Business and Industry in Australia

Australia offers businesses a great atmosphere to set up shop and thrive – there are a lot of resources that one can look up on the web to not only formulate a business plan but also thrive.

Steps to setting up a business:

• The first step is to apply for an ABN – Australian Business Number – which is unique to a business. It allows a business to be identified and also pay taxes online and so on. This is a way to find out if there is another one with the same name, check for trade mark infringement and other business related services like registration and licenses.
• There are several portals where information can be found on the kind of business to start, what paperwork is needed, advice from the right sources, type of business to start, structure that would work best for a particular business model etc.
• Grants and assistance are available to businesses are available from state governments as well as the federal government – resources are available for people to check out which ones are best for their business. All this information is available for free.
• Employees are the biggest asset that a company can have – recruiting the right people, training and retaining them is vital to the success of a business. It is very important to understand the needs of a business as well as that of an employee. It is very important to get a good grip on the legal obligations under Australian law towards employees and also maximizing the impact of the workforce. Check out resources available on the business website.
• Taxes are a fact for every business and they have to be paid in a timely manner. Find out about the types of taxes, registration with the tax authorities, deductions and payments that a business has to deal with. Information can be found on the Taxation office in each state along with information on accountants and accounting firms which can do this in an efficient manner.
• Directories with information on government agencies, NGOs and other associations can be found on the Australian Government site – these are usually listed in alphabetical order.