Small Business Series - Part 1: You’re thinking about starting a business
What would you do if you woke up tomorrow with a brilliant idea for a new small business doing something you love? Would you know where to start or would you feel overwhelmed about turning your idea into reality?
Our upcoming series of blog posts is designed to offer you insight into the steps for starting a business. We will talk about topics like:
the difference between a hobby and a business
planning and initial steps
choosing a business structure
setting up financial systems
tax and GST
cashflow and budgeting
common pitfalls and how to avoid them
Throughout our series, we’ll use a case study of Katie to illustrate our insights. Katie loves to bake for her family and friends and is thinking about how to turn this passion into her own small business. Of course, we’ve changed names and details to protect client confidentiality.
Let’s get started on this journey!
Disclaimer: Information provided is intended to be general in nature and is not personal, financial or tax advice. It does not take into account your individual objectives, financial situation, or needs. Before acting on any information provided, you should consider whether it is appropriate for your circumstances and seek advice from a qualified professional.