Speak with your accountant to make sure your business is meeting all of its tax responsibilities. 7. Investigate all necessary permits and licences Visit business.gov.au to find out whether any national, state or local licences are required for your business. While you’re at it, check out the ATO’s fuel scheme info to investigate whether your business is eligible for fuel tax credits. 8. Open an Australian Business Account A one-stop shop for many government-related permits, licences and registrations and a rare and welcome partnership between national, state and local governments, an Australian Business Account can save a great deal of time and effort. 9. Understand the legal requirements Various laws apply to different businesses, products and services. A good starting place for small business owners interested in their legal obligations is the Australian Government Department of Industry. Australian Consumer Law, our privacy laws and the Competition and Consumer Act should also be understood at a general level. 10. Set up your accounting systems No matter how it is done, if an accounting system is set up properly from the very beginning and with future growth in mind, you’ll save an enormous amount of effort in the long run. All levels of business have legal and tax obligations when it comes to record keeping. Commercial offerings customised specifically for the Australian regulatory landscape, such as business2sell, ( take a lot of the weight off your shoulders, freeing you up to work on your business, not in it )/ Read more here Top 20 Small Business Investment Opportunities in Melbourne 1. Events Promoter: Events like business meetings, product launch, even family reunions all need people to organize them. If you like to plan and coordinate events, this is a perfect opportunity for you. 2. Restaurant/Eatery: People love to eat innovative cuisine that is different from what they eat daily. If you can cook creatively, you are bound to be very profitable in this business.
3. Club/Bar: The club scene in Melbourne is always buzzing; looking for the next hot place to go. If you are very sociable, and like to party, then this is for you! 4. Event DJing: If you have a great collection of music and a good sound system, you can hire yourself out as a DJ to various events and receptions. 5. Food Vendor: You can open a business selling food to people in the business districts from a food cart. It requires very little start-up capital and you perform a service to busy people. 6. Transportation Business: As a city with numerous bus lanes, waterways, tramways; most people find it a bit tedious to move about. You can offer a motor pool service that would reduce the time people spend using public transport. 7. Wine shop: With the numerous vineyards in Melbourne, a wine shop dedicated to serving the local wines could be a good boost for the industry. 8. Retail Store: A lot of tourists and even local residents like to shop at bargain prices. You can open either a physical store or an online store to render your services. 9. Fashion Boutique: Buy fashion pieces from brand name designers at discount prices and start your own fashion outlet. A lot of Melbourne residents are label conscious and will patronize your shop. 10. Coffee/Tea Shop: There’s nothing that breaks the ice between strangers than sharing a cup of coffee or tea. Offering coffee delivery services and also selling health teas are also some side-line business that would earn you more money from your coffee shop. 11. Tourist Guide If you know your way round the city and have a good knowledge of the secret laneways, you can start your own tourist guide business for newcomers to the city. You can even take it further by being a resource person and showing them how to use the transportation system, where the good shops are, where to go for entertainment and other essential services that they need to start up their new lives in Melbourne. 12. Laundry Delivery Service: You can offer to pick up people’s laundry and deliver it to them either at their homes or offices; saving them time. 13. Interior decorating: Being touted as a designer city, Melbourne boasts of tasteful homeowners. If you have an eye for design, many people would be more than happy to hire you to decorate their homes.