My first Questions

[L.T.]

Well I'm in the process of starting up an online business. I am able to build my own site, this certainly is saving on costs.

I have never been in business before so this is a little daunting for me but I have to give it a try as I have been unemployed for sometime and I have always wanted to give it a go. I have the energy and will to make it work.

In the last few weeks I have been searching the internet and this site gathering information. Understandably as I have been unemployed my cash flow is a little light but I have a supportive family that is willing to back me.

I have contacted my local BEC and I have gathered some information from them also and I will do a few courses in business set up that they are holding soon.

Today I will be registering my business name and applying for an ABN as a Sole Trader...

So just a couple questions for now...

Is it better to have your postal address separate to your private address as a Sole trader...Can I get a PO Box for a business before it is registered?

When building my website and it comes to items such as Privacy Policy, Terms and Conditions is it Ok to use the generic ones that you can get from generator sites on the internet or do you really need to sit down with a lawyer or someone else?? to work it out?

Thanks in Advance...

[ray_223]

The answer to both questions is "it depends".

"It depends what your online business is."

I think from memory some of the business registration forms need a physical address - not a postal address so getting a PO box (if you decide to get one) shouldn't be an issue when registering a business name.

Terms of Service and Privacy statements also depend on what your business does.

[mybusinesshelp]

Great to hear you are starting a business!! Welcome to the Soloists world.

Now regarding a postal address. For registration purposes you use your home address although for "marketing" purposes you should have a PO Box. This will keep your business seperate to your family life and will also give the impression you have been in business for a while and look more professional.

Regarding your website, with Privacy Policy and Terms and Conditions, it is very common for people to copy the standard although this can be risky depending on the industry you are in. If you deal with sensitive information like finance or law then I would recommend you have one created for you. These shouldn't cost too much.

I am not sure on your website experience based on the post although don't forget to optimise your website whilst you build it - to get the best results in search engine rankings.

Feel free to check out my blog which has free business tips.

Look forward to seeing you in business!

Thanks
Amanda Griscti
northridge creations
www.northridgecreations.com.au

Originally Posted by L.T.

Well I'm in the process of starting up an online business. I am able to build my own site, this certainly is saving on costs.

I have never been in business before so this is a little daunting for me but I have to give it a try as I have been unemployed for sometime and I have always wanted to give it a go. I have the energy and will to make it work.

In the last few weeks I have been searching the internet and this site gathering information. Understandably as I have been unemployed my cash flow is a little light but I have a supportive family that is willing to back me.

I have contacted my local BEC and I have gathered some information from them also and I will do a few courses in business set up that they are holding soon.

Today I will be registering my business name and applying for an ABN as a Sole Trader...

So just a couple questions for now...

Is it better to have your postal address separate to your private address as a Sole trader...Can I get a PO Box for a business before it is registered?

When building my website and it comes to items such as Privacy Policy, Terms and Conditions is it Ok to use the generic ones that you can get from generator sites on the internet or do you really need to sit down with a lawyer or someone else?? to work it out?

Thanks in Advance...

[L.T.]

Well I went to my local Office of fair trading to get my business name registered, some one told me they do it in half an hour and how wrong was that info. They said it took a day or two.

As I had nothing better to do I caught a train into the city and went to the appropriate office and had it done in two hours.

Raced home, applied for an ABN, raced to the Post office to organise the PO box and back to the bank to organise my business accounts. Its been a busy day but nothing really as I believe I will have more challenging days ahead.

I spent time at the Post Office, its small local branch, introduced myself to the People that run it and came away with great ideas on how it will be best to do my postage side of the business.

So that's where I'm at.

The BEC for my area told me not to register for GST at this stage so I didn't. I still have not been to see them only talked to them over the phone, however next week I will attend a couple introductory courses to small business they are running. I will then sit down and have a talk with them and arrange my first meeting with their recommended accountant for free.

So another question, if I am to buy wholesale in Australia, the wholesaler will charge me GST, as I am not GST registered there is no way I can get this back is there? Sorry maybe a dumb question but I am totally new to this...as I said earlier I want to learn as I go and start small and build...

I have also been importing goods from over seas for my ebay dealings..Edit( under the $1000 limit each time) Can I still do this as a sole trader and are there restrictions or advantages for me to do this in the future?

[wangcg3215]

Hi L.T.,

You will not be allowed to claim your GST back and charge your customers GST if you are not registered GST. You are able to register GST for your sole trader business.

