So you’ve decided to start your own business – Congratulations. You’ve got the idea, and you know what business you want to create (or buy). But before you run off and start selling, there are all the boring, mechanical tasks you have to complete so that you can operate legally and efficiently. We’ve endeavoured to put together a comprehensive list of everything you need to think about before you open the doors, and some tips on how to complete the tasks. We will of course have missed some things, so please let us know and we’ll add it to the list. Please bear in mind that we are based in Australia, and other regulations will apply in other countries, so not all of these will be relevant.
- Find a partner
- Get some general advice on starting a business
- Write a business plan
- Sort out your finance and insurance
- Find somewhere to operate your business
- Fit out your premises and obtain furniture
- Get some accounting, tax and legal advice
- Set up your business structure and create a business name
- Obtain trademarks, register your business, and complete other regulatory requirements
- Get your IT hardware and software
- Set up your communications – internet, landlines, mobiles, tablets, email
- Build a website and create a “company look” for your stationery – start with a logo and a colour scheme, and build from there.
- Set up your financial records and MIS
- Develop a marketing plan
- Recruit and train staff
- Set up your payment systems
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