Thinking of Starting a Sole Practice?

Are you new to business? To help you get started, the Australian Government has developed a Starting Your Business checklist covering many of the basic issues you need to consider.

The checklist contains a series of questions to guide you through the various stages of your business, including before you start, when you start, when you buy and when you run your business. The checklist is updated on a regular basis, so you should regularly check that you have the latest version.

Information contained in the Starting Your Business Checklist includes:

Before you start a business

  • Do you know where to find advice and support?
  • Do you know when your business is a hobby? 
  • Do you know what events, networks and seminars are happening near you?
  • Have you started planning for your business?
  • Have you written your business plan and marketing plan?
  • Have you considered your other plans such as a social media plan, export or import plan, succession plan and emergency response?
  • Do you know how to obtain finance?
  • Do you know which business structure suits your business?
  • Have you considered starting as a contractor?

When you start a business

  • Have you registered your ABN?
  • Have you registered for GST and/or other business registrations and licenses?
  • Have you registered your business name?
  • Do you have adequate protection for your ideas?
  • Have you considered running a home-based business?
  • Do you understand your taxation obligations?
  • Do you understand your legal requirements?
  • Are you aware of standards and codes of practice?
  • Have you set up a basic bookkeeping system?
  • Have you arranged insurance?
  • Do you know how to employ people?
  • Have you considered applying for grants or financial assistance?
  • Have you considered doing business online?
  • Have you thought in detail about your products and services?

When you buy a business

Running your business

Click here for all the information you need.