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  • #991148
    themixedtape
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    Hi There members,

    AS a hobby I have been starting websites and creating apps and finding ways to monetize them. I have had numerous failures but a few successes. I am aiming to turn this hobby into a side business but do not know how to go about it.

    Do you start as a sole trader or as a pty ltd? In either of these scenarios I would like to draw a small salary but ultimately reinvest profits into developing or acquiring new websites or apps.

    I am new to all of this so any tips would be great.
    Thank you for your time

    #1180243
    Tony Manto
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    I would just start out as a sole trader. So you need to register a ABN. It will say your name T/A business name. You don’t have to do a BAS or claim GST until you earn over $75,000. You will have to declare your income at tax time.

    #1180244
    My Guy
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    Starting out in a business through Apps would probably be accepting payments through external sources like

    – App Store
    – Android Market

    Correct me if I am wrong!

    Customers don’t really care if you are a pty ltd or a sole trader, your accountant also probably does care either.

    Most businesses that are services & product based usually are better as a company straight from the bat for numerous reasons which I won’t go into detail about.

    BUT!

    I would be concerned about your liability issues with being a sole trader and having a whole web of international competitors that you could be treading on….

    easycompanies.com.au allow you to create a company within 24 hours.

    It costs roughly $480

    You then have to apply for a TFN & ABN for that company which can be done online also or through your accountant for not much more than a consult fee…

    I would seek other peoples advice on this forum or else where (legals) regarding the legal issues you may come across.



    I have a mate that I worked with a few years ago, he created an app online.

    with in 5 weeks it hit Australia’s most downloaded app with over 100,000 downloads in 36 days.

    3 weeks later another app appeared, similar name but with very low level detail.

    He ultimately found out about this other app that was an exact replica of his and got it shut down within 72 hours. He did not decide to take further action.

    #1180245
    3ntr3pr3n3ur
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    Hi TheMixedTape (if that is your real name ;))….,

    The app development and web design skill set is highly sought after, especially if it is supported by an entrepreneurial mind-set.

    I see an opportunity for these skills to be provided as a service to start-ups/entrepreneurs looking for a rapid turnaround in creating an online presence (either web sites or apps).

    You can monetise this by offering your services for equity share of the concept…

    Regards,

    Alan

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