A successful business starts with a strong foundation to build on - your name, business registration - the basics!

2. Starting your own business may sound like a good deal.
You can be your own boss and set your own hours. But
how much do you know about getting started, and
achieving financial success through business?
When it comes to starting a business, one of the biggest
questions to answer is:
What do I need to do, and how much money & time will it
take to get this business idea started?

3. WHAT WE WILL COVER & WHAT ACTIONS/ INSIGHTS YOU’LL LEAVE WITH
Gain an overview of key legal requirements for setting up and operating a
business in Australia.
Work through key business set up steps to help avoid unnecessary expenses
and reduce risk, including structure, name and business bank account
Consider the best online presence for your business (note: link to Session # 2)
Identify your business income streams
Identify and assess risks
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4. During this session we
will work on these parts
of the canvas

5. Not sure about any terms being used? Have you checked your
BUZZ WORDS?
Starting your own business can be exciting. However, the process can feel
overwhelming when you realise there are a number of regulations and
government departments involved.
Let’s look at registering your business and then break it down into some of
the most important set up steps…

6. Registering your business:
To officially operate your
business, you’ll need to register
for an Australian Business
Number (ABN).
You’ll need an ABN when
dealing with other businesses,
banks and the Australian
Taxation Office (ATO).
Applying for an ABN can be
completed online for free at
www.abr.gov.au

7. Question: Before registering a business name, which of the following do
you need:
a) an ABN or ABN reference number
b) a registered trademark
c) a business logo?

8. Answer
a) an ABN or ABN reference number
b) a registered trademark
c) a business logo
The answer is (a) an ABN or Australian Business Number.
To register your business you also need to decide on your business name.

9. Question: How long do you think it will take to
register your business name?
a) 5 minutes
b) Within 1 business hour
c) 24 hours
d) 1 working week
e) 28 days

10. Answer
How long does it take to register your business name?
a) 5 minutes
b) Within 1 business hour
c) 24 hours
d) 1 working week
e) 28 days
90% of people receive their ABN registration within 24 hours (or 1 business
hour if you opt for the express service). The remainder are chosen by the ATO
for a review before they issue an ABN. The review may take up to 28 days.
If you pay for your business name registration by credit card, you will usually
be registered within 60 minutes. Your record of registration will then be
emailed to your email address.
If you do not have access to a credit card or debit/credit card, and lodge
your application manually, you can expect to have confirmation within 28
days via postage.

11. Eat me Chutney –Part 2
Sarah – Little Flowers - Part 2

12. Activity: Let’s brainstorm together…
Imagine you want to start your business,
and as your first step, you log on to
Vistaprint online to order your business
cards.
What challenges would you face?
What steps might you have missed?
The most common reason why businesses (big and small) fail – they run out of
resources - specifically money! To ensure this does not happen before you even
have a chance to get started, it is important to 'plan' the start up steps!
In this way, you will avoid doing work that later needs to be redone, costing
you additional, unnecessary time, stress and money.

13. MY
‘GET STARTED’
PLAN

14. Business Structure
Criteria for other structures:
❑ Where two or more people share ownership of the business= Partnership/ Joint Venture
❑ A developed or high growth business with a Director and one Shareholder (although it
can have more of each) and the ownership of the company rests in the hands of the
shareholder(s)= Proprietary Limited Company.
If you are a self-employing, start up venture you will most likely be a:
Sole Trader
If you conduct business alone -without a business partner.
More Information:
https://www.business.gov.au/info/plan-and-start/start-your-business/business-structure

15. Choose your Business Name – Check availability of Domain Name –
Register your business & Secure your Domain Name and Hosting
• A good business name
should means something.
• Your domain name (URL) is
part of your brand, so it is
best to make it short, easy
to spell, pronounce, search
for on line and instantly
recognisable.
• Do your research…Check
domains, trademarks,
search engines and social
media sites to see if your
preferred name has been
already taken.
• If you can’t get the domain you want, add another
word, take a letter off, or add a letter or number. If
your preferred name is in use, you will need to get
creative! However, it is always better to go for a
name not already in use to prevent confusion.
• You will need both a registrar (e.g. GoDaddy) as
well as a hosting site (e.g. Shopify or
BigCommerce. A hosting service enables your
website to be viewed online by storing your
webpages on a server.

16. INSTRUCTIONS:
Work in pairs and search
on the internet for where to
register your:
- Business number
- Business name.
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Using the results you find in Google, can you identify what is legitimate and
not? Hint: if the web address ends in .gov.au it is a legitimate website for
registering. If it doesn’t – don’t use it!

