Business Foundations

Essential Tools & Resources for Starting Your Business in Australia

Starting a business comes with a long list of to-dos — registering, structuring, banking, insurance, and compliance. This section of the Business Hub brings together trusted Australian websites, checklists, and platforms to help you get the basics right from day one.

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Getting Started in Australia

Starting a business in Australia involves a few key setup steps — registering for the right structure, confirming your business name, and ensuring you’re legally compliant before trading.

Every business in Australia needs an ABN (Australian Business Number), and many will also need to register a business name if they trade under anything other than their own personal or company name.

Apply for an ABN:
Use the Australian Government’s Business Registration Service:
https://register.business.gov.au

Register a business name:
Managed by ASIC (Australian Securities and Investments Commission):
https://asic.gov.au/for-business/registering-a-business-name/

You can apply for your ABN and business name together through the Business Registration Service to save time.

If you’ve set up a company (Pty Ltd), your company name is automatically registered with ASIC. You don’t need to register a separate business name if you plan to trade under the full company name, exactly as registered, including “Pty Ltd.”

However, you’ll need to register a business name if you trade under any variation of that name — for example:

Omitting “Pty Ltd” (e.g., “ABCD Dental” instead of “ABCD Dental Pty Ltd”).

Using a shortened, stylised, or alternative version of the name.

Using a completely different trading name for branding purposes.

Example:
If your company is ABCD Dental Pty Ltd, you can trade under that name without registering again.
But if you trade as ABCD Dental or ABCD Family Dental, you must register that as a business name.

Official ASIC guidance:
https://asic.gov.au/for-business/registering-a-business-name/do-you-need-to-register-a-business-name/

Registering a business name does not give you exclusive ownership or protection of that name.
If you want legal protection for your brand name, logo, or slogan, you should also check trademark availability through IP Australia.

Search for existing trademarks:
https://search.ipaustralia.gov.au/trademarks/search/quick

Learn about trademarks:
https://www.ipaustralia.gov.au/trade-marks

If the business name is available on ASIC, it’s still smart to search IP Australia — someone else may already hold a trademark for that name or industry category.

✅ Apply for your ABN and (if needed) business name

✅ Search IP Australia to confirm trademark availability

✅ Register your trademark if your brand name is core to your identity

✅ Keep consistent details across ASIC, ATO, and your bank

Business Structure & Setup Tools

Choosing the right business structure is one of the most important early decisions you’ll make. It affects your tax, liability, reporting, and how you can grow later.
In Australia, most small businesses start as a sole trader, partnership, company, or trust — each with different setup steps and responsibilities.

Use these official Australian government resources to understand your options:

Business.gov.au – Compare structures:
https://business.gov.au/planning/business-structures-and-types

ATO – Choosing a business structure:
https://www.ato.gov.au/Business/Starting-your-own-business/Before-you-get-started/Choosing-your-business-structure/

💡 Tip: Review both guides side-by-side — Business.gov.au focuses on setup and operations, while the ATO explains how each structure is taxed.

If you’re unsure which structure best suits your goals or liability needs, consider professional support:

Accountant or business adviser – can help model tax outcomes before you commit.

Online legal services like:

Lawpath: https://lawpath.com.au/ – register companies, ABNs, or trusts online.

EasyCompanies: https://easycompanies.com.au/ – quick online company setup.

🔍 These platforms are ASIC-connected, meaning your registration details are lodged directly and legally recognised in Australia.

 

StructureCommon setup costOngoing obligationsBest for
Sole TraderFree (ABN only)Annual tax returnIndividuals starting small
Partnership~$40 (business name)Shared tax return, TFN2+ owners sharing work/income
Company (Pty Ltd)~$538 (ASIC fee)Annual ASIC review, separate tax returnBusinesses seeking liability protection
TrustLegal setup $500–$1,500Trustee admin, separate tax returnAsset protection or family businesses

💡 Figures current as of 2025 — always confirm with the ATO or ASIC for updated fees and requirements before registering.

💡 If you plan to scale, open bank accounts, or hire staff, setting up a company or trust early can save you restructuring costs later.

Australian Business Register (ABR):
https://abr.business.gov.au/ – confirm or look up ABNs.

ASIC Business Name Index:
https://asic.gov.au/ – verify registered entities.

Australian Small Business Advisory Services (ASBAS):
https://business.gov.au/asbas – government-funded support and mentoring.

  Review business structure types on Business.gov.au and ATO.

  Speak to an accountant or adviser before registering.

  Register your chosen structure via Lawpath or EasyCompanies.

  Keep records of your ABN, ASIC number, and tax registrations.

Banking & Insurance Resources

Choosing the right banking and insurance setup is one of the most important steps in establishing a healthcare or small business. In Australia, separating business and personal accounts, setting up proper payment systems, and having adequate insurance coverage are essential for compliance, protection, and smooth daily operations.

