Caution... exercise is harmful!

Are you looking to get into business for yourself? Perhaps you have a great idea or invention that you’re eager to get into the marketplace or you just want to turn your passion into your work. For those who dream of becoming their own bosses, here’s a quick list to get started.

1. Get an ABN – before you do anything else, you’ll need to make sure you’re a registered business. Businesses operating in Australia all have a unique Australian Business Number (ABN). Registering is easy, free and it can be done easily online. You need an ABN number for all your business transactions and invoices as well as for tax purposes. If you continue to be employed by an employer, your ABN is separate from your Tax File Number.

2. Account for everything - for some, this is the most painful and boring part of running a business but it needs to be done. You can hire staff or employ the services of a bookkeeper to keep track of your financials. Meanwhile, you have to be responsible for making sure that all of your business expenses are separated from your personal ones. Get into the habit of keeping a log book for your vehicle use and other careful records. If your business ever gets audited, you need to be prepared.

3. Get set up – whether you’ll be operating from home or leasing a small office or other commercial space, get your work station ready – that means computers, internet, printers and any other equipment that you’ll need. All of this can cost a pretty penny – but you can get some help. Instead of buying a brand new machine, laptop finance lets you lease the latest technology in a more cash flow friendly way.

4. Market yourself - get your business cards and stationery printed, expand your networks and get yourself out there. Start by talking to the people you know and always keep an eye out for new opportunities.

Starting a new business can be a life changing decision. Having a clear strategy, setting goals and targets and staying organised can help bring your entrepreneurial dreams to life.

Starting a business has its challenges and expenses, so you’ll want to reduce your initial set up costs as much as you can. Computer finance gives you flexible lease terms for all your essential technology – so you can keep your business cash flow healthy.