17. Find the right financial service provider and product for you –
Set up your Business Bank Account – don’t forget to understand and
build the structure to fulfil your tax obligations.
• Account Name
• Transaction Sub Account
• Savings / Growth Account
• Tax (Set Aside)
• GST (Set Aside)
Remember the following
ATO Support Services:
Small Business Support
ato.gov.au/SBsupport
Business tax enquiries
Monday 8 am – 6 pm
Call - 13 28 66
Business tax self helpline
24 hours, 7 days
Call – 13 72 26
ATO Indigenous Helpline
Call – 13 10 30
Translating & Interpreting
Call – 13 14 50
Activity:
In small groups, work out what type of features
a small business operator would need for each of the
sub accounts. Remember to think about fees,
charges, and the number of free transactions needed
each month…

18. Complete a risk assessment of your emerging business or enterprise
to uncover what else you need to put into place (insurances,
licences, registrations).
Risk Probability Impact Action Plan to Mitigate
…. Low / Medium / High Minimum/Significant/Severe Action Plan Steps
ACTIVITY:
As a group, lets identify risks associated with a catering business using pop up tents for
service.
Now, working on your own, use the above headings, to think carefully about your
business idea. What could possibly go wrong (risk), how likely is that to happen
(probability), how bad would it be if that did happen (impact).
NEXT STEPS… You don’t need to resolve all the risks right now. Just ask yourself whether
the risks are:
1. A deal breaker (ie its high probability with a severe impact)?
2. Something to keep on your radar & steps you can take to lower the risk?
3. Something that can be managed by delegation/ out-sourcing?

19. Start considering the best online presence for your business.
ONLINE/ WEB
PRESENCE
• Wesbite
• Linked In
• FaceBook
• Instagram
• Twitter
• You Tube
• Pinterest
• SnapChat
Once you have the basics in place, you
can start setting up your online and/ or
face-to-face business presence.
Consider where your target market gets its
information from (note: think back to
Session 2. on your customer).

20. Build your business collateral (materials or resources)
Distribute your collateral across your chosen platforms to
develop your brand and expand your web presence
BUSINESS COLLATERAL
• Logo
• Business Cards
• Labels
• Flyers
• Other materials
Activity:
In pairs or small groups, discuss what types of business collateral you
think would be of most valuable to your business idea.

21. • Sole Trader
• Partnership / Joint Venture
• Company
• Account Name
• Transaction Sub Account
• Savings / Growth Account
• Tax (Set Aside)
• GST (Set Aside)
• Logo
• Business Cards
• Labels
• Fliers
• Other materials
Risk Probability Impact Mitigate
…. Low / Medium / High Minimum/Significant/Severe Action Plan
MY
‘GET
STARTED’
PLAN
MY
‘GET STARTED’
PLAN
• Linked In
• FaceBook
• Instagram
• Twitter
• You Tube
• Pinterest
• SnapChat

22. Choose the Business Structure that best fits your idea or business
Choose your Business Name – Check availability of Domain Name –
Register your business & secure your Domain Name and Hosting
Find the right business banking provider and products for you –
Set up your Business Bank Account – don’t forget to understand and build
the structure to fulfil your tax obligations
Complete a Risk Assessment of your emerging business or enterprise to
uncover what else you need to put into place (insurances, licences,
registrations)
Understand where your target market gets its information -
So as to align your choice of traditional marketing with a social media
platform & build your web presence
Build your Business Collateral - Distribute your collateral across your chosen
platforms to develop your brand and expand your web presence

23. In My Big Idea we looked at the ways to make money from “what’s in your
hand”. There are literally hundreds of possibilities! Every idea you have will
in your business will have many possible income (revenue) streams if you are
willing to explore them…
You will need:
CURIOSITY
PERSEVERANCE
TIME
WILLINGNESS TO STETCH YOUR THINKING

24. Income (Money + Resources) you can
use to run your business
321

25. Activity:
In groups, have a look at Kagi’s Instagram @nubia_designs and discuss:
• What are the income streams that you can identify in her business?
• Are they all from the same source or different sources?
• What do you think would generate most income at the start up stage?
• Are there any that surprise you?
• Do you think they “fit” with her vision and values of sharing African culture with
the Australian community?
Kagi, Nubia
Designs
Kagi is a Brisbane
based Sister who
has an art
business. She
initially thought she
would try and
earn an income by
selling her art.

26. Do they fit
with your
organisation’s
values and
mission?
Which ones
might take
time to
develop?
streams?
Are they “low
hanging fruit” with
a high likelihood
of success quickly
and easily?
streams?
Which ones
are the
priorities or
most
significant
ones?
Your
businesses
existing or
future
income
streams?
Art sales at
market
Adult art
workshops
Kids school
holidays program
Art sales online
+ commissions
Activity:
These are some of the sources of
Kagi’s income. Work on your income
streams in your booklet.

27. Check out the BOOKLET & BUZZ WORDS used in Session 3,
and get a sneak look at the BUZZ WORDS we will be using in Session 4.
© Global Sisters 2018
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