CALCULATING START UP COSTS Start-up costs refer to the total cash amount needed to get your business up and running.  This is important because you don’t want to be caught short before your opening day! How to calculate your costs  List everything that you will need to pay for up front prior to launching your business. … Continue Reading »

Writing a Business PlanIt may sound like a daunting assignment, but evidence suggests a well-written business plan contributes to a successful business. Why?   Building a business from scratch can be challenging, therefore, creating a business plan compels you to systematically think through every aspect of your business and develop a solid blueprint to follow.  A business plan… Continue Reading »

Where do you go for help setting up?You’ll find a wealth of information relating to starting and running a small business at these websites.  Add them to your list of favourites for quick reference. www.business.gov.au Everything you need to know about planning and starting your own small business can be found under the ‘How-to guides’ on this… Continue Reading »

BUSINESS STRUCTURE It is important to consider the advantages and disadvantages of the various business structures available, and to choose the best structure to suit your circumstances. Factors to consider include set-up and ongoing costs, tax implications, asset protection and legal requirements.  The four main structures are:  Sole trader The owner is a sole proprietor who controls… Continue Reading »