First and foremost, if you want to start a business in Australia as a foreigner, you must secure the required business visa that will give you the legal status to start and run a business in Australia. There are specific visa options for non-citizens who want to run a business in Australia and they include;…
Starting a new business can be quite exciting; however, it takes more than just a good idea. You will want to know that the business will make money, and you will also have to convince investors and lenders that it will. Having an experienced accountant ensures that you can do this efficiently. Accountants also do…
To start and run a business in any country, you are expected to comply with certain business laws and regulations put in place to protect both the businesses and the people associated with them. Have in mind that complying with these laws will guarantee that your new business will run smoothly and efficiently without any…
Yes. Foreigners can start a business in Australia as long as they have the right visas and the appropriate legal knowledge and requirements. Without doubts, Australia remains one of the best nations in the world that encourages foreign direct investment via investor visas or allowing foreigners to enter the country and successfully start businesses. Foreigners…
Yes, you can start a business in Australia as an international student. To start a business in Australia, you must first apply and obtain a valid visa that allows you to work legally in Australia. Interestingly, the most preferred visa options are the student visa, Working Holidays, and the Business Innovation and Investment Visa. A…
Starting a market stall is often the very first route to self-employment that a good number of people take. Sampling goods and selling at markets is also a way to test the viability of your products, and see if there’s a substantial demand and opportunity to make money from the product. A market stall is…
Coffee is a critical part of the daily routine of many Australians. Owing to that, starting a coffee van business in the country remains a viable option for any willing entrepreneur. These businesses are usually situated around parks, stadiums and sports centers, airports, seaports, shopping malls, railway stations, bus stations, campuses, and other public facilities….
According to reports, the state of Western Australia’s economy encountered numerous crises as the mineral boom seemed to bust. Howbeit, it started recovering in 2018, and since then there has been year-on-year growth for the first time in many years in both household consumption and domestic growth. In addition, reports have it that business confidence…
Sydney is the capital city of New South Wales, and with a population of 5.4 million people, Sydney is no doubt the most populous city in Australia and Oceania in general. Statistics show that Sydney’s nominal gross domestic product was AU$400.9 billion and AU$80,000 per capita in 2015. Its gross domestic product was AU$337 billion…
Adelaide is the capital of South Australia and the fifth-most populous city in Australia. Compared with Australia’s four other major state capitals, Adelaide is growing at a much slower rate. In 2017, it had a metropolitan population (including suburbs) of more than 1,345,777, making it Australia’s fifth-largest city. Some 77% of the population of South…
Yes, grants are available at the national, state, and local council level for sole traders in Australia as long as they meet the government’s growth criteria. State-level grants are more or less available for traders that meet the State’s development agenda. This could be regional development, focus on a particular industry, job creation, or to…
In Australia, the Australian Taxation Office (ATO) is usually auditing businesses every 3 years or how often they “feel like it”. If the tax returns contain false information or the ATO found wrong tax figures that don’t meet the GST obligations, the ATO is allowed to audit businesses as often as they like. Presently in…
Most small businesses in Australia won’t need to pay their employees redundancy. However, under modern awards in Australia, some industries are expected to pay redundancy to employees. These industries include those covered by the Textile, Clothing, Footwear and Associated Industries Award 2010 and the Manufacturing and Associated Industries and Occupations Award 2010. In Australia, employers…
Australia is currently the tenth largest eCommerce market in the world by revenue. If you aren’t already offering and shipping your products to Australian customers, then as an eCommerce entrepreneur you are missing out on increased opportunities. Since Australia is a remote country, air and sea shipments tend to be very expensive and usually take…
The term redundancy became popular when the world fell into the great depression of the 1930s and most businesses had to take actions that will help the business not to suffer severe loss or be wiped out. Research on redundancy or better put downsizing suggests that downsizing (that is both voluntary and involuntary redundancy) is…
A de facto relationship is a domestic relationship in which two people, who aren’t married to one another, live together as a couple. Living together on a genuine domestic basis is how the law describes this type of arrangement. Sometimes, a person who is still legally married to a third party can be considered a…
The debt collection guidelines in Australia are a summary of the rules and responsibilities that apply to creditors and debt collection agents in the country. These guidelines are based on relevant sections of the Australian Consumer Law, the ASIC Act, the National Credit Code and other Australian laws covering debt collection conduct. The 2017 version…
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…
Do you want to know the key principles of consumer protection and fair trading in Australia? If YES, here is everything you need to know. 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…
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…
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…
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…
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…
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….
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…