Running your own online business may pay benefits in the long run – the expanding eCommerce industry in Australia is projected to reach $32 billion by 2024. According to Predictive Software & Services, 1 in 10 items is purchased online right now.
Unlike many countries, Australia requires you to register your company before you can acquire a .com.au domain name (which, as any experienced SEO firm will tell you, is critical).
We’ve put up an in-depth tutorial on how to start an online company in Australia to help you make the transition. We’ll go through the steps that every startup must take to run lawfully first. Then we’ll show you how to guarantee your website makes a difference.
The Basics of Starting a Business in Australia
Before you can begin considering trading online, you must accomplish the following items on your to-do list:
1. Select the best business structure for your company
Sole Trader, Company, Partnership, and Trust are the four company forms in Australia. The appropriate structure is crucial since it determines the kind of entity you’ll end up with.
- Your level of control
- Regulatory obligations
- Taxation
- Health and safety requirements
- Personal liability
You’ll be responsible for all legal aspects of your business if you register as a Sole Trader, but you’re allowed to employ people.
A company has its own set of laws separate from those that govern the shareholders.
If you want to start a business with other people, you’ll almost certainly need to establish it as a Partnership.
If you have any assets for the benefit of a third party, you must establish a Trust.
You might want to get advice from a lawyer or an accountant to determine which business structure is best for your needs. An expert may also be able to explain how your company structure affects COVID-19 health and safety standards.
2. Register your company name with the Australian Business Number (ABN) agency and receive your business number
You can’t operate lawfully in Australia until you have an ABN, which is a one-of-a-kind 11-digit number that identifies your business. You may register your company name, claim taxes, seek funding, get a domain, send invoices and purchase products from other businesses after you’ve obtained an ABN.
3. Obtain a domain name that is SEO-friendly
You’ll need to purchase a domain name that ends in.com.au that is related to your business, distinguishes you immediately, and helps you rank well in search engines. You may use the internet to check whether a certain domain is available.
Choosing the appropriate domain name is critical for your online success. If you pick a deceptive name, your clients may be frustrated when they can’t find you, and you’ll have to rename your company.
4. Consider funding sources
If you don’t have the cash to meet your costs (including those you didn’t realize about), explore alternatives for financing. Before taking out a small business loan, check into NSW’s various government start-up funding opportunities or your local area’s similar programs.
Grants are available to assist your business in a variety of areas, including:
- Marketing and sales
- Purchasing equipment
- Employment
- Exporting and importing
With regard to obtaining financing for your business, discussing your needs with a lawyer or accountant will be beneficial.
5. Register for taxes
Taxes are unavoidable if you want to trade legally online in Australia. To avoid fines, you must register for the proper taxes, so schedule an appointment with a tax advisor before making any major decisions. An accountant may also advise you on how to reduce your tax burden.
6. How to Set up Your Online Shop
You’ve completed the tedious aspects of getting started an online business. Now it’s time to move on to the more interesting elements of beginning your own web While we feel that the procedures outlined above are more enjoyable than those listed below, you must follow all of the steps carefully or your website will never have an effect.
Getting in touch with an SEO expert is the simplest approach to get a head start in the internet world, but here are the steps for setting up a website:
- Build a website
- Carry out comprehensive keyword analysis
- Create an SEO-friendly website structure/sitemap
- Fill your website with targeted content
- Audit your website
- Submit website to Google
- Create a digital marketing strategy
- Prepare your website for a post-covid world
7. We can assist you in ensuring the success of your internet business.
Why go through the trouble of creating an online store by yourself when you can hire a web developer to make it simple?
We’ve been assisting internet enterprises to get off the ground for years at Smart Traffic, and though we’re located in Sydney, we can give advice to businesses throughout Australia.
We’re here to assist you whether you’re just getting started or want to improve your website’s conversion rate, traffic, and profitability.
