Start and Run a Business in Australia - ProfitableVenture Australia

Invoices are important in today’s business activities. They act as evidence of transactions made and can be a reference point for past activities. There are two main types of invoices; tax and standard or retail. It is easy to get confused about what makes an invoice a tax invoice. After all, they look alike, they…

Yes, you can do business on student visa in Australia. Ideally, under Australian visa requirements, you are allowed to work for up to 40 hours per fortnight (or, 20 hours a week). If you only spend 20 hours a week working on your business then, technically, you are complying with your visa conditions. However, it…

The Infection prevention and control guidelines for hair, beauty, tattooing and skin penetration industries (2019) helps those involved in these industries to comply with requirements in the: Public Health and Wellbeing Act 2008 (the Act) and the Public Health and Wellbeing Regulations 2019. The Act and regulations documents can be found at the Victorian Legislation…

There are many reasons why partnership can be dissolved and chief amongst them is disagreement between the partners. Other reasons are decline in profit, accumulation of debt, loss of interest in the business, the death of a partner or bankruptcy, a court-order dissolution due to incapacity or unsoundness of mind in one of the partners…

The Australian government boasts of taking the safety of workers very serious, which is why there is a legislation mandating emergency preparedness across all sectors of society. For instance, there are Fire Safety requirements, covered by many pieces of legislation, Regulation, Australian Standards, reference guides and codes applicable to various jurisdictions across Australia. Note that…

When you sell a product or service, you are expected to comply with fair trading regulations. When you buy a product or service, you have consumer rights and guarantees. Fair trading laws ensure that trading is fair for your business and your customers. Ideally, the Australian federal and state laws protect you, your business and…

An ABN is a unique number provided by the Australian Business Register (ABR) as an identity for businesses in Australia. The ABR is charged with maintaining a comprehensive database of registered business information. Customers, other businesses and government bodies can use the database to identify you and your business. You can apply for an ABN…

The fact that it is easier to start a business as a sole trader means that people readily go through that route to start their business in Australia. But when it comes to doing business on a larger scale, there is a limit a business that operates as a sole trader can go, hence the…

Franchising is one of the ways of starting a business but it is important to point out that franchising is not a business, but rather a way of doing business. It is a unique and highly effective method of distributing all kinds of products, goods and services. It’s also an industry that generates direct and…

Market stalls are a renowned way to make some money without the structure and commitment of a traditional retail outlet. Numerous people make a living from markets. Others take the opportunity to earn some cash from their hobby or side business. Market stalls can even be an ideal way to get motivated to declutter. You…

No, you may not need an ABN to sell at markets in Australia. However, it all boils down to the nature and scale of your operation and if your primary intention is to make profit or solely for leisure. In Australia, there are two approaches you can take to a business: a casual or a…

Yes, it is very possible to have two or more businesses registered under the same ABN. However, you are expected to make sure they are of the same business structure. If the business is a different structure then you will need to apply for a new ABN. What is an ABN? ABN stands for Australian…

Yes, you can grow tobacco in Australia, but you will need an Excise – Producers Licence. It is illegal to grow tobacco in Australia without the appropriate excise licence. There have been no licensed tobacco growers or manufacturers in Australia since 2006. Howbeit, organised crime syndicates have continued to orchestrate these growing operations, sometimes by…

Indians are amongst the most traveled people in the world hence it is easier to find Indians in Australia where they strive to contribute their quota in building the economy of their host countries. A 2016 statistic shows that there are about 430,000 Indians legally living in Australia. With a total number of approximately 300,000…

Brisbane is the capital city of the state of Queensland in Australia. With a population of about 2 million people, it is the third largest city in Australia. As a city that prides itself as a genuine new world city that is rapidly developing creatively as well as being forward thinking, Brisbane is an attractive…

Do you want to send from Australia to loved ones or business partners? If YES, here are 5 cost effective ways to transfer money from Australia to UK, USA, India. If you are the type of fellow that wonders at anything, then you might also have wondered how money gets transferred from one far end…

One of the first things a financial manager would tell you is that if you want to secure your future, then you must be ready to save and invest your savings. Investment allows you to put aside some of the resources that you have now and allow it to work for you so that at…

For those who live in Australia and want to start a cleaning business or those who intend relocating to Australia to start their own cleaning business; the two options you have is to first build your cleaning business brand from the very scratch or secondly and alternatively buy the franchise of an existing and prosperous…

Melbourne is an exciting city where modern architecture and design is juxtaposed with heritage buildings reflecting Australia’s unique history. As the capital of the state of Victoria, Melbourne’s resource boom presents the single most significant opportunity for the state economy over the next 20 years. Beneath the city’s impressive façade, lies the true heart and…

The Political Stability and economic strength of Australia has made it a very attractive place for investors over the years. Investors consider Australia a low-risk business area. In addition to its economic strength, Australia’s 30% flat rate taxation policy also makes it an even more attractive place to do business. For those who don’t know,…

Do you want to start a gym business in Australia by buying a franchise? If YES, here are 21 best gym franchise opportunities in Australia and their cost. Gym business is gaining more grounds in recent times than it had in the 20th century. People are now more aware of the immeasurable benefits they stand…

