Before you start a business in Australia: a checklist
Last reviewed 2026-07-17
Getting the basics right before you start saves money and stress later. Here’s a practical run-through.
1. Choose your business structure
Sole trader is the cheapest and simplest to set up. A company (Pty Ltd) offers limited liability but costs more and has more obligations. Partnerships sit in between. Your structure affects tax, cost, paperwork and personal liability.
business.gov.au — Business structures
2. Apply for an ABN
An Australian Business Number (ABN) is free and identifies your business. You need to be genuinely running or starting a business to be entitled to one.
Australian Business Register — Apply for an ABN
3. Register a business name (if needed)
If you trade under anything other than your own personal name, you generally must register a business name with ASIC. Search the register first to make sure it’s available.
ASIC — Register a business name
4. Check whether you need to register for GST
Register for GST once your GST turnover reaches $75,000 (or $150,000 for not-for-profits). Taxi and rideshare drivers must register from the start.
5. Find your licences and permits
Use ABLIS to find the licences, permits and registrations for your industry and location. Food, trades, beauty, childcare and transport commonly need them.
ABLIS — Australian Business Licence and Information Service
6. Sort out insurance
Depending on your work, consider public liability, professional indemnity, product, and tools/equipment cover. If you have employees, workers’ compensation is compulsory.
7. Estimate your costs
- Add up one-off start-up costs (registration, equipment, stock, fit-out).
- Estimate monthly running costs.
- Keep a buffer for your first few months.