- This topic is empty.
October 22, 2020 at 2:04 am #1000436KanchanMember
- Total posts: 1
Hi Wonderful ppl,
I am thinking to start a small business of very low investment of importing indian food items from Kolkata to Melbourne as I lost my job. I don’t have any idea of the business setting p factors like legal/governance stuff, paper stuff, price list of items, business setup requirements and many more. no Idea of where to start. I checked with few stores and their requirements.apart from this no idea. I thought initially to go to any accountant but they are charging $350 for initial consultation and I am not sure if they could help to provide me all the information or not. Can someone provide/guide me some ideas of from where to start and what are the steps I need to consider and what are the risks. If someone give any insight then very grateful to you.
KanchanOctober 22, 2020 at 3:41 am #1224355robdashParticipant
- Total posts: 87
Hi Kanchan, among all the other issues in business, you need to be aware of the requirements around importing food.these are issues you must be responsible for. Your accountant normally cannot help, and your freight broker cannot take responsibility for your food quality, packaging, labelling, etc. The department of agriculture has lots of information. You can start at https://www.agriculture.gov.au/import/before/how-to-importOctober 22, 2020 at 8:25 pm #1224356bb1Participant
- Total posts: 4,472
Sounds like you are starting from a zero level of knowledge, so on top of what [USER=117305]@robdash[/USER] suggested about department of ag, look at the victorian small business website.
But I disagree with [USER=117305]@robdash[/USER] opinion.[Mod Edit to accurately reflect an opinion] . about seeing an accountant, before you import you need to get your business structures right, an understanding on pricing, GST, etc, etc. If you cant afford $350 for an accountant, you can’t afford to start a business, and should not.October 30, 2020 at 5:44 am #1224357teresa.snakebiteMember
- Total posts: 2
Perhaps you could look into the New Enterprise Incentive Scheme: https://www.employment.gov.au/self-employment-new-business-assistance-neis
You will be helped to set up a business plan, register your business, etc. The plan is available through a number of job providers, etc, and provide mentors to new business owners.
My only advice is to make sure you have a mentor that understands your business, and is happy to give meaningful assistance.
Your local council should also have business incentives and assistance, so checking out their web site may be a good step.
All the best!October 30, 2020 at 7:42 am #1224358ProfessorMember
- Total posts: 17
I would suggest that you work for a business that sells Indian products for at least one year and combine that with University courses (Strategy, Finance, Marketing, etc), plus start reading the books on Small Business. I do NOT recommend that you jump in the deep end without sufficient knowledge.November 24, 2020 at 1:08 am #1224359
- You must be logged in to reply to this topic.