With its beautiful cities, glorious sunshine, pristine beaches and the great outdoors, Australia has been topping the charts as one of the most livable cities in the world today. But these features are not the only thing going for this vast country; it is also a good place to start a business. Not only does…

Love it, hate it, believe in it or ignore it, religion is big business. The fact that religion is tax exempt in many countries of the world equally adds to its appeal. But when it comes to thinking out a business, not many entrepreneurs would want to go the religious route because of the dicey…

Is your bad credit score a turn-off to lenders in Australia? If YES, here are 10 best sources of unsecured small business loans with no personal guarantee and their interest rate. Unsecured business loans provide you with the platform to borrow money for your business without the need for collateral. Unlike secured loans that request…

A Value Added Tax Identification Number or VAT Identification Number (VATIN) is an identifier used in many countries for value added tax purposes. Mainly in the European Union, a VAT Identification Number can be verified online at the official EU VAT Information Exchange System (VIES) website. You can also use this website to confirm that…

The FW Act mandates employers to make and keep employee records with a vast array of information, and to keep these records for a minimum of seven years. However, the definition of ’employee record’ under the Privacy Act 1988 (as referred to by the Fair Work Act 2009), is for personal information held by an…

If you own a business, one of the professional things you need to do is to value the business. Interestingly, valuing a business is not solely for people who want to sell their business. Even if you want to buy or apply for a business loan for your business, the value of your business would…

In Australia, you can send a letter of demand when you have tried unsuccessfully to get your invoice paid and it is time to take more serious action. Note that this is an opportunity to put your concerns in writing and offer the other party a chance to seek solution before further action is taken….

The franchising industry is one of the fastest growing industries in Australia, and the industry represents 4 percent of the economy of Australia which translates to roughly $144 billion. It has equally created an estimate of 500,000 job positions. A recent study conducted shows that there are about 1,160 Australian franchise systems and an estimated…

The country otherwise known as officially known as the Commonwealth of Australia comprises the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. Australia is a developed country and one of the wealthiest in the world; it prides itself as the world’s 12th-largest economy. In 2014 it had the world’s fifth-highest per capita income….

There are loads of facts and figures that make Australia exciting. Since it’s a tourist centre, it is not surprising that people throng the states to do one form of business or the other there. This is because of the human and capital resources that the country possesses. As there are a lot of opportunities,…

In Australia, GST is an abbreviation for Goods and Services Tax and if you want to register for GST in Australia, you can do that by phone or through your registered tax or BAS agent when you first register your business or at any later time. This is called ‘standard GST’ registration. Please note that…

It is not out of place to start your business as a Sole Trader, but if indeed you want to grow and expand, you would need to change your business status from Sole Trader to a Company. The truth is that if your intention is to grow the business and have distribution networks and service…

Indeed dealing with clients who choose not to pay for products or services delivered is all too common. Every business owner who has been in the game for any significant amount of time will deal with customers who simply refuse to pay. Often when you are a small business, such as an electrician, you provide…

Australia and of course most developed countries have local, state, and federal laws that address refusing service to customers. Under that law, you cannot discriminate on the basis of protected classes: race, gender, religion, etc. Under Australia federal anti-discrimination laws, businesses can refuse service to any person for any reason, unless the business is discriminating…

Yes, you can have more than one ABN in Australia, but it will surely depend on the structure of the businesses you intend to do. In Australia, anyone can even conduct any number of businesses/activities under the same ABN provided they all operate under the same business structure. But once your second or subsequent business…

Yes, as a sole trader in Australia, you can employ workers in your business, but you can’t employ yourself. As a sole trader, you are responsible for paying your worker’s salary. You are also responsible for your own salary and may choose to pay it into a fund for yourself to help save for your…

In Australia, the penalties for a business not keeping the required records can range from a few Australian dollar fines to business closure, depending on the scale of breach and the country region. According to the FWO, inaccurate record keeping is a major concern: some two – thirds of the court cases it instigated last…

The cost of starting a business in Australia varies greatly and it is dependent on several factors including the size, type, industry, and structure of business you intend starting. But generally, if you intend starting a small business, you are expected to spend anywhere between $3,000 – $5,000 and it could be more depending on…

In Australia, there is no limit to what you can earn if the activities you are undertaking are a hobby and not a business. However, note that if the activity you are doing has more traits of a business and not a hobby, you may be mandated to apply for an ABN. And if you…

In Australia, there are certain financial thresholds instituted to determine whether or not a business needs to register for GST. If a business or sole trader has a turnover greater than $75,000, they are expected to register for and pay GST. But if this business or sole trader operates as a not-for-profit organisation, the threshold…

Technically, if you are running your own business, it is compulsory to get an ABN. You will need an ABN if you are carrying out a business operation or enterprise, and not working for somebody else. You need an Australian Business Number (ABN) if you are planning to or are currently carrying out business for…

In Australia, every local government region has its own rules about living in a shipping container. Most of them are similar, but you need to do your homework before you pop the box on your block. However, the requirements and permits you need might differ according to region and location. Rules and Regulations Guiding the…