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The Complete New Business To-Do List

Written by Sonia Spaseski . July 21, 2017
1 min read

When setting up a new business or changing your current structure, there is what seems an endless list of things that you need to complete prior to commencing trading. We realise it’s pretty easy to miss some of the important steps, so we’ve taken some of that pain away with a New Business To-Do List of the main aspects to tick off.

Because business structures, activities and incomes vary, please keep in mind that the following list is a guide only and some of the steps may require the assistance of a trusted business adviser.

This list is a great place to start, and we've provided links to other blogs that go into more details on certain topics:

  1. Order your structure, if required, such as a Company or Trust
  2. TFN & ABN application
  3. GST & PAYG Withholding registration
  4. Register any additional Business Names or Domain Names if required
  5. Open bank account
  6. Arrange insurances
    - Workers Compensation (if you have employees)
    - Public Liability
    - Business Insurances
  7. Purchase assets and arrange finance (if required)
  8. Employment
    - Employment Contracts / TFN Declarations
    - Setup employer for superstream
    - Super choice forms for employees
  9. Accounting software
  10. Setup myGovID & RAM (Relationship Authorisation Manager)
  11. Standard Customer Contracts
  12. Supplier Contracts or setup accounts

Obtaining some advice or guidance around starting up a business can relieve much of the pressure and confusion. If you would like to investigate this option, then please talk with us and see if we are the right fit for you. Our team at BLG Business Advisers are here to help you out.

Written by Sonia Spaseski . July 21, 2017
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