Ever feel like your brain is at capacity? That you are suffering from information overload? Starting a business can quickly bring you to this point.
Business . gov . au provides 9 areas to investigate when starting your own business:
– Prepare for business
– Make key decisions
– Plan for success
– Register your business
– Prepare for tax
– Know the law
– Plan your finances
– Protect your business
– Set up operations
You can read the details here:
https://www.business.gov.au/Guide/Starting
Once you’ve decided you really want to start your own business, the first thing you ought to do is get advice & support – from professionals!
Do you need a business plan?
Do you need any special licences in your industry?
Which laws apply to you? What is fair trading? Can you read a contract?
Do you need insurance? What kinds of insurance do you need?
What is a marketing plan?
But what about employing staff? What extra records are needed? How much do you need to pay them? What is super and how does it effect your business? How do you avoid being in the news for breaches of requirements?
It’s so overwhelming!
Don’t get swamped by it all, a couple of key advisors (lawyer/tax agent/BAS agent) will be able to summarise all the key data and help you navigate the SME maze. They’ll know what order to do things in, what things you don’t need to worry about now, and when you have reached the next level and the added intricacies that brings.
Information Overload is a real thing – the trick is convert info to knowledge!
