Starting a Business in Australia: Complete Guide

Choosing a Business Structure

Sole trader: Simplest structure. You and the business are the same legal entity. Easy to set up, minimal paperwork. Personal liability for all debts. Best for: freelancers, consultants, small service businesses. Company (Pty Ltd): Separate legal entity. Limited liability protects personal assets. More complex setup and compliance (annual ASIC fees $307, annual financial statements). Tax rate 25% for small business. Best for: businesses with employees, higher revenue, or significant risk.

Registration Steps

Choose your business structure (sole trader, partnership, company, trust)
Register your business name with ASIC ($39/year or $92/3 years)
Apply for an ABN at abr.gov.au (free, usually instant)
Register for GST if turnover will exceed $75,000
Get required licences and permits (check ablis.business.gov.au)
Open a business bank account
Set up accounting software (Xero recommended)
Get appropriate insurance (public liability minimum)

Popular Businesses for Chinese Australians

Restaurants and takeaways, bubble tea shops, tutoring centres, import/export, daigou, beauty salons, massage therapy, accounting practices, migration agencies, real estate, and e-commerce. Each has specific licensing requirements. Food businesses need council food premises registration and food safety certification. Personal services may need specific qualifications.

First Year Survival

Keep personal and business finances completely separate. Track every expense from day one. Set aside 25-30% of revenue for tax. Don't over-invest in fitout before proving demand. Join industry associations and local business networks. Access free government support: business.gov.au offers mentoring, grants, and planning tools. Many Chinese business associations offer networking and support in Mandarin.