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5 STEPS TO STARTING A BUSINESS IN AUSTRALIA
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- Опубліковано 15 сер 2024
- Are you starting a small business?
Congratulations! There’s no doubt it’s going to be a lot of work, but it’s also going to be incredibly rewarding.
In today's video, I'm going to run you through five steps that are crucial at the beginning stages of the business process.
By taking care of these important details from the outset, you’ll be well on your way to setting your business up for success.
Make sure to stay tuned until the end of the video for a bonus tip!
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Thank you for watching this video. I post weekly videos on this channel to provide the latest and most frequently asked business questions. Please take a second to say hi in the comments below. Also, if you enjoy my comments and find it valuable, subscribe to the channel, like and share it with anyone who you think might find my channel useful!
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► Subscribe to my channel here:
/ daviemach
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Davie has over 10 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.
Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.
He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.
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Follow Me:
LinkedIn: / davie-mach
Instagram: / boxas_syd
Facebook: / boxadvisory
Website: boxas.com.au/
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DISCLAIMER: Please note that every effort has been made to ensure that the information provided in this video is accurate. You should note, however, that the information is intended as a guide only, providing an overview of general information available to contractors and small businesses. This guide is not intended to be an exhaustive source of information and should not be seen to constitute legal or tax advice. You should, where necessary, seek your own advice for any legal or tax issues raised in your business affairs.
Video produced by Social Wave
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First step to starting a business in Australia is buying a Toyota campry and make plates with the initials CEO folowed by the numbers of your choice.
If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional like I did. If you get the facts about saving and investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.
Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.
I'm a living testimony of expert Naomi, she has been trading for me for months now
Do you happen to know her contact info and /or willing to pass on her info? I'd really appreciate it.
She's on watap 👇
Thank you so much❤This is so helpful for future entrepreneurs.
Thanks! Honest and straight forward information on this You Tube Channel to help us.
As someone that would like to open their own Bullion webstore, I can definitely see now. How an accountant is worth their weight in gold. 😀
Happy to see comments like this. Thank you, Mando!
Very well produced and informative video, Thanks for this!
Hi Davie, can you do a video on setting up business based on the "gig economy"? Setting up, tax deductions, tax reporting etc etc
Will add it to the list thank you!
Great video!
Could you do a video on claiming car expenses, log book vs cents/ km and recommendations for apps?
I'm doing some research on some apps available on android.
Very informative video. Thank you!
Glad it was helpful!
What things would a online server hosting company need
What do you recommend to start selling products on Amazon? Sole trader, Company, Partnership, or Trust?
Yeah see I used my gst to build and buy everything for my business with the thought it was like a hex fee or something but it says I owe over 100k now 🤦♂️ I made the mistake of making a business and thinking I could handle it but it’s a nightmare and you need an accountant because the ATO demands you to submit a bas so you do that and straight away there is $18 k in the accounts and being threatened of legal action if bas isn’t completed and then after some months I’m told I have to pay it back , luckily now I don’t have to submit any more of them and was able to just stop at 100 k over seen people go over half a million
Hello Sir,
Do we need use KYB before registration business ?
I need to purchase some equipment - pc/printer/label printer/cricut machine for a business I would like to start, to claim as a business expense, Do I need to have this invoiced into a business name?. I have not started anything so just wondering if I need to do business registration etc first Or if I can just purchase using my name
Yes you do - in the business name unless you are a soletrader than you can have it under your name
I want to register my company in Australia any reference for services provider?
Hi, do I need a special license to start my home-base T-shirt printing business in Australia? (Not a POD or dropshipping) I do have ABN. Thank you.
Not that I am aware of in Australia
Do you have a printing machine?
Hi. Can you explain how to establish my own company In Australia as a non-Resident to give design services. i am from sri lanka🙏
Greetings from Kenya.
I am 58.
Can I qualify?
What is the amount required for investment?
Hi Can a New Zealander or non-australia citizen be a Sole Trader in Australia.
Yes thats fine - as long as you are based in Australia that is fine
A very informative channel and great contents i enjoyed watching most of your videos thanks for sharing .]][
Glad you like them, Yasin!
Hi I just bought a truck and am going to start a delivery service. I need an accountant. Can you help
Of course, search up box advisory services and book in an appointment
I have a 4 car carrier truck I run myself do I need an accountant or do you recommend anyone in Brisbane/Logan area I have trust issues because my mums accountant ripped her company off and she had to claim bankruptcy.
Unfortunately we don’t work with any accountants in that area.
But we are nation wide and online based so feel free to reach out to us :)
Do you have a website or email address I can get in touch with you
@@lastthomas6181 google box advisory services :)
Hi if I open a clothing brand online in Australia; Do i need to register my bussiness? I don't have any sales as of now
Yes you do
As you need an Abn to do business in Australia
basically need have a little background of experience
Hi Davie, i'm voluntarily deregistering my company next year. I'm a sole director/sole shareholder/single person in the small company. After I cancel my workcover policy, they will issue me a refund. I believe that i cannot pay this refund (it will be company profit) using wages or director fee as i'd need to have a current workcover policy to pay that (and I would have just cancelled just that!). Kind of a catch 22 scenario there! Is my only option to pay it out as an unfranked dividend? Can it be done on the final tax return? Do I need to report it on the next BAS or just the EOY company tax return? I need to find a tax account who can teach me how to legally record correctly a unfranked dividend as i've never needed to do it until now if this is the case!
Hard to give advice with out looking at the books for this question. It depends on your directors loan account, retained profits, carried forward losses, franking account and etc.
I would say you should pay for an accountants time in this question and get a consultation :)
All the best :)
I know nothing but how can a refund be considered profit🤷
@@thisiswhynobodylikesme272 The refund cannot be paid to me directly as it is the company which used it's company money to pay the workcover insurance. Which means that if the refund was eventually paid out to me from the company, it would need to be taxed. it's only potentially paid out to me as i'm the only one in the company (and only shareholder), otherwise it would be distributed between shareholders
Can a foreigner start an lllp in Australia ? Without the other Australian citizen
A foreigner can but they must be based in Australia (don’t have to be an Australian citizen)
@@DavieMach I’m a foreigner, American, and I want to open up a business in Australia. I have not moved there yet since I’m still trying to figure out what visa I would need. Is it possible to start a business in Australia from the USA?
💯
Thanks for watching, Rahool!
“ To be an enemy of America can be dangerous, but to be a friend is fatal.”
- Henry Kissinger
Hi,
I am not Australian but in Australia. I have just started small online jewellery business worth $1500. I am thinking to sell my products on Etsy and shopify too. Do I need to register my business? I have my personal ABN number. Can I used that? I am running this business by myself only.
I need an account in Australia. Can you assist me?
Hi Davie, are you in Sydney? if so can you be my accountant?
I wanna open a coffee shop in Byron any tips
Yes watch my videos :)
How can I contact you
Search up box advisory website and book a meeting with the team :)