Business Setup Checklist for Australian Businesses
Get Ready to Turn Your Business Plans Into Action
Starting a business in Australia? Preparing a few key details can make it easier to understand your next steps.
Use this business setup checklist to organise your ideas, registration details, expected costs, and questions before your consultation with The BAS Agents. Complete what you can and bring any unanswered questions to our team.
1. Outline Your Business Plans
A clear description of your business helps your adviser understand what you want to achieve and the support you may need.
Describe the products or services you plan to offer.
Identify your intended customers.
Note where you will operate: online, from home, or from business premises.
Choose an expected starting date.
Write down your main goals for the first year.
2. Prepare Questions About Your Business Structure
Your ownership plans and business activities are useful starting points for discussing a suitable structure.
List the people who will own and manage the business.
Note any structure you are considering, such as a sole trader, partnership, company, or trust.
Record any existing business structure you already use.
If you are considering a change, explain what you want that change to achieve.
Prepare questions about setup costs, administration, and ongoing responsibilities.
You do not need to decide on a structure before your consultation. Bring your plans so you can discuss the options relevant to your circumstances.
3. Gather Your Registration Details
Knowing what is already in place helps identify which applications or updates may need attention.
List any ABN, business name, company, or GST registrations you already hold.
Have your current registered business details available.
Note any previous registrations that may be relevant.
Prepare your business address and contact information.
Write down questions about ABN applications, company setup, or GST registration.
Note any licences or permits you need to investigate for your activities or location.
The registrations you need will depend on your business. This checklist helps you prepare for that discussion.
4. Estimate Your Sales and Business Costs
Initial estimates help you see what it may take to start operating and manage your everyday expenses.
Estimate your expected sales for the first 12 months.
List setup costs, such as equipment, stock, a website, or premises.
Identify regular expenses, including rent, software, utilities, and supplies.
Note how you plan to fund your initial costs.
Consider when customers will pay you and when your bills will fall due.
Prepare questions about budgeting and cash flow.
Your figures do not need to be final. Use your best available estimates as a starting point.
5. Plan Your Bookkeeping and Record Keeping
Organising your records early can make everyday administration easier as your business gets busier.
Consider how you will receive customer payments and issue invoices.
Choose a consistent way to organise receipts and purchase records.
List any accounting software you already use or want to discuss.
Plan how you will keep business and personal transactions clearly identifiable.
Decide who will record transactions and review the books.
Identify where you would like bookkeeping or BAS support.
6. Identify Your Staffing and Support Needs
Think about who will help run your business and which tasks you want assistance with.
Note whether you will work alone, employ staff, or engage contractors.
List the roles you expect to need and when.
Prepare questions about worker arrangements, payroll, and employee records.
Identify tasks you plan to manage yourself.
List services you would like support with, such as registrations, bookkeeping, BAS, or payroll.
Highlight your most urgent questions for the consultation.
What to Bring to Your Consultation
Bring your completed checklist, available registration details, estimated sales and expenses, and any questions you have.
If some details are still undecided, that is fine. The consultation is an opportunity to discuss your plans and understand where you need further guidance.
Explore Business Setup Support
Find out more about the services available from The BAS Agents:
Company Setup
Explore support with establishing a company and organising registration requirements.
ABN Application
Learn about the information to prepare and the application assistance available.
GST Registration
Get help understanding whether registration applies to your business and what comes next.
Ready to Discuss Your Business Plans?
The BAS Agents can help you review your setup needs and organise practical next steps. Start with a conversation about your business and the support you are looking for.