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Your Guide To: Starting Your Own Business

Your Guide To: Starting Your Own Business

Have you ever thought about what it takes to start your own business? Last week, we spoke about the choice between becoming a sole-trader or working as an employee. For those who are convinced to start work as a sole-trader, this article is for you!

Starting your own gas or electrical business requires a lot of responsibility and hard work, but if you’re truly passionate about it, then in the end it is really worth it.

Queensland Government Business & Industry Portal have a whole lot of information to aid you in opening your first business. From plumbing and gas, to electrical and business, they cover every area with in-depth information and resources to help you start-up. Here are our personal tips to help you hit the ground running.

8 Steps to Start Your Own Business

1. Make sure you have the correct licences

If you are working as a full gas fitter doing servicing and installation, make sure you have you full licence and have paid for enough years so that it doesn’t expire.

2. Do up a business plan and determine your goals as a business

This can be used to give you a clear understanding of exactly where your business fits into and help you determine your short and long term goals.

3. Understand which business structure you fit into, and do research about your competitors/field of trade

The 4 most common business structures are:

  • sole trader
  • partnership
  • company
  • trust

4. Choose your business name and keep track of your accounting

Find something unique but explanatory that clearly indicates what you do, otherwise use your name.

5. Know your rights and responsibilities, tax information etc.

Establish your business accordingly to these.

6. Network and watch webinars

This is so important, you must continue to stay current within your field of expertise.

7. Market your business

Create a website, connect it to social media (Facebook page, Twitter and Blogging) and get your friends and family to share it. Add your information to all local directories such as the Yellow Pages, online catalogues etc.

8. Watch the clients come in!

For more information about starting your business review the following links.

Setting up your own business

Advice and information

Are you thinking of starting your own business? Tell us about it in the comments below…

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