How to Start a Business in Australia

Starting a business in Australia is not as simple as opening an account with a bank or registering with the government. There are several steps you must take, and some of them are quite involved. Here's an overview of what to expect:\n\n### Choosing a Business Structure\n\nThere are many different types of businesses and business structures. The type of structure you choose will depend on:\n\n* How many people you need to be involved in the business\n* Whether or not you want to have a legal entity separate from yourself (a company)\n* How much money you are willing to invest in the business at this stage, and how much risk you're willing to take.\n\nThe most common forms of business structures are Sole Proprietorship, Partnership, and Limited Liability Company (LLC).\n\n### Registering a Business Name and Applying for an ABN\n\nRegistering your business name and applying for an ABN is the first step in starting a business in Australia. What is an ABN? An Australian Business Number (ABN) is a unique number that identifies you as a registered or active business. Any person who uses the services of another must pay tax on those services, so it's important that your business has its own ABN before providing any goods or services to clients.\n\nHow do I register my company? To register your company and apply for an ABN, visit Registry Australia and follow the instructions on how to set up a new business within Australia or call us on 1300 070 000. You'll need to provide some personal information about yourself as well as details about what kind of business you want to start (e-commerce, service provider etc). This will help guide them through the application process so they can determine if they can help you with starting up!\n\n### Register your domain name\n\nIn Australia, you can register a domain name through an accredited registrar. Accreditation means that the registry has been checked and approved by the Australian Communications and Media Authority (ACMA).\n\nRegistering your domain name is quick and easy with our domain name registration service - it can take less than five minutes! Once you’re registered, it’s time to choose a host for your website and select which email service provider (ESP) best suits your needs.\n\nTo register a .com.au domain in Australia it must be linked to an ABN, so make sure to complete that first; which can be done here: ABN Registration \n\n## Identify your funding source\n\nIt’s important to understand that you won’t get far in your business without funding. The right party believes in your idea, is willing to support you and can give you the capital needed to get started.\n\nHere are some possible funding sources:\n\n* Your own funds (personal savings)\n* A bank loans\n* Business partners\n* Business angels (individual investors)\n* Crowdfunding campaign\n\nGovernment grant programs often help with start-ups with passionate founders with good ideas and a solid plan for growth. Some government grants require start-ups to match the government funding dollar-for-dollar; others do not have this requirement but still require entrepreneurs to submit a business plan or statement of intent before receiving their funds.\n\nCheck out our blog; “How to obtain small business start-up loans” for more information.\n\n\n\n### What tools, software and assets do you need?\n\nOne of the most important things for a new business to think about is what tools, software, and assets you will need.\n\nThe answer to this question can be quite different depending on the type of business you are starting. For example, if you are planning on selling products online, then obviously your website is going to be an essential part of the business. On the other hand, if your product is something physical, then it might not be as important for your customers to see your brand name everywhere - but it’s still important for them to know who has created it.\n\nSo how do we decide which tools we need? The first thing we need to do is ask ourselves some questions: What does my business need to succeed? What software do I need for my website/app/product etc., work properly? What are some optional tools that could help me out later down the line but aren't essential right now?\n\nOnce you have an idea of what we need, you can start looking for the best option for each aspect of the business.\n\n### Need help getting started with your business?\n\nWe hope this article has been helpful in explaining how you can start a business in Australia. Starting your own business is an exciting journey, with many challenges along the way. We wish you the best of luck on your entrepreneurial journey! Give us a call or visit Registry Australia to get started with your business