Starting a small business in Australia? You’re not alone — thousands of Aussies take the leap every year. But before you dive into your first sale or design your dream logo, you need to get your legal, financial, and strategic ducks in a row.
At LP Elevate Solutions, I’m all about practical, jargon-free advice that helps you grow confidently. Here’s a clear, step-by-step guide — with friendly tips, smart tools, and helpful links — to set your small business up for success.
1. Choose the Right Business Structure
This decision affects everything from your taxes to your legal obligations:
- Sole Trader: Great for solopreneurs. Easy setup, but you’re personally liable.
- Partnership: Two or more owners. Shared liability, simple tax setup.
- Company: More protection, more admin. Ideal for businesses planning to scale.
- Trust: A complex structure, often used for tax planning. Get an accountant’s advice.
2. Register Your Business
Once you’ve chosen a structure:
- Check your business name on the ASIC website.
- Apply for an ABN (Australian Business Number) at abr.gov.au.
- Consider trademarking your brand if it’s key to your identity.
Tip: Tools like Lawpath can help automate legal documents and registrations.
3. Get the Right Licences & Permits
Depending on your industry and location, you might need:
- Building or trade licences
- Health or food service permits
- Local council approvals
Check with your state or territory government to make sure you’re covered.
Cover your back with business insurance:
- Public Liability Insurance – essential for customer-facing businesses
- Professional Indemnity Insurance – for anyone giving advice
- Workers’ Compensation – mandatory if you have employees
- Vehicle Insurance – if you use a car for business
Need affordable cover? Check out BizCover.
6. Research Your Industry & Market
Before launching, learn:
- Which industries are growing in Australia (e.g., tech, healthcare, finance)
- What your ideal customer values (price, convenience, eco-friendly products?)
- What your competitors are doing — and how you can do it better
Use tools like:
7. Know Your Region
Location affects your costs, taxes, and even access to skilled staff. For example:
- Sydney = Higher overheads, bigger talent pool
- Adelaide = More startup grants and government support
- Gold Coast = Lower rent, more lifestyle entrepreneurs
8. Use Smart Tools / Software to Stay on Track
You don’t need to do everything alone. There are tools to help streamline your small biz journey: I highly recommend Appsumo that provides great software deals/lifetime access, saving you so much as a business owner.
Final Thoughts: Your Business, Your Way
Starting a small business doesn’t have to be overwhelming. With the right guidance, tools, and mindset, you can build something that works for you — not the other way around. If you’re feeling stuck on the setup, get in touch with me at LPElevateSolutions.com — I’ll help you map the next step, without the fluff.