If I want to start a business, how do I set up a company?

There is mainly federal legislation covering the establishment of a company and then some registration within a state.
Best thing is to probably have a chat with an accountant who will be familiar with the process and you'll probably want one for doing annual returns for Taxation and ASIC (Oz securities and investment commission).

One question that should be asked and if the accountant does not raise it, then maybe you need a better one - is the keeping of personal and business interests separate, for if a business goes belly up with debt, it would be good to be able to declare bankruptcy without any personal assets being lost.

Should add too, that you could do some preliminary DIY research by seeing if the state you're in has in government departments a small business or development department (In Qld. it is actually called Small Businesses One Stop Shop or whatever and was under Consumer Affairs when I referenced them once) and you should be able to get a swag of free info for reading up on - it may just relate to state requirements/support, but a start.
Also go to the ASIC website and even ATO site too as it has a lot of general info.

You can set up a business if you are doing things like writing or something, and I don't think you have to do anything. You are just self-employed. But if you do anything that might give someone a reason to sue you, your personal assets are at risk.

OK, so if I start a web site, I don't need to set up a limited liability corporation? I thought that might be the case, because so many people do it.

Hi

I once started a small computer hardware business in Perth, WA before. I don't know if the rego about establishing a business at that time (when I started my business) is still the same as it is now.

There's no difficulties to start up the business, as long as it is a sole proprietor one (not company / limited) one. What you need is just go down to Trade registrar dept (in Trade Department) and request for firm establishment form (I don't know what they name it now). Or if they have online application, it's actually easier.

Once we fill up the form and pass it on to the registrar, we just wait until a certificate of the business (under new name) is sent to you. If you rego under your name, you won't need to register anything, but if you want to establish a business under a certain name (as long as it is still a sole proprietor type) you have to register and pay certain amount (if I'm not mistaken it was A$ 40) for the rego.

That's it.

Hi

There is a Business checklist on www.business.govt.au I am starting my own business the main things that you really need to do are..
1/ Business Plan - This is most important
2/ Knowing your personal short-term and long term GOALS!!!
3/ Business objectives
4/ S.W.O.T - Strengths, Weaknesses, Opportunities and Threats... Don't be modest be realistic...
5/ Marketing - Research your Point of Difference, Competitors, Target Market, Prices others are charging - Measure your client base, profit average, growth - Execute, Just do it - HAVE A MARKETING PLAN
6/ Construct a Survey on your business and get at least 100 random people to take it
7/ Know what type of business you will be best suited to eg; sole trader etc
8/ Have at least 2-3 contingency plans - cover your back you never know what can happen to you.
9/ Be realistic in your cashflow budgets, overhead costs, Direct Cost of Sales and work out your break-even amount how much you need to sell of your product or service to cover your Business and Personal expenses.

Pretty much it is alot of research and effort that goes into a business plan but it is well worth it to know if it is going to work.

Marketing is the main at least 40-50% of your business plan should be focused on how you are going to attract your clients base and then maintain the clients and lastly keep growing your client base marketing is never ending.

I really hope this helps you and good luck in your business venture.

Sincerely

If you need help with your plan private message me... I am happy to help with what I can

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Tracey Donaldson