It looks like you’re ready to start a business. Before you do anything, take a moment to congratulate yourself on starting this new adventure in life. Starting a business can be a great experience as it helps you create strong relationships, meaningful life lessons, and provides a new perspective on the art of business.
Now that you know what you want to do, let’s begin your journey on how to do it, successfully.
Business, or hobby?
Want to turn your hobby into your career? You need to be prepared for the responsibilities of running a business before taking your first steps into the business world.
Let’s say you make jewellery in your spare time and find great pleasure in selling your pieces to friends and family, and you want to create a business from that. While having the passion for your craft is vital, having determination is key.
Once you start a business, you dive right in; you may pay tax on money you earn, you can claim for deductions on expenses, and you need an ABN. These things you don't need if you just have a hobby.
Of course, starting a business is an exciting new chapter – just be sure you have the resilience, effort, time, money, and passion to continue your pursuit and adding value to the marketplace.
Once you start, your name is attached; your business’s reputation and how it is run is seen as a reflection of you. Are you ready to take the leap of faith?
Tips from the City of Casey
First things first, having a great support system behind you is crucial – this includes having professional aid on your side.
A strong team means a strong foundation
Having a good accountant and decent lawyer in your corner will give you a great foundation for the first steps in your venture – while you may think you know all there is about your passion, accountants and lawyers are trained to know the in’s and out’s of these fields of business.
In the long run, this can prevent any legal ramifications or unforeseen fees that would have been avoided with a professional behind you from the start.
See what accountants, bookkeepers and lawyers can help in the Casey Cardinia area below.
Advice can be invaluable
Know of a business in Casey that’s in the same industry as your own, or someone who has been in your shoes when starting a business?
A little advice from a mentor can go a long way; find someone who has experience in starting and sustaining a business and ask them questions relevant to your concept. Let them tell you their experience, and take on board what you can use to apply for your own venture.
It never hurts to ask, and there is nothing to lose. Talk to friends and family, or go straight to the source - such as if you were opening a coffee cart, you could approach a local cafe owner or food truck owner to seek advice.
What type of business do you have?
While there are many industries and business types in Casey, there is an easy way to figure out what business you want to run.
- Will you be a home-based business?
- Are you requiring a store front to sell your products or services?
- Are you a trader who works freelance?
- Will you be selling your products or services solely online?
- Will you be a mobile business or on a commercial premises?
These are questions you need to have answers to before finding out what permits, licenses and insurance you need to apply for.
Local Professional Services
Need a bookkeeper, accountant or lawyer in your region? Check out Casey Cardinia Business Register to search for one near you.