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nikmaricic
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Hi Jordan,

Good on you for wanting to go out and giving it a go yourself!

Completely agree with the above posts regarding having your bookkeeping sorted right from the start. I couldn’t recommend Xero more highly as well. It will basically make life a breeze when it comes to BAS and EOFY time, provided you are using it correctly.

Insurances are also extremely important in your industry, and you should also consider whether [moving forward], the sole trader business structure is the best way to go. You might want to look into setting up a company as there a few personal liability safeguards there, and it could potentially have tax benefits too. But then again, all this depends on your forecast income and ‘the potential something could go wrong” of the carpentry jobs you do. None-the-less having a chat to your accountant will definitely be beneficial.

Also, I definitely agree regarding the business coach/advisor or the first few months. Being in business for yourself, looking for new clients/jobs can take a toll on you. But with the right support on our team, you will be much better equipped to handle this.

All the best!