I don't think there any problems for your business on ebay.

Stephen

[AquaGirl]

Originally Posted by L.T.

Well I went to my local Office of fair trading to get my business name registered, some one told me they do it in half an hour and how wrong was that info. They said it took a day or two.

As I had nothing better to do I caught a train into the city and went to the appropriate office and had it done in two hours.

Raced home, applied for an ABN, raced to the Post office to organise the PO box and back to the bank to organise my business accounts. Its been a busy day but nothing really as I believe I will have more challenging days ahead.

I spent time at the Post Office, its small local branch, introduced myself to the People that run it and came away with great ideas on how it will be best to do my postage side of the business.

So that's where I'm at.

The BEC for my area told me not to register for GST at this stage so I didn't. I still have not been to see them only talked to them over the phone, however next week I will attend a couple introductory courses to small business they are running. I will then sit down and have a talk with them and arrange my first meeting with their recommended accountant for free.

So another question, if I am to buy wholesale in Australia, the wholesaler will charge me GST, as I am not GST registered there is no way I can get this back is there? Sorry maybe a dumb question but I am totally new to this...as I said earlier I want to learn as I go and start small and build...

I have also been importing goods from over seas for my ebay dealings..Edit( under the $1000 limit each time) Can I still do this as a sole trader and are there restrictions or advantages for me to do this in the future?

Hey LT

congrats girl, you seem well on your way to starting out.

how long did it take u to get the abn #?

with the P.O box, do they have large enough ones for parcels? lol

im thinking of going with CBA for the transactions... which bank are u with?

regards
Linda

[vstacy]

Originally Posted by AquaGirl

Hey LT

congrats girl, you seem well on your way to starting out.

how long did it take u to get the abn #?

with the P.O box, do they have large enough ones for parcels? lol

im thinking of going with CBA for the transactions... which bank are u with?

regards
Linda

Linda - It really doesn't take that long at all... just go to the ATO website and do it online.

In re the PO Box, I have had a small one for years now and if you have larger parcels they usually put a little "note" (different colours for different parcels) that you use to "authorise" collection ...

I personally am with Suncorp ... tho' it is totally up to you who you choose for you bank. Because I deal with cash and having to make deposits, Suncorp has been the only local branch that has the quickest service (mainly due to less people needing to make deposits).

[Servcorp]

Hi L.T.,

I would be more than happy to assist you with choosing a 'virtual' office address in one of our locations which you can use as an address for parcels, secretary for answering your phone etc. for your business.
The other option of a PO Box may be cheaper for you.

In regard to privacy policy and T&C you can modify one you have seen online, however I would recommend you to take it to your lawyer to check through it. It could save you a lot more money in the long run in case someone does decide to sue due to privacy violation or you suing them due to abuse of T&C....

Dave

[AquaGirl]

Originally Posted by vstacy

Linda - It really doesn't take that long at all... just go to the ATO website and do it online.

In re the PO Box, I have had a small one for years now and if you have larger parcels they usually put a little "note" (different colours for different parcels) that you use to "authorise" collection ...

I personally am with Suncorp ... tho' it is totally up to you who you choose for you bank. Because I deal with cash and having to make deposits, Suncorp has been the only local branch that has the quickest service (mainly due to less people needing to make deposits).

Great info, thanks for that

I was looking through the abr website in regards to the abn and it doesnt state anywhere that i need an abn for importing. im not going to register for gst at this point.
any ideas about this?
my business name will be registered so will that be enough detail for the suppliers?

if i do need an abn, i'll do the form online as u suggested. any idea how much it will cost? hopefully not as much as registering the name hehe

cheers
Linda

[vstacy]

http://www.ato.gov.au/businesses/con...tent/57752.htm

ABN registration is not mandatory. A business can trade without an ABN, but the businesses it deals with are required to withhold (and remit to the Tax Office) an amount equal to 46.5% of the amount of the payment if an ABN is not quoted.

ABN is free from the ATO. The only "cost" is the PAYG Tax I pay every quarter (however in your first year you only have to pay your "end of year" tax). Even you earn NIL income, if you have an ABN you will need to fill out your BAS forms every quarter after your first year.

As far as I'm aware, once you have an ABN it doesn't expire.....


If you plan on doing business, with other businesses (anyone with an ABN or ACN), then you will NEED an ABN