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Starting Your Business Checklist

This checklist has been designed to help you think about the actions you need to take to start your business.

For the full document follow the link here

1. I have researched and tested my business idea
2. I know where to find advice and support
3. I am buying a business
4. I am buying a franchise
5. I am developing a business plan
6. I have chosen a suitable business structure
7. I know how and where I can obtain finance
8. I have decided upon the location for my business
9. I understand the essentials of running my business from home and have obtained council approval
10. Leasing commercial property (I have obtained legal advice before signing)
11. Will I/my staff be classed as an employee or independent contractor?
12. I have applied for my Australian Business Number (ABN)
13. I have registered my business name
14. I have a Tax File Number (TFN), have registered for GST and other applicable taxes
15. I have the required licensing registrations and permits
16. My staff and I are aware of the standards, codes of practice and registrations applicable to the industry
17. I have checked that my products meet Australian product safety standards
18. I have arranged insurance/s to cover myself, my business, my employees, my suppliers and the public
19. I have registered and protected my Intellectual Property (IP) (trademarks, patents, copyrights, logos. etc.)
20. I have registered my internet domain name (i.e. your internet address)
21. I understand my legal obligations and the law that applies to my business
22. I understand my rights and obligations when employing staff
23. I have developed my Marketing plan
24. I understand business privacy laws and how to manage personal information
25. I understand how to set up and conduct business online safely and securely to protect my business and my customers
26. I have set up record keeping (including customer and employee) and financial accounting systems
27. I have set up record keeping (including customer and employee) and financial accounting systems
28. Inventory Control – I understand how to manage my stock
29. I have researched applicable business grants / funding
30. I understand how to manage my cash flow
31. I have chosen my supplier/s and documented the terms of trade in a written contract signed by all parties
32. Risk management process – I have identified, assessed and prioritised the risks (incl: financial, operational and environmental, legal, strategic, privacy and information) and monitor them regularly
33. I understand my legal obligations and requirements when importing / exporting goods or services