Steps for starting your own business -  Business Plans, management skills necessary, being prepared and seeking more information on starting a business.
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STARTING YOUR BUSINESS

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Firstly you need to research your business idea to ensure that is is commercially viable.
Put together a Business Plan for your business idea.
Make sure you have the necessary Working Capital or means to finance it.
Decide which business structure best suits your Business Plan -
  • Sole Trader
  • Partnership
  • Pty. company (incorporated)
  • Discretionary or Unit Trust
  • Or a combination of some of the above
Consulting with your accountant or a professional business advisor will help you choose what best suits your circumstances.
Starting Steps:
STARTING YOUR BUSINESS :
Importantly your Business Plan should -
  • Comply with legal requirements
  • Maximise protection of assets
  • Minimise tax - including Capital Gains Tax
  • Be flexible

Consider your management skills - if necessary a course or workshop may need to be taken to ensure you have the necessary skills required.
Some necessary management skills are -
  • Accounting
  • Marketing
  • Staff selection
Be Prepared -
  • Seek advice and guidance from professionals
  • Read Publications
  • Do Market Research & identify your niche.
  • Find out if you require any licences or permits
  • Intellectual property - trade marks, copyright..
  • Understand you Insurances and Superannuation requirements - Life Insurance : Income Insurance : Commercial Risk : Workers Compensation Insurance cover : Superannuation Guarantee contributions.
  • Learn about when you need to Register a Business Name
  • Taxation, ABN, GST
  • Supervisory skills
  • Inventory control
  • and more...
Links to Government & Other sites for more information