Get the winning formula on
How to Start Your Business

Know what to do and when with our guide on How to Start your Business, written by the expert Chartered Accountants at POP Business.

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The steps to starting your business

It’s no secret that thousands of businesses throughout 2021 have suffered due to the COVID19 pandemic. Luckily, with the government and a strong community, we’ve managed to navigate these rough waters and are starting to come out the other side stronger than ever before.

With this in mind, thousands of new businesses are opening every day and if all those people are doing it, why can’t you? We’ve got the winning formula to help you start your business the right way by knowing what to do and when.

1. Research your big idea

That one moment when your idea came to life in your subconscious was clearly inspired. But it helps to undertake some research to make sure you’re not the only one who thinks so. It’s imperative to do the market research to validate and refine your idea.

2. Create a business plan

Writing a business plan can help nail down your idea and give you a blueprint for executing it. Plus, you need this to apply for finance. Let’s identify the key elements that make up a business plan.

3. Develop budgets and forecasts

It’s time to run some numbers on your business idea. Budgeting and forecasting help with this so let’s break down the basics so you can build a financially sustainable business.

4. Set your pricing

Pricing can influence the number of sales you make and the profit you earn on each transaction. Let’s look at some pricing strategies to help find a balance between the two.

5. Choose a business structure

Your business structure can affect how much tax you pay, and how you’re treated by the law. It’s worth considering the pros and cons before deciding on your legal setup.

6. Register your business

After all the excitement of deciding to start a business, you’ll have some paperwork to do. These first tasks as a business owner won’t be the most fun, but they’ll help keep you out of trouble with the law.

7. Sort your start-up accounting

If you’re starting a business, then you’ll need to get familiar with some accounting basics. Let’s look at the main tasks, some time-saving tricks, and find out who can help with your small business accounting.

8. Create a website

Treat your website like an online version of your storefront. It’s the first impression for many customers and prospects. Get the basics on how to set up a business website, what to put on it and how to turn it into a money-maker.

9. Licenses, registrations & insurances

If you have any industry-specific bodies, licenses and/or registrations, it is important you register these against your new business ABN. It is important to do this before you start trading to ensure you are trading legally and adhering to any licensing requirements.

10. Get Additional Support

Seek out the support of industry experts who can support your business. You don’t have to do everything yourself – you can outsource accounting, legal, HR, IT and more to professionals who have built their businesses around supporting new businesses like yours.

Download the full eBook for FREE and take our in-depth information on each of these topics with you so you can access it whenever and wherever you need it.

Australian businesses that love our services include:

Jinitech Group

Offices in Melbourne, VIC and Sydney, NSW

Surfboardbroker

25 Granite St, Port Macquarie nsw 2444

Autism Swim

264-278 George St Sydney NSW 2000

PS40

Shop 2, 40 King Street, Sydney NSW 2000

Ocean Solar

Port Macquarie, NSW

What Our Customers Say

"The team at POP Business have been amazing for Sprintlaw. We have received high-impact and high-quality strategic counsel and tax accounting service from them. They represent truly modern-day accountancy at its finest."

Alex Solo

Co-Founder at Sprintlaw

"POP Business was the perfect accounting partner for Quicka when it came to finding an accounting firm. As a new and growing business, they took the time to really understand our business model. Highly recommend them for new and growing businesses."

Nathan Carroll

Co-Founder & CEO at Quicka

"Professional, knowledgeable and friendly accountants, who take the stress out of finances and tax. I highly recommend using POP Business for a seamless experience."

Erika Gleeson

Founder and Owner at Autism Swim

"I found POP Business to be extremely helpful providing technical tax advice. They went above and beyond in every situation to ensure I had a smooth experience. I cannot recommend them more."

Michael Chiem

Owner at PS40

"As a small business owner I'm constantly managing my cash flow and looking to find value in any service I take up. I found POP Business online and found their pricing to be affordable with great service. Very happy with the team at POP."

Chad Whatley

Owner at Surfboardbroker

Using POP Business has been incredible for my own business. Their team has been so helpful and understanding. I couldn’t recommend them more as an accounting partner for any new and growing business."

Alexander Rowlands

CEO at Ocean Solar

Whatever your tax needs, our team of experienced POP Business Accountants have got you covered.

Perhaps your small business is behind on your annual tax obligations?

Maybe you’d like to know if there’s other smart ways you can minimise your tax?

Or, it could be you’re looking for expert advice on how to growth-hack your business.

Good news. POP Business are the pros at all three. Tax shouldn’t have to be so… well, taxing. Drop us a line and you’ll never look back.

James Pham

Senior Accountant

Sidney Cachuela

Business Consultant