STARTING A NEW BUSINESS?

When you're starting out in business you don't have to work it out all on your own, there are many free or low-cost resources available to advise and guide you on a range of business matters.

This applies also to those wanting to expand their business.

While the dream of owning your own business probably lurks inside most of us, the reality of running it, is something else altogether.

A few things you might want to consider:

Find a reputable business advisor or mentor in your area to help you start and/or grow our dream.

Having an expert with extensive business experience and knowledge who can advise and guide you on a range of business matters will not only give you the confidence to make informed choices but can alert you to the pitfalls and nuances that come with the territory.

You can find a range of business mentoring in your state or territory by going to your local Business Enterprise Centre for help.

Then there's the myriad of rules and regulations that apply to each state or territory you operate in - which is where a professional business advisor comes into their own. Not only can theyhelp wade through the statutory minefield with you, but they can usually assist with financial advice and sourcing specialist grants/assistance.

As far as doing some initial due diligence and finding your feet though, you can check out this list of advice and support resources in your state or territory.

And finally, have a business plan!

Planning out your business gives you direction and keeps your business on track. You'll also need a business plan if you looking to secure finance.

There's a number of excellent introductory business videos you can take a look at produced in conjunction with the Australian Federal Government.

Owning a business is a big investment in not only terms of dollars but in time, emotion and heartache - but the rewards can also be amazing, so do the math, have the right people around you then plan, plan and then plan some more before you make the leap.

If you would like to have a chat about Starting a New Business, we would love to help you so please give us a call on 02 9821 2455.