| [ Total Views: 1927 | Total Replies: 38 | Thread Id: 103915 ] |
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 tweety
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| posted on October 31st, 2013 at 06:25 PM |
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Business name: if you incorporate your own name- no business name required. eg
Bill Smith mechanical services = no bus name required
Smithy's mechanical Servcies = bus name registration required
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 matberry
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Go hard or go home
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| posted on October 31st, 2013 at 07:04 PM |
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Good point again Tweety. As for doing a course, I did a free ATO 1 day seminar some years ago and found it very informative, was free and straight
from the horses mouth so to speak.
Matt Berry Motorsports...air cooled advice, repairs and mods Ph 0408 704 662
OFF-ROAD,CIRCUIT,DRAG,STREET,ENDURANCE
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tweety
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| posted on October 31st, 2013 at 10:27 PM |
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Thanks Matberry.
There is an obvious key to any business.
In Yea Victoria in 1992 after I left Telstra I told my wife I was going to start up a lawn mowing round in my town of 1100 people. We decided to do a
survey.
Of the hundreds of houses there not one resident said they would definately employ my services. Some said "maybe".
Upon my returning home and telling my then wife, she said "well that's the end of that then". "No way" was my reply. I figured that with no one
doing lawns in the town or handyman services there had to be a market- if I was positive enough.
I printed flyers to letterbox them and talked more to residents. Soon I got odd jobs, cleaning gutters and fixing leaking taps. It subsidised the dole
at the time. It fed my kids.
Soon I had enough work to purchase a new ride on mower and whipper snipper. Placed a sign on the back of my trailer.
Two weeks before xmas a cop booked me for not having my trailer registered. In Victoria if running a business you have to register your trailer.
Clealry with the sign on the back I was guilty. And some wonder why they are hated. A battler trying to feed his small family. A warning would have
sufficed.
Anyway the point is - positivity, never say die. Eventually in 1999 I started another business. I decided to do better work than my competitors, be
reliable and quicker turn around, return your calls, etc. I did this and was never out of work for 13 years while my opposition struggled.
My business- private investigations. I retired 3 weeks ago, forced to, on medical grounds. At 57 I still have some fire in my belly left but sadly not
my health. I'd love to lecture in positive thinking. Its amazing what you can achieve when you get your small business by the throat and run with it.
Never give up, chip away at building it up and have short, medium and long range plans. Such plans to include an annual interstate trip with your
wife....to check out the materials they sell in Surfers Paradise..... All expenses tax deductable of course....Otherwise Tony Abbot gets it. You have to maximise your deductions and appreciate the benefits of running
a small business but not overload it. Get a new car by all means if you are making the money but be careful not to go crazy with the ability to sign
the dotted line. Its all balance.
Good luck. Signing out this time lol
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1916baja
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| posted on October 31st, 2013 at 10:58 PM |
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It's all been very informative tweety! Thanks mate.
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mactaylor
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| posted on November 1st, 2013 at 04:19 PM |
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If you can stay as a "hobby" for as long as you can that is a great lurk, However you can not claim any expenses from the business, All good when
you have other income but no good when its just your misses paying the bills. Remember the ATO can Attribute earnings to You if they deem that is a
REAL business. It is best if you register an ABN then wait till you build your buisiness above the 75G GST limit then register for gst. Keep all
receipts, Get the TTE news letter, Claim what you can, CHARGE HEAPS!
EVERLAST CONCRETE TANKS
1800 552 123
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ian.mezz
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I never said, I could write or spell
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| posted on November 1st, 2013 at 07:48 PM |
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silly people always ask is there a better price for cash, then pull out the cash card 
just collect GST from day dot, because you are going to be running a successful business .
your suppose to sit down and work out all the cost to get your shop open and just work out the money that you need to bring in each week, without
making any profit just to pay the bills to open the doors on your shop .
eg some shed/shops rent start at $ 20000 A YEAR so you need $384 a week just for the rent .
eg
rent, water, electric, insurance, licences, stock, etc
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vlad01
Compulsive Aussie Vee Dubber
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| posted on November 3rd, 2013 at 10:06 PM |
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another thing worth looking at is the NEIS program. Its basically a business course that also give you a sort of dole equivalent but you are allowed
to make money with your new business and they don't take or reduce the pay so it makes it a lot easier to get started. If you have an existing hobby
business you are still eligible for the program and pay.
I did this, although my business didn't go well as the financial crisis hit just when I started and all of the sudden customer stopped spending lol.
71 notchback,
Past owner of, 70 NB, 73 SB and 72 FB TLE |
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hrastovica
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| posted on November 5th, 2013 at 10:34 PM |
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| Quote: | Originally
posted by 1916baja
I agree, advertising is something I need to do... How will people know I'm here if I don't right? I'll get onto an accountant and get things
rolling.
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Let me know if you need a website and implementing an online marketing strategy. Check out My website Or call me on 0431 167 294
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hrastovica
Officially Full-On Dubber
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| posted on November 5th, 2013 at 10:35 PM |
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| Quote: | Originally
posted by vlad01
another thing worth looking at is the NEIS program. Its basically a business course that also give you a sort of dole equivalent but you are allowed
to make money with your new business and they don't take or reduce the pay so it makes it a lot easier to get started. If you have an existing hobby
business you are still eligible for the program and pay.
I did this, although my business didn't go well as the financial crisis hit just when I started and all of the sudden customer stopped spending lol.
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NEIS wad great to help set up a business plan, financial plan and marketing strategy. You complete a cert IV in small business
management (I am a neis business and still here after 5 years)
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