About Angus Jones

Angus started his first small business in 1989 and has since gone on to have a successful career in marketing. He realised although there were many websites for small business none was addressing the question of how to. Angus has a passion to articulate benefits that add value to customers/readers.

Small run food packaging

ePac Flexible Packaging (ePac), the industry leader in digital printing for small run food packaging, has launched in Australia, with its first manufacturing facility opening in Melbourne in the fourth quarter of 2021. 

Built entirely on breakthrough digital printing technology, ePac serves local brands of all sizes, with a particular focus on small and medium-sized businesses producing snacks, confections, coffee, natural and organic foods, pet food, and nutritional supplements.

ePac provides a five to 15 business day lead time, focuses on small and medium run-length orders, and enables brands to order to demand and avoid costly inventory and obsolescence.  

ePac’s first production facility will open eight kilometres from the Melbourne CBD, at the new Newlands Road food manufacturing hub, located in the heart of Coburg’s thriving industrial district. 

Jack Knott, ePac Flexible Packaging CEO, said, “We’re very excited to be expanding ePac’s growing international footprint into Australia. We are focused on bringing the same great ePac experience to our customers, helping small and medium-sized businesses grow and achieve big brand presence.”

Jason Brown, ePac Flexible Packaging Managing Director, Australia, said, “ePac helps local brands grow into major contributors within the community, with a unique offering for brands to rapidly go to market with great packaging. Opening our first facility at Newlands Road is an exciting milestone for ePac Australia, and we’ve already had a great response from the community.” 

ePac was established in the US in 2016 to provide locally-based consumer packaged goods companies with the ability to compete with large brands with great packaging, give back to the communities it serves, and contribute to creating a more sustainable, circular economy. Since the opening of the company’s first manufacturing facility in 2016, ePac’s mission has been clear – to help small brands obtain big brand presence and grow.

About ePac flexible small run food packaging 

ePac is the first company created entirely on breakthrough digital printing technology from Hewlett Packard, the Indigo 20000. This technology platform enables the company to provide fast time to market, economical short and medium run length jobs, customization, and the ability to order to demand to avoid costly inventory and obsolescence. By harnessing the true power of digital printing, ePacConnect enables brands of all sizes to take advantage of the growing trends in connected packaging. ePac’s digital platform is inherently eco-friendly while offering several sustainable film options. 

Website: epacflexibles.com.au

D-Link AC1200 and AC750 secure Mesh Wi-Fi Range Extenders

As the quality, reliability and security of Wi-Fi becomes increasingly important, D-Link A/NZ has launched their new DAP-1610 AC1200 Mesh Wi-Fi Range Extender and DAP-1530 AC750 Mesh Wi-Fi Range Extender, both encompassing the latest WPA3™ wireless encryption.

The DAP-1610 is a portable plug-in wireless extender that lets you extend an existing wireless network, giving you powerful Wi-Fi throughout your home and eliminating Wi-Fi dead zones.

With high-speed, dual-band 802.11ac wireless speeds of up to 1200Mbps – that’s 300Mbps on the 2.4GHz band and 900Mbps on the 5GHz band – the DAP-1610 ensures a fast and stable Wi-Fi experience for all of your connected devices.

The DAP-1610’s dual-band technology also helps reduce interference from any nearby wireless transmitters and provides backwards compatibility with older connected devices that run on previous Wi-Fi standards. What’s more, if you wish, you can use its Gigabit Ethernet port and your home’s existing wired Ethernet cabling to extend wireless coverage without having to worry about signal strength.

The DAP-1610 also provides you with flexible Mesh choices for your home network when you pair it with a compatible D-Link Wi-Fi 5 Mesh Router to create a seamless whole-home Mesh Network built on industry-standard Mesh technology. The DAP-1610 seamlessly picks up the same Wi-Fi name as your existing network and allows you to enjoy a Mesh connection throughout your entire home

Meanwhile, Mesh Smart Roaming allows your devices to intelligently switch to a stronger Wi-Fi signal as you move around the house. You can also pair with other Routers or Extenders which support the 802.11k/v standard to enjoy Mesh Smart Roaming throughout your home at all times.

