Did you know, 98% of Australia’s enterprises are made up of small businesses. This means starting and running a successful small business is an attainable and achievable goal for many – however, only if you start off on the right foot.
Keep reading to learn more about the different types of small businesses in Australia and how you can start them so that your business runs as smoothly as possible!
When it comes to starting your own business, building on the basics from home may make for a more comfortable and familiar experience. You can sell and provide a wide range of services from your home, for example blog writing and copywriting services, accounting services and legal advisory services. As long as you are taking care of your tax obligations and operating your business in accordance with the Government’s occupational guidelines, your home can make for a great starting ground for your business.
Starting a home-based business will require you to develop a strong online presence and reputation. Due to your business not having a storefront, you will need your clients to find you online – hence why search engine optimisation and social media branding are integral to your home-based business’ marketing strategy. Attract virtual visitors to your business by improving your website’s visibility and building your brand on sole trader platforms such as Fiverr and Upwork.
Food and Restaurant Business
Regardless of whether your food business is a cafe, takeaway shop, restaurant or food truck, you will need to register with your local authority for a food business license. In Australia, you must obtain a food business license from your local council before being able to open up and start serving customers.
There are different registration and licensing rules according to different locations, thus it is important to check your state or territory’s guidelines and rules before applying for a food business license. You must also prove that your food business complies with national food safety standards obligations before starting your food business.
You can start your business both as an online shop or with a physical storefront. Either way, retail businesses are often the most expensive to start out of all the different types of businesses, due to the large supply of products you must have. In the case that your retail business also has a physical store, you will also need to pay a lease.
When starting a retail business, you will have to budget for things like rent, remodelling (if necessary), utilities, insurance, employees, marketing and merchandise. You will also need to factor in the costs of inventory storage and perhaps an office area in addition to your physical store. In addition to the general costs of starting a retail business, you will also need to take into account aspects such as vendor reputation and product supply quality.
There are many different types of small businesses in Australia, each with varying starting steps to take. Make sure to do your research and find out how you can increase your small business’ chances for success right from the get-go!