How to Start a Business in Australia


Embarking on a new business venture is both exciting and terrifying in equal measure. On one hand, you’ll finally be the boss; the master of your own destiny who’s pursuing success in something that you’re truly passionate about. On the other hand, you now have a laundry list of things that you need to tick off before you even start to make sure everything kicks off smoothly.


Whereas working for someone else alleviates these responsibilities, the startup owner takes on all these stresses themselves. Not only that, every country has different laws, regulations and requirements to get your business up and running. So, even if you’ve started a business in one country, you’ve still got to do a pile of research to make sure you do it properly in another.

Download Now: Free Business Plan Template

To help you out in Australia, at least, we’ve put together a list of the main things you need to sort out when starting a business Down Under:


How to Start a Business in Australia

1. Choose your business structure.

The structure you choose for your business is very important, as it has a direct effect on things such as:


Your level of control

The amount of tax you need to pay

Regulatory obligations

Health and safety requirements in the workplace

The level of personal liability you will incur

There are four structures on which you can build your business in Australia:


Sole trader: This is when you register someone (usually, yourself) as the sole owner of the business. That means you’re responsible for all legal aspects of running the business, but you’re entitled to hire people to work for you.

Company: This is a commercial business or entity that has a separate legal existence to its shareholders.

Partnership: A Partnership is when more than one person and/or entities run a business together, but not in the form of a company.

Trust: A Trust is an entity that is in possession of property, income, or any other assets for the benefit of a third party.

Image Source: AnyBusiness.com


You must decide on the structure of your business before you register it, as each structure entails different steps to do so. Along with this, it’s worth noting that you might change the structure of your business as it grows and evolves over time.


分享: