Setting up your own business is exciting, but can also be challenging if you are not prepared. Below are the steps of starting a business and help you understand what's ahead.

1. Check if you're ready Prepare yourself for business Difference between a business and a hobby Employee or contractor? Find help for your business 2. Make key decisions Decide on a business structure Learn how to choose a business name Choose your business location 3. Plan for success Develop your business plan Research your market Write your marketing plan Develop your export strategy 4. Register your business Australia business number (ABN) Business name Tax registration for your business Licences and permits Company Business website

5. Prepare for tax Understand taxation for your business Keep the right records Learn how to lodge and pay for tax 6. Know the law Learn the legal essentials for business Understand fair trading laws Learn the laws in your industry Understand contracts 7. Prepare your finances Learn how to organise your finances Develop a pricing strategy Apply for a business loan Find resources to help finance your business 8. Protect your business Understand business insurance Protect your Intellectual Property Prepare your business for an emergency 9. Set up operations Learn about hiring employees Market your business Manage your suppliers Communicate with customers

If you are looking for someone to help you setup your business, please contact us at: services@gobiz.com.au