Every business should have a dedicated business transaction account for income and expenses. This keeps your bookkeeping clear and makes BAS reporting much easier.
Most Australian banks now offer business banking with direct Xero, MYOB, or QuickBooks integration, allowing you to automatically sync transactions.

Common options for general small business banking include:

Commonwealth Bank: https://www.commbank.com.au/business/accounts.html

ANZ Business Banking: https://www.anz.com.au/business/

Westpac Business Choice Account: https://www.westpac.com.au/business-banking/

NAB Business Everyday Account: https://www.nab.com.au/business/business-bank-accounts

BOQ Business Banking: https://www.boq.com.au/business

💡 Tip: Use a bank that connects directly with your accounting software — it’ll automate reconciliation and save you hours each quarter.

BankHealthcare DivisionKey Features
Commonwealth BankCBA Healthcare BankingRelationship managers, practice finance, HICAPS integration, equipment loans
ANZANZ Health BankingPractice & fit-out loans, equipment finance, specialist advice
WestpacWestpac Healthcare BankingMedico accounts, HICAPS & EFTPOS options, professional lending
NABNAB HealthIntegrated HICAPS terminals, same-day settlements, full merchant & banking packages
BOQ SpecialistBOQ SpecialistDedicated to healthcare professionals; start-up finance, asset loans, tailored banking

💡 These divisions often include access to a personal relationship manager, so you get one contact for lending, EFTPOS/HICAPS setup, and cash-flow planning.

HICAPS is the standard terminal for processing private health fund and Medicare Easyclaim payments.

It’s powered by NAB but can deposit into any Australian business bank account.

You do not have to bank with NAB to use HICAPS.

When using another bank for EFTPOS, you’ll usually have two terminals — one for HICAPS (claims and gap payments) and another for EFTPOS card payments (e.g., Tyro or your bank’s merchant).

How this works in practice:

Health fund claims and Medicare rebates are processed via HICAPS.

EFTPOS payments for products or non-claimable services go through your normal merchant terminal.

Both can settle into the same business bank account, even if the terminals are from different providers.

Official HICAPS info:
https://www.hicaps.com.au/

💡 Tip: If your practice processes both health claims and regular EFTPOS payments, check if your bank offers dual-terminal bundles to simplify fees and reporting.

Healthcare and professional businesses often use finance brokers to arrange loans rather than going directly to one bank.

What a business finance broker does:

Works with multiple banks to find the best lending terms for your situation.

Can arrange practice fitout loans, equipment finance, or vehicle leases.

Often faster than applying directly — especially for ABN holders and self-employed professionals.

Popular business brokers for Australian SMEs and healthcare include:

Maven Financial Group: https://mavenfinancial.com.au/

Finlease: https://www.finlease.com.au/

BOQ Specialist (acts as a direct lender and broker for medical finance).

💡 A broker doesn’t usually cost you extra — they’re paid a commission by the lender, similar to a home loan broker but always ask.

Insurance is essential for every small business — especially healthcare, where professional risk and patient interaction are involved.

Common business insurance types in Australia:

Public Liability Insurance – covers injury or property damage caused by your business.

Professional Indemnity Insurance – protects against claims for advice or treatment errors.

Business Contents & Equipment – covers theft, fire, or accidental damage.

Cyber Insurance – covers data breaches and digital risk.

Trusted Australian insurance providers:

BizCover: https://www.bizcover.com.au/ – quick comparison of multiple insurers.

AAMI Business Insurance: https://www.aami.com.au/business-insurance.html

NRMA Business Insurance: https://www.nrma.com.au/business-insurance

CGU Business Insurance: https://www.cgu.com.au/business

Insurance Brokers:
Just like finance brokers, insurance brokers compare policies and tailor coverage for your business type. They can often secure better terms than going direct.

Examples include:

Marsh Small Business Insurance: https://au.marsh.com/sme.html

Gallagher Insurance Brokers: https://www.ajg.com/au/

Austbrokers: https://austbrokers.com.au/

💡 Using an insurance broker can help you meet landlord or health fund coverage requirements without paying for unnecessary extras.

  Open a dedicated business bank account with accounting integration.

  Explore your bank’s Medico division if you’re in healthcare.

  Set up HICAPS for health fund claims and a separate EFTPOS terminal for other payments.

  Speak with a broker for practice or equipment lending.

  Compare business insurance policies or use a broker to tailor your cover.

Templates & Planning Tools

A well-organised business plan doesn’t need to be long — it just needs to clarify what you do, who you serve, and how you’ll stay profitable.
These free tools and templates make it easy for Australian small businesses and healthcare practices to plan operations, budgets, and growth.

Start with a clear, structured business plan.

Business.gov.au – Business Plan Template and Guide:
https://business.gov.au/planning/templates-and-tools/business-plan-template-and-guide
Official Australian Government template with pre-filled financial tables.

Canva Business Plan Templates:
https://www.canva.com/templates/search/business-plan/
Customisable, visual layouts perfect for presentations or investor packs.

