5 STEPS TO STARTING A BUSINESS IN AUSTRALIA

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Published 2022-07-17
Are you starting a small business?

Congratulations! There’s no doubt it’s going to be a lot of work, but it’s also going to be incredibly rewarding.

In today's video, I'm going to run you through five steps that are crucial at the beginning stages of the business process.

By taking care of these important details from the outset, you’ll be well on your way to setting your business up for success.

Make sure to stay tuned until the end of the video for a bonus tip!



Thank you for watching this video. I post weekly videos on this channel to provide the latest and most frequently asked business questions. Please take a second to say hi in the comments below. Also, if you enjoy my comments and find it valuable, subscribe to the channel, like and share it with anyone who you think might find my channel useful!


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Davie has over 10 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.

Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.

He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.


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DISCLAIMER: Please note that every effort has been made to ensure that the information provided in this video is accurate. You should note, however, that the information is intended as a guide only, providing an overview of general information available to contractors and small businesses. This guide is not intended to be an exhaustive source of information and should not be seen to constitute legal or tax advice. You should, where necessary, seek your own advice for any legal or tax issues raised in your business affairs.



Video produced by Social Wave
www.socialwave.com.au/

All Comments (21)
  • @guesswhat7770
    First step to starting a business in Australia is buying a Toyota campry and make plates with the initials CEO folowed by the numbers of your choice.
  • @perrytalor842
    If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
  • @rosegrace6230
    Thanks! Honest and straight forward information on this You Tube Channel to help us.
  • Great video! Could you do a video on claiming car expenses, log book vs cents/ km and recommendations for apps? I'm doing some research on some apps available on android.
  • @YasinNabi
    A very informative channel and great contents i enjoyed watching most of your videos thanks for sharing .]][
  • As someone that would like to open their own Bullion webstore, I can definitely see now. How an accountant is worth their weight in gold. 😀
  • @davidlee2526
    Hi Davie, can you do a video on setting up business based on the "gig economy"? Setting up, tax deductions, tax reporting etc etc
  • @thavin2702
    Hello Sir, Do we need use KYB before registration business ?
  • @andres6545
    What do you recommend to start selling products on Amazon? Sole trader, Company, Partnership, or Trust?
  • @noompsieOG
    Yeah see I used my gst to build and buy everything for my business with the thought it was like a hex fee or something but it says I owe over 100k now 🤦‍♂️ I made the mistake of making a business and thinking I could handle it but it’s a nightmare and you need an accountant because the ATO demands you to submit a bas so you do that and straight away there is $18 k in the accounts and being threatened of legal action if bas isn’t completed and then after some months I’m told I have to pay it back , luckily now I don’t have to submit any more of them and was able to just stop at 100 k over seen people go over half a million
  • @kippasaur
    What things would a online server hosting company need
  • @ArunaC-yh4vm
    Hi. Can you explain how to establish my own company In Australia as a non-Resident to give design services. i am from sri lanka🙏
  • @agentdark64
    Hi Davie, i'm voluntarily deregistering my company next year. I'm a sole director/sole shareholder/single person in the small company. After I cancel my workcover policy, they will issue me a refund. I believe that i cannot pay this refund (it will be company profit) using wages or director fee as i'd need to have a current workcover policy to pay that (and I would have just cancelled just that!). Kind of a catch 22 scenario there! Is my only option to pay it out as an unfranked dividend? Can it be done on the final tax return? Do I need to report it on the next BAS or just the EOY company tax return? I need to find a tax account who can teach me how to legally record correctly a unfranked dividend as i've never needed to do it until now if this is the case!
  • I want to register my company in Australia any reference for services provider?
  • Hi if I open a clothing brand online in Australia; Do i need to register my bussiness? I don't have any sales as of now
  • @phigina
    I need to purchase some equipment - pc/printer/label printer/cricut machine for a business I would like to start, to claim as a business expense, Do I need to have this invoiced into a business name?. I have not started anything so just wondering if I need to do business registration etc first Or if I can just purchase using my name