Getting ready for business
You may like to view other topics, for example, Business planning. Click Smart Skills above to view other topics pages.
You may like to contact the Business Hotline on 1300 363 711 (interstate/overseas callers telephone +61 7 3001 6359) and ask about the free Getting ready for business CD or Essentials for business success CD. Alternatively, contact your local regional centre for more information.
Skills you need for business
Different types of businesses need people with different types of knowledge,
skills and traits to run them. However, there are some skills that most
businesses need. This subject explores them. They are business skills,
leadership skills and system skills. Timing: 5 to 10 minutes.
Statutory requirements
Statutory requirements vary according to the type of business you establish.
This subject shows where you can find out the statutory requirements for
a particular business and where to get help regarding them. Timing: 5 to
10 minutes.
Statutory
component of establishment costs
This subject covers the cost of meeting statutory obligations. Timing: 5
to 10 minutes.
Where will I locate my business?
Location is one of the most important decisions you make when you start your
business. This subject covers considerations you need to make and the types
of advice and information you should seek. Timing: 5 to 10 minutes.
Getting advice on location
This subject should help you get any advice you may need as you select the
location for your business. It also covers the questions you might ask
when you're selecting an adviser. Timing: 5 to 10 minutes.
Business structure
Before you start trading, you'll need to select a business structure. Your
decision will usually have significant impact on the operations of your
business, both now and in the future. This subject covers four commonly
used business structures, the considerations you need to make as you select
a structure and how to select the most suitable structure for your business.
Timing: 5 to 10 minutes.
Establishment costs
This subject identifies many of your establishment costs and provides a template
to help you calculate them. The subject is meant to be followed together
with others that relate to starting a business such as Business structure and Trading
reports and capital requirements. Timing for this subject: 5 to 10
minutes.
The income your business must generate
This subject should help you identify the money your business must
make for it to be viable to you. Timing: 5 to 10 minutes.
Getting the money for business
Funding is essential to your business, and it's often a major source of concern
for business owners. This subject aims to make it easier for you to get
any funding you may need by introducing you to funding needs and sources,
financial institutions and organisations that could be possible lenders,
business loan assessment criteria and the profits you'll get from your
business. Timing: 5 to 10 minutes.
Is this business for you?
Running a business can be very rewarding. It requires certain personal
skills and drive and it also requires sacrifices. This subject should help
you decide whether going into business is really for you. It deals with
your personal goals and priorities, what your business goals are likely
to be and the risks associated with business. Timing: 5 to 10 minutes.
Weighing the advantages against the disadvantages
This short subject should help you draw together the advantages and disadvantages
to you of starting your own business. It should help you
make your decision. Timing: 5 to 10 minutes.
The
legal environment
This subject covers the legal environment in which business operates. It
should show you how you can use this environment to your advantage how
you can use it to help manage the risks associated with business. Timing:
5 to 10 minutes.
Starting
a business
Before starting a business there are a number of issues to consider, in particular your business skills, business planning, professional advice, business structure, insurance, finance, licenses and permits.
Business
licences and permits
Business licenses and permits ensure that you, your business, the community and the environment you operate in are protected. Here is a list of licenses and permits you may need to commence your business.
Registering
your business name
This fact sheet takes you through the steps for registering your business name.
Trade
Practices Act 1974 (Commonwealth)
The Trade Practices Act is legislation that aims to promote fair trading conditions for all Australian businesses and to protect both consumers and businesses against unfair practices. This fact sheet briefly explains the provisions of the act.
Choosing the best legal structure for your business
There are a number of options available to you when setting up a structure for your business. These options are explained here.
Set
up as a company
This fact sheet explains the advantages, disadvantages and tax implications of using a company structure for your business.
Duties
and responsibilities of company directors
Company directors have certain duties and responsibilities they need to adhere to. This fact sheet outlines them.
Set up as a partnership
This fact sheet explains the advantages, disadvantages and tax implications of using a partnership structure for your business.
Set
up as a sole trader
This fact sheet explains the advantages, disadvantages and tax implications of using a sole trader structure for your business.
Set
up as a trust
This fact sheet explains the advantages, disadvantages and tax implications of using a trust structure for your business.
Choosing
the right location
Where you locate your business will be one of the most important decisions your business makes. This fact sheet provides a location checklist to help you with your decision.
Important
questions on shop leasing
Leases are special documents subject to legal contractual conditions. Before you sign a lease, it's important to understand how it can affect the operation of your business.
Home
based business
There are many things to consider when you establish a home based business - including how to strike the right balance between your work and family.
Buying or selling a business
Is this business viable?
This subject should help you identify the information you need to gather
so that you can assess whether an existing business is viable. The subject
also invites you to check the business-specific skills running such a
business will require. Timing: 5 to 10 minutes.
Valuing a business
The market place determines the value of a business. But it takes into account
certain key considerations as it does so. This subject should help you
identify some of those considerations, as well as the information you’ll
probably need to gather to value a business. Timing: 5 to 10 minutes.
Contracting to buy a business
This subject outlines the steps usually involved in contracting to purchase
a business in Queensland: the due diligence you need to apply to the process,
steps involved in getting agreement between you and the vendor, drawing
up a contract and signing it. Timing: 5 to 10 minutes.
Considering selling a business
This subject should help you identify the reasons why you might want to sell
your business. It also invites you to look at alternatives to selling if
you want to keep the business but be less involved in its day-to-day management.
Timing: 5 to 10 minutes.
What the buyer wants
If you want to sell your business, considering the transaction from the buyer's
perspective may help. This subject should help you identify the different
types of buyers of your business, ways to find and qualify those buyers
and items to include in a Buyer's Kit. Timing: 5 to 10 minutes.
The process of selling a business
This subject outlines the steps involved in selling your business. It also
identifies the documents you need to collect and invites you to plan for
the steps involved in the sale. Timing: 5 to 10 minutes.
The
right questions to ask when buying a business
If you are considering buying a business, this fact sheet contains a list of questions to help you with your research.
Introduction
to franchising
Before entering into a franchise agreement, there are a number of important issues to consider.
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