6 Things to Know Before Starting a Business in Australia

Are you pondering about starting a business in Australia? Australia is a market that businesses have been flocking to from around the world for many years. That trend shows no sign of changing any time soon. The fact of the matter is that there has never been a better time to begin doing business in the land down under.

However, like all countries, Australia has their own rules and regulations that must be abided by in order to legally operate a business there. Knowing the necessary steps that you need to take can save you time and prevent your business from becoming mired in a sea of government red tape.

1. Understanding the legal requirements

The vast majority of countries require companies operating within their borders to be registered. Australia is no different. If you are running a business in Australia, you will be regularly interacting from various agencies that represent federal, local and territory governments. Understanding the legal requirements is critical because it enables you to proper planning. Australian Consumer Law, our privacy laws and the Competition and Consumer Act should also be understood at a general level.

2. Business Visas

If you are a citizen of a foreign country who want to live in Australia on a permanent basis to oversee the daily operations of your business, you would be advised to hire an immigration lawyer to help you with the transition process. There are some certain requirements and the amount of money invested involved in this.

There are two types of business visa available to individuals who are interested in starting a business in Australia as a foreigner: the Business Innovation and Investment Visa and the Business Talent Visa. It is important to get the right migration advice from an immigration lawyer.

3. Employer requirements

There are various requirements that employers need to be aware of when they do business in Australia. All wages must be paid based on the State of Federal award. Every business in the country must register with the Australian Taxation Office. Accurate employment records must be kept. All businesses must pay superannuation contributions. All safety and health standards must be met. Lastly, all employment conditions and terms must be complied with.

4. Business name registration

If the name of your business is not registered and on file with the territory or state government in which it is located, you will not be legally permitted to do business there. Registration is needed for businesses with a name that is different than the person in charge of it.

Registration is also necessary for all businesses that want their website to have ‘a .com.au’ domain name. Since many companies rely on a stream of income to be generated through online sales, it is imperative that businesses are registered to have a domain name associated with Australia. Obviously, you can not register a name for a company if it has already been registered.

In order to avoid choosing a name that is already registered for use in Australia, contact the Australian Securities & Investments Commission and request to see the national business names index. This list has the names of all companies that are registered to do business in the country. There is no charge to look at the list.

5. Logo to be registered as a trademark (if needed)

Do you need to protect your brand? What about patent or copyright protection? Trademark registration Australia grants you the right to take legal action against infringing parties. It can be a lengthy and complex process, and so it is advised that you consult a trademark professional for a proper understanding of intellectual property issues.

6. Applying for an ABN

If you’re going to be registered to collect GST, then you’ll likely need an Australian Business Number (ABN). Register for an Australian Business Number (ABN) helps to confirm your business identity to others when ordering and invoicing. Some business directories online might even require your ABN to list your business on their website.

Read Also: 7 Tips to Overcome Burnout for Business Owners

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