Great Australian Businesses-A Guide

By on 5-07-2018 in Business

Online shopping is experiencing a rapid growth in Australia; eBay alone has reported that an item is purchased every 15 seconds via the Internet. Even with those impressive figures Australia is still several years behind the UK and US for online internet sales. The Australian Institute of National Statics published that the current national internet sales for Australia is totaling $143 billion annually. Some internet markets are experiencing huge national and international growth; their online revenues have increased by up to 40%. A growing trend that is expected to change the market is the use of mobile internet. Reports from the first quarter of 2011 show that 25% of mobile internet users are shopping online. This is a great advantage for any business prepared to change the way it markets and sells its products or services.

When a consumer uses their mobile or laptop internet on the go, 88% will use Google’s search or Google Maps to visit a business directly or order from them online. It’s becoming increasingly important for any business to appear highly in Google’s search, for the products they stock or services they provide. The way in which a business achieves this is by SEO (Search Engine Optimization); they will choose the search terms and Keywords they want to improve in Google’s search, then often use a reputable SEO company to work on the search terms on their behalf.

Many small business owners will think that SEO is just for large businesses, but that’s just not true. Consumers are searching for hairdressers to florists, mechanics to fish and chip shops. When researching the American internet market it becomes clear that American consumers are searching for products or services using Google’s search; 95% of US sales online are from businesses positioned on the first page of Google’s search for the consumers relevant search term. This is an insight into the future of the Australian internet market in the coming years. As this change in purchasing rapidly takes hold in Australia, Australian businesses will be forced to adopt internet sales and marketing strategies like SEO, or risk losing future customers and sales to businesses overseas who have a stronger internet sales strategy.

Some businesses will choose to market their business using Google’s paid listing, which is paying Google to be advertised on the first page for certain search terms. Each time the company’s website is visited via a paid advertisement the company pays Google a fee; this form of advertisement is for a business looking for a small short-term increase in profits, but will never fulfill the expectations of a long advertisement campaign. With 77% of search users choosing organic over paid listing when searching, and 67% choosing organic search when purchasing, it’s clear that the most effect way and profitable way is SEO.

Review on Great Australian Businesses

By on 5-07-2018 in Business

Sole Trader: If you have found that registering as a sole trader is the right business structure for you then you must now register for: ABN Not optional, GST (optional, recommended), Business Name Not optional, Trade Mark (optional), Tax File Number (TFN) Not optional.  What is an ABN? An ABN (Australian Business Number) is a number which replaces your business name when dealing with Australian government departments such as the ATO (Australian Tax Office). This number and its details become a part of the ABR (Australian Business Resister).

What Is The Australian Business Register: The Australian Business Register is a collection of data from your ABN which government departments use you identify your business. How to get an ABN (Australian Business Number)? Simply go the Australian Business Registers website Or call the Australian Tax Office (12 28 66)

How long does it take to get an ABN? Once you have submitted your form, it can take 28 days to get an Australian Business Number.

ABN prices: An ABN in completely free. Public details of your ABN: ABN number can be accessed by the public from ABN LOOK UP

Register for GST

Registering for the “Good and Service Tax” You must resister for GST is you business turns over $75 000 or more or if you are a non profit business $150 000 or more. Register for Tax File Number If you have had a job in Australia chances are you will already have an TFN. However if you do not have one you will need one.

Registering your business Name: You must register a business name and display it where you are trading. To get a business name you must go to a fair trading office many are located around Australia. Price of Business Name The price of a business name is $175.00 for 3 years. How to get a TFN: The application form for a TFN can be picked up at any Australia Post Office. The Price of a TFN: Your tax file number is free.

Trade Mark: It is recommended that if you wish to trade mark your business that you get a trade marking lawyer. Price of Trade mark Trade marks start from around $3000.00. This tutorial explains in detail what business structure is right for you. It is imperative that you select the correct business structure for your business. Here are the main types of business structures currently available. Follow the Links for more details on the business structure you have selected.

Sole trader: It is recommended you select “sole Trader” if you are going into business for your self and you don’t have any employees. Sole Trader business structure is the simplest structure available.

Find out How to Start A Sole Trader Structure

Partnership: Partnership is recommended when 2 or more parties whish to start a business (Make note this is not a company). Both parties split the profits and liabilities equally useless specified.

Find out How to Start A Sole Partnership-A company is similar structure to a sole trader and partnership however it is a legal entity separate from the shareholders (the owner is also a shareholder). This means that it has limited liability, if the company was in debt, you would not be able to use the assists of the owner to pay off the debt because the owner is a shareholder.

What You Need To Know About Great Australian Businesses?

By on 5-07-2018 in Business

Starting a business in Australia can be either simple or complex, depending on the way you choose to structure your enterprise. Choosing The Right Structure For You. There are four basic structures that you can choose from -Sole Trader, Partnership, Company, Trust. Most people commence in business as a Sole Trader or Partnership. As the business grows and takes on employees many people choose to restructure by forming a Company. Trusts are a less common form of legal entity and it is rare that a new business owner would set up a Trust in the early stages of their new business. Regardless of the business structure you choose, the first thing you must do is to apply for an Australian Business Number, or ABN as it is more commonly known. Applying for an ABN is free and can be obtained in 10 minutes by visiting the Australian Securities and Investment Commission website.

If you wish to trade under a business name such as Jim Brown’s Pizza Palace you need to register this name with ASIC also. At the time of writing, this fee is $30 plus GST for one year or $70 plus GST for 3 years. In Australia, if you don’t produce an ABN, other businesses will often refuse to trade with you. When applying for an ABN, you need to consider whether you need to be registered for GST. If your annual turnover is likely to exceed $75,000, GST registration is compulsory. If your turnover is under $75,000 registration, in most cases, is optional. Most new businesses choose to report and pay their GST on a quarterly basis.

GST: Exceptions To The Rule-If you drive a taxi or a hire car, you must register for GST regardless of your turnover. If you operate a non-profit organisation, GST registration is not required until you have a turnover of $150,000 or more.

Getting The Right Business Advice- Before you start your business, it pays to get advice from a professional such as an accountant or financial advisor. However, this can sometimes be costly. In Australia, free or low cost assistance is available from: Business Enterprise Centres (found throughout the country). The Australian Taxation Office (ATO), Various State and Federal Departments eg. Regional Development, Ausindustry, Industry and Investment, Austrade, ACCC etc, Local business networks, Professional business networks such as your local Business Chamber, Industry Associations, Type of Business.

Don’t go into business until you have checked all these things out. Remember that business is a subject that needs to be studied, just like hairdressing, carpentry, accounting and web design. Do your due diligence. The author, John Kirk, is a Small Business Trainer, Mentor, Public Speaker and former Financial Advisor. John teaches Micro Business Management at Illawarra ITeC, one of the largest Training Organisations south of Sydney, Australia. In addition, he regularly conducts workshops and seminars focusing on cashflow, budgeting, marketing, networking and the business mindset for small business owners.