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What to consider when starting a business

Starting a new company is an exciting time – with business owners required to juggle the responsibilities of getting their company off the ground while also meeting a number of legal requirements.

Of course, as long as your organisation has the right advice, it is easy to start on a strong footing and set your enterprise up for long-term success.

To help, here are three important issues to consider when starting a business:

1) Registering your company

Among the most important steps when starting a business is to register your business with the relevant authorities. This will involve applying for an Australian Business Number, registering the name of your company and ensuring you have the necessary licences to operate.

2) Branding

Developing your business’s brand is an important step for your company, and will be invaluable in building a market presence for your company.

Once you have decided on a brand and registered the name of your company, make sure you trademark the name and any images, text and symbols that will be associated with your business. This step will ensure that this branding material will be legally owned by your organisation and will prevent other companies from imitating your unique design.

3) Choosing an office

Even sole operators will need to have a property in place when they first start out. This could be a home office, a desk in a shared space or a premise that the new company is looking to grow into.

Whatever the space you choose, make sure to understand the different requirements that come with each arrangement. If you are signing a lease, make sure to have this document checked by a commercial lawyer. Those starting a home business will also need to be sure they have the right advice in order to get their business off the ground.

By taking these steps, owners can be sure their enterprise is getting started on the right footing and will have the right foundations for continued growth.

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