Five things you must do before opening up a business in Australia

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sep_color=”” link_color=”” link_hover_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]So, you’ve decided to start a new venture in Australia.[/fusion_title][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” content_alignment_medium=”” content_alignment_small=”” content_alignment=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” sticky_display=”normal,sticky” class=”” id=”” margin_top=”” margin_right=”” margin_bottom=”” margin_left=”” font_size=”” fusion_font_family_text_font=”” fusion_font_variant_text_font=”” line_height=”” letter_spacing=”” text_color=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=””]

Or perhaps you are bringing your existing business.

But before you commit to jumping on a plane, make sure you have an answer to these five key questions.

Over years of experience and speaking to hundreds of people looking to start a small business here, we know that if you can confidently answer the following, you’re in good shape for a great start in Australia.

1) Where will you be located?

Confirm your base of operations early.

You might decide to have multiple locations, or or just in the one state initially.

Business legislation can vary from state to state in Australia too.

Read more from the Australian Trade and Investment Commission here.

2) What’s your business name?

You might have chosen to use your full name as your company name.

But is that going to be appropriate when you get to Australia?

Think about what you want to call your business.

At Navigata365, we can help you get this organised.

You can also check to see if someone else has taken your proposed name by visiting the Australian Security Commission website.

3) Is finance needed?

Lots of people have excellent businesses but often need lots of funding.

Starting a business in Australia can be expensive. There are many variable costs you need to consider.

Taking stock of everything you need to do – from leasing a building, organising permits to machinery – can help you get ahead.

You may have already created a business plan. But building relationships with the right finance professionals should take priority for you also, particularly if you need funds to help finance your operations.

4) Are you applying for a visa or already an Australian Resident?

If you are already an Australian Resident, setting up your company structure will be relatively easy.

You can also apply for a business visa (this lists the categories).

This decision links back to our business plan and goals….

If you are looking to come for a short period, then applying for a short-term visa might be right for you.

But for companies who are in it for the long-term, then definitely consider residency.

5) Do you have a support team in place?

Whether it is applying for finance, organising tax or linking with the right people; connecting with trusted professionals can help you thrive.

At Navigata365, you’ll get access to our network of professionals who can help at every stage of the way.

If you are considering starting a business in Australia, then speak to Fiona from Navigata365 today.

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