So you have decided to start a new business? You have a novel idea or a better way of doing things? What’s next?
Our business advisory director, Nadia Sabaini, has developed a valuable 10-part guide for budding entrepreneurs looking to turn their idea into a reality.
In this guide, Nadia has identified the top 10 actions to consider before embarking on a new business journey. These considerations are invaluable knowledge for start-ups and can help maneuver your business down the right path with the appropriate awareness for the business environment in which you intend to operate.
#6: Ensuring your start up’s licenses and policies are in place
It is imperative for start ups to have their necessary licenses and policies in place before they commence trading.
During your business research and planning you will have hopefully discovered any licenses, permits and other requirements that you will need.
If you live in Queensland, a good starting point is to use the Queensland Government’s Australian Business Licence and Information Service which contains a guided questionnaire on your proposed business designed to identify any possible licenses, permits and other requirements you may require. You should also enquire with any industry association in your industry, membership may provide you with access to industry services and compliance advice.
Most Government departments offer hotlines designed to assist customers with general information. However, should consider engaging a qualified industry consultant to give yourself the best chances of success in applying for Government licenses and permits, particularly if you are applying for licenses in specialist areas such as environment, liquor and gaming.
If you will be collecting personal information, credit information or tax file numbers, you may be the subject of data breach reporting obligations and you will need a data breach response plan.
Your lawyer can assist you with the formulation of policies and practices for your business. If you are engaging a business consultant, they may also advise you on these matters and provide you with pro-forma policies, but make sure that you review them and that they are satisfactory for your business. Policies should be reviewed regularly with you business plan and actively implemented with your staff.
If you live in Queensland, visit this Queensland Government’s Business Queensland website for useful information on licenses, permits and policies required for start up businesses.
For more information regarding your start-up journey, download the full guide below or contact us today.
Read from the beginning: #1: How to Make a Real Business Plan for Your Start Up
This guide is provided by way of general assistance only and for marketing purposes. Please contact us to discuss your personal situation and further information you may need.
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