When starting a business you need to ensure you have it registered with the relevant government departments and that you are compliant with your industries regulations. This article outlines where to access information on registering your business and ensuring you have the correct licenses.
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Have you registered for:
Licenses and Permits required: ABLIS helps you find the government licences, permits, approvals, registrations, codes of practice, standards and guidelines you need to know about to meet your compliance responsibilities. See ABLIS website.
Should you operate as a Company?
The Australian Securities and Investment Commission (ASIC) is in charge of the registration and compliance of companies. You will be issued with an ACN which you can operate under. The ASIC website provides an 8 step process to starting a company:
Step 1: Decide if a company or a business structure is right for you
Step 2: Choose a company name
Step 3: Decide how to operate your company
Step 4: Understand your legal obligations as an officeholder
Step 5: Get consent from officeholders, members and occupiers
Step 6: Register your company
Step 7: Understand your legal obligations regarding your company name, ACN and ABN
Step 8: Order a commemorative record of registration (optional)
To understand more about operating a company visit the ASIC website.
We hope this article has helped you understand what is involved when starting a business. Its important to consider these factors when purchasing a business for sale to ensure it is compliant with regulations.