To help determine if you are indeed ready to embark on your journey we recommend the following.
- Develop a diverse skill set through business events and training to complement your industry knowledge. Check out the Events and training finder to discover relevant opportunities.
- Seek guidance from experienced entrepreneurs or professional advisors you are already connected with or use the Expertise and Advice finder.
- Connect with your local industry association or chamber of commerce for additional support and resources.
- Assess industry performance using the ATO’s small business benchmarks available on their website.
- Estimate initial business expenses using a template for calculating start-up costs.
- Conduct thorough financial research to determine the costs of starting and maintaining your business, as well as the possibility of securing grants or loans. Check out what’s available on grantfinder.
- Recognise the significant time and lifestyle adjustments that come with owning a business, including long working hours and potential changes to personal schedules.