Registering a business and other admin tasks
After all the excitement of deciding to start a business, you’ll have some paperwork to do.
How to register a business with the government
You have a few official steps to walk through before you’re in business:
- Register a business name: Unless you’re trading under your personal name, you’ll need to register a business name. You can do this through the Business Registration Service
- Get an Australian Business Number (ABN): An ABN is a quick way to identify your business to the government and the tax office. Put it on your invoices to ensure customers don’t withhold pay-as-you-go tax from the amount they pay you. You can apply for an ABN through the Business Registration Service. Find out more about what an ABN is and how to get one.
- Apply for licences and permits: You may need special authority for certain business activities, such as running a business from home or employing people. Some industries have very specific requirements. Find out what you need from the Australian Business Licence and Information Service.
How do I register a company?
If you’re setting up as a company, you’ll need to choose and register a name and get set up with the Australian Securities & Investments Commission (ASIC). You’ll need to submit documents explaining how your company will operate and identify who the decision makers will be. You can start the process through the Business Registration Service.
Should I trademark a business name?
You can legally protect a business name and logo to prevent others from mimicking your identity. This can be a valuable step for businesses that plan to invest a lot in making their brand widely known.
This area of the law can get complicated – especially if you expand into overseas markets and find there’s a business there with a similar name. Ask for advice from a legal professional with experience in this area.
At the very least, use trademark registries (and search engines) to check that no one already has your business name. It’s an easy way to save yourself a lot of hassle.
Disclaimer
Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.
Download the guide to starting a business
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1. Research your idea
Your business idea is clearly inspired. But it helps to check you’re not the only one who thinks so.
2. Write a business plan
It helps to map your way from having a genius idea to a real business. Your plans don’t even have to be long.
3. Do a budget
You’ll need a rough financial plan so let’s estimate costs vs. sales, and figure out your break-even point.
4. Set prices
Work out what you need to charge to cover costs. And choose a pricing strategy that works for your business.
5. Choose a business structure
Will you be a sole proprietor, a partnership, or a company? And what's the difference anyway?
6. Sort your startup accounting
Get a few things right at the start and you’ll be sweet when it comes to tax time. Let’s demystify accounting.
7. Register your business
Find out who you have to tell about your business. And check to see if your industry is regulated.
8. Create a website
Learn what goes into a website. It’s simple and a great way to get discovered.
9. Get extra support
Once you’ve learned how to start a business, you’ll want help running it. Check Xero’s guides and templates.
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