Setup of the DAP-1610 is simple, either via the single-touch WPS button to join the Extender to the existing network, or alternatively, you can set up and manage the DAP-1610 just as easily with the free D-Link Wi-Fi app directly from your smartphone or tablet.

The DAP-1610 also has a useful LED signal strength indicator that allows you to identify where the strongest and weakest Wi-Fi signal spots are around your home, helping you find the best possible location to place the extender for optimal network performance.

Like its bigger sibling, the DAP-1530 AC750 Mesh Wi-Fi Range Extender is a plug-in Wi-Fi repeater that lets you extend an existing wireless network. You can place it anywhere in your home to increase the range of your wireless network. It may be tiny, but it is powerful, supporting wireless AC speeds of up to 750Mbps, despite fitting neatly in the palm of your hand.

Like the DAP-1610, the DAP-1530 enjoys dual-band 802.11ac technology, an LED Signal Strength Indicator and a one-touch configuration making it both easy to set up and easy to use. The DAP-1530 will also automatically configure itself and even includes a built-in setup wizard should you want finer control of either wired or wireless settings.

You also still get flexible Mesh choices for your home network and the ability to pair with other Routers or Extenders which support the 802.11k/v standard to enjoy Mesh Smart Roaming throughout your home when you need it.

Pricing D-Link DAP-1610 and DAP-1530

The DAP-1610 and the DAP-1530 are available now from www.dlink.com.au (RRP AUD$129.95 and RRP AUD$99.95), and from all authorised D-Link Partners and Retailers.

To understand more read Small Business Answers guide on Wi-Fi Extenders.

Zip BNPL anywhere that accepts Tap & Go Visa

Leading global Buy Now, Pay Later (BNPL) company, Zip Co Limited (ASX: Z1P), has today announced the official launch of Zip Business ‘Tap to pay’, a new feature enabling small business owners to buy now, pay later anywhere that accepts Visa and shows the Contactless Symbol at checkout. 

Zip Business Trade Plus already provides SMBs with access to a simple, interest-free and flexible line of credit of up to $150,000, which can be used to pay any bill or invoice, or can be spent at its network of more than 35,000 merchants including Tradelink, Holcim Australia and Paramount Liquor. In an extension of the ‘Tap to pay’ consumer feature launched in 2020, Zip Business ‘Tap to pay’ significantly expands the number of places Trade Plus customers can use their credit, for an easier and smarter way to pay. 

In line with social distancing mandates and the rise of contactless services, use of digital wallets has skyrocketed. In the 12 months from March 2020 to 2021, the number of monthly digital wallet transactions increased by 90 per cent, with the number of transactions rising from 36 million to 68 million. Over the same period, the total dollar value of digital wallet transactions more than doubled, with the value of monthly transactions rising to $2.1 billion, up from $1 billion.

While the global pandemic saw a huge uptake of business-to-consumer (B2C) pay-by-installment services, there continues to be a substantial gap in the business-to-business (B2B) BNPL market. Zip Business ‘Tap to pay’ addresses and solves this crucial customer need for Australian SMBs. 

With over two million small businesses in Australia, the universal pain point is cash flow and access to capital – this has only been compounded by the pandemic. Some of the industries hit particularly hard include on-premise retail, hospitality and construction. The Australian Bureau of Statistics Business Conditions and Sentiments Report revealed that 25 per cent of Accommodation and Food Services and 23 per cent of Retail trade businesses are finding it difficult to meet their financial commitments. 

‘Tap to pay’ harnesses the latest digital wallet technology for contactless payments, so Zip Business customers can pay for goods and services beyond the Zip merchant network, enabling both SMBs to pay easier and a world of new merchants to accept Zip payments.    

Geof Alexander, General Manager of Zip Business, said: “Small businesses are the lifeblood of the Australian economy with entrepreneurs taking incredible risks to create a business around what they are passionate about. Now facing the ongoing challenges of COVID-19, entrepreneurs are fighting hard and putting everything into finding a way forward – and at the moment, they need support. 

