New Business Checklist

In an effort to make your transition into operating your new business as simple and hassle free as possible, we've compiled a checklist of the tasks imperative to ensuring the future success of your new business venture.

Registrations

• Register your business name with ASIC

• Register for an Australian Business Number (ABN) and Tax File Number (TFN)

• Open a business bank account, and if neccessary, a separate account for GST payments

• Subscribe to an accounting program, eg., MYOB, Banklink, Xero, etc

• Determine the business licensing or statutory requirements

Insurances

• Arrange public liability insurance

• Organise work cover

• Investigate Work Health and Safety compliance requirements for your industry

Employing

• Establish employee contracts

• Investigate the awards relevant to your industry (if they exist)

• Setup a payroll system

• Register for superannuation payments

Marketing

• Engage with a graphic designer to design business logo

• Set up an email address and social media profiles (Facebook, Instagram, LinkedIn) for the business

• Design business cards, letter heads, email signatures, and all professional stationary

• Organise immediate advertising via direct mail, email marketing, social media marketing, televeision, radio, or print

• Engage with a website developer to build your business website

• Join your local business chamber and take opportunities to network and market your business in person

Plant and Equipment

• Notify gas and electricity providers of the new business

• Review lease agreement of new site (if applicable)

• Purchase/lease/finance new equipment (if applicable)

Suppliers and Contractors

• Distribute a direct mail or email notice to suppliers and contractors to notify of new busines

• Establish relationships with suppliers and contractors

• Review contracts with suppliers and contractors