Retrenched workers have the opportunity to embark on an entirely new career path and starting a small business is one of the many possibilities you could consider.
The information on this page provides links to a range of advice and support available to anyone thinking of starting a business.
It is important that you carefully consider the decision to start a business and get professional advice - only one third of small businesses succeed through the first three years of operation.
It is important to make sure that you have good financial management practices (including, having sufficient capital, not using business funds for personal use, managing their costs and anticipating rising costs) to help your business succeed.
Where can I get more information?
The Australian Government’s Business.gov.au website is a one-stop shop for anyone thinking of starting a business.
Before you start
The starting a business page provides checklists, templates, information and advice, as well as contact details for mentoring and financial advisers.
It’s a good idea to read the prepare yourself for business section first. This section provides a range of information on things to think about before starting your business, including:
- business planning
- analysing your business and personal goals
- thinking about whether there is a need for your product in the marketplace.
The business planning page provides advice and information on:
- creating a business plan
- developing a marketing strategy (including the use of social media)
- environment management
- succession planning.
A business plan template is also available.
Getting support and advice
The Advisor Finder finds government-funded business advisory services located in your area.
A list of general tools and resources, including checklists and templates is also available.
If you have an existing business, the National Small Business Support Line provides small business owners with a first point of contact to access information and referral services to improve their business sustainability and help better manage their business.
The Support Line can be accessed on 13 28 46 and (select option 1) and operates from 8am and 8pm (AEST) weekdays.
Business.gov.au has advice on how to handle your tax, finances and superannuation.
To start a business it is important that you register an australian business number (ABN).
You may want to consider undertaking small business training. Visit the myskills website for the most up-to-date information on training courses for school leavers, students, apprentices, and employers.
The Australian Competition and Consumer Commission
The Government’s Australian Competition and Consumer Commission (ACCC) offers a free online education programme designed to help small businesses learn more about their rights and obligations under the Competition and Consumer Act 2010.
New Business Assistance with NEIS
If you have an idea for starting your own small business, you may be eligible for New Business Assistance with NEIS.
New Business Assistance with NEIS provides individualised support to help you become a self-employed business owner.
There are 8,600 NEIS places available nationally each financial year, delivered by a network of 21 providers.