Business Checklist.pdf - City of Perth

CHECKLISTMAKING AN INFORMED DECISIONBe well informed and critically exploreyour business idea to determine its viability.It is vitally important to consider awide range of internal and external factors,such as your motivation to start abusiness, your skills and experience,identifying your target markets, insurancerequirements (including publicliability), location requirements and yourfinancial situation and goals. Youshould also consult a financial planner(your bank may be able to assist).REGISTERING YOUR COMPANY ORBUSINESS NAMEThe Australian Securities and InvestmentCommission (ASIC) requires businessesto register their company nameand obtain an Australian CompanyNumber (ACN).SERVICES AVAILABLEAustralian Bureau of StatisticsW: www.abs.gov.auSmall Business Development CorporationW: www.smallbusiness.wa.gov.au/feasibility-of-the-business-idea/Chamber of Commerce and Industry Western AustraliaW: www.cciwa.comSmall Business Development CorporationT: Phone: 13 12 49W: www.smallbusiness.wa.gov.auAustralian Securities and Investment Commission (ASIC)W: www.asic.gov.au/asic/ASIC.NSF/byHeadline/Business%20namesIf you need assistance to determine thebest business structure for your businessplease contact the Small BusinessDevelopment Corporation.AUSTRALIAN BUSINESS NUMBERAND TAX OBLIGATIONSNot all business require an ABN. However;businesses expecting a turnoverof more than $75,000 a year must registerfor the Good and Services tax(GST).Australian Tax OfficeT: Phone: 12 28 61W: www.ato.gov.au/businessSmall Business Development CorporationT: Phone: 13 12 49W: http://www.smallbusiness.wa.gov.au/business-structuresBUSINESS PLANNINGA good business plan is like a map,showing the best path to take advantageof business opportunities andto achieve business goals.Small Business Development CorporationT: Phone: 13 12 49W: www.smallbusiness.wa.gov.au/business-planning/Business FoundationsW: www.businessfoundations.com.auChamber of Commerce and Industry Western AustraliaW: www.cciwa.com