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: You must check your business name is available and register it with BizFile+.
- Figure out GST: Businesses that expect annual taxable income of more than $1 million must register for GST. Businesses with less income can voluntarily register. Learn more from IRAS.
- Register a company: To set up as a company, you must register with the Accounting and Corporate Regulatory Authority.
There may be other departments to speak to for things like:
- Permits and licences: You may need special permission for certain types of business activity. Check your situation with GoBusiness Licensing.
- Employing people: If you’re hiring staff, the government will want to tax your workers’ pay, and they’ll expect you to comply with employment rules and regulations. Learn more about employment practices at the Ministry of Manpower.
Where to get help
If you’re unsure of your obligations to the government, there are people who can help. Look for industry associations for your type of business, search around for a Chamber of Commerce and other local business advocacy groups, find businesses like yours and ask the owners what regulations they have to comply with, or simply speak to a local accountant.
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.
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Now that you have your guide
Managing finances can feel overwhelming. With Xero’s powerful tools, small businesses can stay organised and confident.
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.