So! You’ve decided to go into business for yourself and take the plunge into the world of home-based business? Congrats to you! Loads of mums right around the world are doing just that and achieving some fantastic results. I know, because I’m in touch with just some of them and the success stories that are out there – wow!
Contrary to what some people may have you believe, there’s actually a bit involved in the process of setting up your home-based business. But rather than have you try and figure it out for yourself, I’ve put together…
…My To-Do List for Home Business Success!
Of course, this list is by no means exhaustive and there will be other tasks specific to your industry that you will be required to undertake, before opening for business. Here’s a general guide for you though:
- Choose a really great business name: I know, it’s easier said than done with so many names already taken! In thinking about your business name, you will need to check that no existing businesses already have that name. To do this, check your suggested name with ASIC free online business name search at where you can check company and business names right around Australia. After your check your proposed name on the ASIC search, you will also need to check the trademarks database (again, it’s a free online search) here. You must ensure your proposed business name yields NO conflicting names on both of these searches.
- Check that you can secure the domain name for your business: A web presence is super important this day and age for any business, so you must ensure – once your proposed business name checks out – that you can register the domain name for it. For .com.au domain names, you can search for availability at Net Registry or NetFleet where you can buy domain names at Auction.
- Register your business name: You must do this if you intend to trade with a name other than your legal name, e.g. Sharon Smith. If you chose to trade as “Sharon Smith Dressmaking”, you will need to register your business name. Registering a business name, see here for all the information you need to know about registering a business name in Australia. This includes guidance on how to get an Australian Business Number (ABN) or apply for a trademark and an outline of our fees. To register your business name, sign up for an ASIC Connect account or log in to an existing account.
- Get an ABN for your business: You will need one of these to start trading. Getting one is super easy – Steps to register your business name and what you need to complete as part of registering your business name.
- Check with your local council if there are any special rules applying to home businesses: You may need to get approval from your local council if you intend on starting a home-based business, so the best place to look for information is your local council website. If you don’t have clients coming to your home or plan to run an industrial shed or cooking on the premises, it shouldn’t be a problem at all.
- If you’re renting, check that your lease has no limitations applying to running a home business: Provided you don’t have clients coming to your house creating issues with traffic, noise and parking, your lease shouldn’t be a problem. Check the details of your lease or consult your property manager.
- Check to see if you have any special compliance or insurance obligations: Depending on your industry, there may be requirements for you to take out professional liability insurance, public liability insurance and adhere to certain legislation pertaining to your industry. Industry association websites are a great source of information for this sort of thing, as are small business forums such as Flying Solo at www.flyingsolo.com.au.
- Create a great image for your business: Just because you plan to work from home doesn’t mean you have to compromise on the professional image of your business. Invest in professional graphic design and get a logo created by an expert. Hire a web developer to create a fabulous website and social media presence. Enlist the help of a professional marketing consultant to help you get the most out of your marketing, and hire a copywriter to ensure your marketing and web copy is top notch. All of this will pay immense dividends for you!
If al of this seems a liittle ovewhelming you can outsource it all to a new service called Honcho, see here for a detailed review – This service is a no brainer. You get help with
- ABN and GST registrations
- Business dashboard
- Business profile website
- Professional email
- Send unlimited invoices
- 1 GB Essential Document storage
- Premium virtual office address
- Quarterly BAS lodgement
By ensuring all the necessary leg work is completed before you start trading, you will save yourself any stress that may come about by not being prepared. So get started today and get on track to making YOUR business success from home happen!