SmartCompany Templates:
https://www.smartcompany.com.au
Downloadable templates for business plans, budgets, and checklists.

💡 For medical and dental practices, adapt your business plan to include patient volume, staffing, compliance, and equipment costs.

Good forecasting helps avoid cash-flow crunches and supports loan or grant applications.

ATO Small Business Benchmarks:
https://www.ato.gov.au/business/small-business-benchmarks/
Compare your business performance to industry averages.

Business.gov.au – Financial Templates:
https://business.gov.au/finance/accounting/financial-templates
Includes free cashflow, profit-and-loss, and balance-sheet spreadsheets.

Xero Calculator Hub:
https://www.xero.com/au/resources/tools/
Free online calculators for break-even analysis and GST estimates.

💡 Even a simple Google Sheet that tracks monthly income and expenses is better than none — consistency matters most.

Use online tools to plan pricing and break-even points:

ATO GST Calculator:
https://www.ato.gov.au/calculators-and-tools/gst-calculator/

Business Queensland – Costing Tool:
https://www.business.qld.gov.au/starting-business/planning/financial-management/costing-pricing

Finder – Loan Repayment Calculator:
https://www.finder.com.au/business-loan-calculator

💡 If you plan to apply for practice finance or equipment loans, keep digital copies of these forecasts — lenders often request them.

Beyond financials, a few standard templates make daily business easier:

Fair Work – Employment Contracts & Templates:
https://www.fairwork.gov.au/tools-and-resources/templates

Safe Work Australia – WHS Templates:
https://www.safeworkaustralia.gov.au/resources

Privacy Policy Generator (OAIC):
https://www.oaic.gov.au/privacy/privacy-for-organisations/small-business

💡 Using official templates ensures your business meets Australian employment and privacy standards from day one.

  Download and customise the Business.gov.au plan template.

  Create a 12-month cashflow forecast.

  Use calculators to set pricing and profit margins.

  Save standard employment and WHS templates.

  Keep all planning documents in a secure shared folder.

Licences, Permits & Compliance

Every business operating in Australia must meet certain legal and compliance obligations. These vary depending on your industry, state, and business structure.
This section brings together trusted tools and official government websites to help you check what applies to your business — including licences, employment law, workplace safety, and professional registration.

Different industries and locations require specific licences to operate.
Use the Australian Business Licence and Information Service (ABLIS) to find what you need:

ABLIS Licence Finder:
https://ablis.business.gov.au/
Search by business type and postcode to see all state, territory, and local council requirements.

💡 If you’re running a healthcare or dental practice, check your local council for facility approvals and waste management rules in addition to your professional registrations.

If you’re operating in the health sector, you may also need professional registration or practice accreditation.

AHPRA (Australian Health Practitioner Regulation Agency):
https://www.ahpra.gov.au/
Required for dentists, doctors, nurses, and many allied health professions.

Dental Board of Australia:
https://www.dentalboard.gov.au/

Medicare Provider & Prescriber Numbers:
https://www.servicesaustralia.gov.au/medicare-provider-number

💡 Keep your registration and practice location details current with AHPRA to remain eligible for Medicare billing.

If you employ staff or contractors, you must comply with Australian employment law and workplace health and safety standards.

Fair Work Ombudsman:
https://www.fairwork.gov.au/ – pay rates, leave entitlements, contracts, and awards.

Safe Work Australia:
https://www.safeworkaustralia.gov.au/ – national WHS laws, policies, and templates.

State & Territory WHS Regulators:

Queensland: WorkSafe QLD

New South Wales: SafeWork NSW

Victoria: WorkSafe VIC

South Australia: SafeWork SA

Western Australia: WorkSafe WA

💡 For healthcare businesses, also check infection control and sterilisation standards under state health regulations.

All Australian businesses that handle personal information must comply with the Privacy Act 1988.

Office of the Australian Information Commissioner (OAIC):
https://www.oaic.gov.au/privacy/privacy-for-organisations/small-business

💡 If you store patient or client records digitally, ensure your software provider meets Australian data hosting standards and has encryption in place.

  Search required licences with ABLIS.

  Confirm ABN and business name are active and registered.

  Register for GST or PAYG as required.

  Ensure AHPRA and Medicare provider details are current.

  Review Fair Work and Safe Work requirements.

  Confirm your privacy policy meets OAIC standards.

Disclaimer
The information and resources provided on this website, including links to third-party tools and government sites, are intended as general guidance only. While every effort is made to ensure accuracy, Milkcan Marketing does not guarantee that the information is current or complete.

Nothing on this site should be considered legal, financial, or professional advice. Users should obtain advice from qualified professionals tailored to their individual circumstances before acting on any information contained herein.

This website may include affiliate links, from which Milkcan Marketing may receive a small commission. These links do not influence our recommendations, and only trusted tools and services are included.

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