Guest THETAYLORS

Setting up a business in adelaide or suburbs

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    Guest THETAYLORS

    Hi there,

    Just want a bit of advice really, we are thinking of starting the process of moving to Australia - Adelaide specifically and I was wondering about setting up a business out there or buying an existing one.

    I currently run a business in the Uk and have done for 6 years but I have a real fancy for a coffee shop/take away which is nothing like what I do now.

    My wife is a hairdresser and we would be coming in via her skills - permanant residency beats the temporary visa offered on a business visa although the process takes longer so as such I will be the main bread winner, as we have young kids

    Has anyone on here gone down this road of owning a business and what would you recomend.

     

    Thanks in anticipation of your responses

     

    John

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    Hi there,

    Just want a bit of advice really, we are thinking of starting the process of moving to Australia - Adelaide specifically and I was wondering about setting up a business out there or buying an existing one.

    I currently run a business in the Uk and have done for 6 years but I have a real fancy for a coffee shop/take away which is nothing like what I do now.

    My wife is a hairdresser and we would be coming in via her skills - permanant residency beats the temporary visa offered on a business visa although the process takes longer so as such I will be the main bread winner, as we have young kids

    Has anyone on here gone down this road of owning a business and what would you recomend.

     

    Thanks in anticipation of your responses

     

    John

     

    Hi John

     

    Link to Australian Government website re start up and existing businesses below. It seems like there is some good stuff on there to help you.

     

    business.gov.au

     

    I've also come across a great book in my local library "Starting a Business in Australia" by Deborah Penrith published by Vacation Work CrimsonPublishing.co.uk / Imprint / Vacation Work.

     

    Good luck.

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    Guest Ledges

    Its just like in the UK really. If you fancy a tea shop it would do well so long as you get a good location which is the main challenge as there aren't town centres as much as in the UK..its mostly malls. Seaside locations often don't have anything at all (cafe wise)...which seems odd..but they are seasonal and not as busy as the Uk ..so that's probably why.

    The govt have just said they're looking at cutting migration again...so watch you don't get caught out.

    Also check the property prices they are not as cheap as you may think.

    Good luck x

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    Guest THETAYLORS

    Hi

    Thanks for that, do you own a business in adelaide yourselves?

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    Guest PhilC

    We set up a business shortly after we arrived - it's the equivalent to a UK Ltd company and was pretty straightforward to get up and running with the help of an accountant, cost about $1000 all in. The company works in a similar way to the UK one, although there does seem to be less red tape to sort out.

     

    You can set stuff up yourself but it seemed like quite a lot of hassle for the sake of saving a few hundred bucks.

     

    Phil

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    Guest Guest75

    As everyone has said it is very similar to the UK.

    At least you have business experience which will stand you in good stead.

     

    If buying a business they have to provide you with a Form 2, this lists turnover/profits and so on.

     

    It can be cheaper to buy out rather than set up - the business just may have the wrong person owning it.

     

    Do a lot of research and don't throw your hard earned cash into some pretty looking thing by the sea - be cut throat with your decisions - it's going to pay your wages:idea:

     

    The GST is a a doddle - if you have to register.

     

     

    For accounting software - if keeping things small scale - use Cashflow Manager /Invoice Manager. Dead easy to use!

     

    The simplest small business accounting software on the planet | Cashflow Manager

     

     

    Get yourself a good accountant!!

     

    Might I strongly recommend Doug Booth, he has been very good with us and a lot of forum members:notworthy:

     

    Southern Taxation Services - Public Accountants - Registered Tax Agents

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