JPAbusiness works with many well-established private businesses, large and small, across a range of industries. However, from time to time, we also assist clients who are just beginning their business journey.
These clients may be coming from an employed environment and have been working on a ‘side hustle’ that has grown well beyond their expectations.
Or they simply decide to go into business via a new opportunity or venture, or acquire an existing business and either have it managed, or work in it directly.
When you’re an owner of a larger business, you can take for granted the mundane, ‘setting-up activities’ required to start a business, as you likely have internal expertise to handle them.
But all businesses have to start somewhere and these ‘setting-up activities’ should be given priority at the outset. As we’ve discussed in other blogs and videos, missing important steps related to business governance, structure and processes can negatively impact value in the future.
Therefore, we felt it would be useful to provide a few key pointers for those business owners at the start of their journey, either to apply themselves, or to use as questions and talking points when seeking advice from an accountant, consultant or tax agent.
In this new eBook – A practical guide for setting up a small business – we’ve covered 10 activities a business owner commonly needs to undertake when setting up a small business in Australia:
- Business name registration
- Business account
- GST registration
- Business structure
- How business owners get paid
- Payroll compliance under a company structure
- Bookkeeping and BAS compliance
- Domain name registration
- IP registration
- Other requirements
The eBook has been designed for start-up/new businesses with an initial turnover up to $75,000, but whose turnover is expected to grow and exceed $75,000 in the ensuing 12 months.
Please feel free to share the eBook with your network, particularly friends or contacts who may be considering moving from an employed situation to business ownership.
JPAbusiness provides a wide range of business advisory services for both new and established businesses. Contact our team on 02 6360 0360 or 02 9893 1803 for a confidential, initial discussion.
Disclaimer: The information contained in this blog and eBook is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent advice before making any decisions. Figures quoted in relation to accounting software pricing were correct as at April 2021, however are subject to change.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.