eSignature Legality for Startup Business Plan in Australia

How to eSign a document: eSignature legality for Startup Business Plan in Australia

hi Dani McKenna from the field group in today's video we're going to talk about the five steps to starting a business so step one is to do your research that involves identifying your customers what do they want what will they pay having a look at your competitors and determining what you can learn off them as to the positives and the negatives from why they're going about it you want to look at if you're buying an existing business you want to do some due diligence to ensure that you're getting what you're paying for and there's opportunity for you to improve the existing business once all that research has done you can move into step two and that's doing your business plan which is really important and we've got some templates and happy for you to contact us and we can give you that template but what the business plan needs to address is the capital requirements of the business the people that are going to be involved the equipment required talks about a marketing plan address the budgeting cash flow requirements of the business really important document that put together to help you get the business off the ground but also important when you're dealing with banks landlords and investors that may be coming on board to assist to get the business started to get an understanding of the seriousness of your commitment to the business so once you've got your business plan in place you move to structure and choosing the right business structure for you so the four main structures are sole trader which are designed for mainly small smaller type businesses a partnership which is like the sole trader but you know in business with someone else and then the more complex structures of trusts and companies which have their pros and cons we've done previous videos on all those four structures so feel free to check those out and then widen assist you in determining what structures best for you once your structures all in place then there's step four which is the registration process and these are the these are all required to be done to the other trading business so some of those will include your adn application business name registration then your registrations with the ato for tax file number GST there might be staffing that you involved in your business so then there's work car bar potentially payroll tax so then there's the other licenses and permits that you might need because of the industry arena so a restaurant owner might need a food handlers license a truck driver might need a heavy haulage license business professional I need a CPA certificate once all those are in place you set up your bank account you then move to step five which we think is very important and we see most successful businesses put a really good team around and say that's going to be a lot a lawyer to deal with any contracts and any industry specific legal requirements a good accountant banking and finance broker for you loan applications or day-to-day banking requirements of the business insurance broker to help protect the assets of the business and digital marketer and maybe HR consultant we hope this helps you get your great business idea off the ground [Music] [Music] you