“At Zip Business, we’re building the pieces to help Australian entrepreneurs to manage cash flow – supporting them with fair, transparent and flexible payments options to give them longer to pay and make their lives easier.  

“Adding another layer of functionality to our Zip Business Trade Plus product, ‘Tap to pay’ brings award winning experiences to small businesses, helping to boost cash flow and fund growth, whatever the world decides to throw at them. In the first week since launch, we’ve seen Zip Business customers use ‘Tap to pay’ 4.5 times on average. 

“We know what it’s like to grow from being the little guy and we want to give our customers the tools to fulfil their business dreams.”

In order to be eligible for a Zip Business Trade Plus account, businesses must have an active ABN or ACN, have been in business for six months and generate at least $5,000 in sales per month. Small business owners can apply for a Zip Business Trade Plus account here. Zip’s lending criteria applies.

To understand more read the Small Business Answers guide to BNPL.

EPOS IMPACT D Series headset

EPOS, the premium enterprise and gaming audio and video brand, has announced the launch of the IMPACT D Series – a lightweight range of comfortable headsets designed to provide peerless audio performance and powerful wireless reach. This headset Series is optimised for Unified Communication and has a streamlined, functional design suitable for all-day use.  

Perfect call clarity for 100% focus

Even in modern times, with customers increasingly embracing many different digital interactions, automation, and self-service, the human voice remains the most trusted form of communication. The IMPACT D Series has been developed to meet the requirements of professionals in energetic office and contact centre environments where clear audio, comfort, and ease of mobility are an absolute must.
 
Making full use of EPOS’s unique in-house technologies, such as EPOS Voice technology™, which focuses on the human voice to produce a rich, natural sound experience, the IMPACT D Series helps business professionals communicate effectively throughout their working day by eliminating the frustrations and distractions caused by bad audio.  
 
Our cutting-edge solution augments the conversation experience, reducing the prominence of unnecessary ambient noise and allowing for 100% customer focus, whatever the situation.  

A secure solution 

In today’s digital world, companies are more exposed than ever to hostile online threats. Wireless networks offer great potential for exploitation, so security is paramount when choosing a wireless headset solution. The IMPACT D Series keeps data safe and secure with protected pairing– meaning company security is never an issue.

Streamlined functional design

Keep desks tidy with a streamlined design ideal for hotdesking when agents need plug and play functionality at every workstation. With one base station that serves both monaural and binaural wearing styles, a superior docking experience and single connectivity to PC or phone, the IMPACT D Series makes high-quality wireless DECT headsets accessible to all.

Wireless freedom

No one wants to be chained to their desk, surrounded by tangled cables. The IMPACT D Series has a powerful wireless range so that users have the freedom to walk and talk and be mobile without compromising on perfect call clarity.
 
With simple, single connectivity to PC, hybrid users can connect their headset wirelessly and enjoy the mobility of a powerful wireless DECT headset throughout their working day.

Theis Mørk, Vice President, Global Product Management at EPOS comments: ‘‘The IMPACT D Series uses cutting edge technology to give professionals in energetic work environments true wireless freedom. With enhanced security features, powerful wireless reach, superior audio and natural listening experience, the IMPACT D Series is the premier solution when talk matters.’’
 
Learn more about the IMPACT D Series here.
 

Product availability: 

IMPACT D Series: August 31, 2021
IMPACT D Series MSRP: $399 – $499

Read Small Business Answers Guide to headsets for business to understand what is right for you.

Synology On-Site Replacement by Computergate

Synology® the NAS/SAN computer storage provider is launching Synology On-Site Replacement Service in Australia. The service is powered by Computergate, a renowned Australian-based service provider, as well as Synology long-time official post-sale service partner.

The launch of the service aligns with Synology commitment to provide first-class service to pair with its corporate and enterprise-level solutions. The On-Site service pack is fulfilling the increasing demand from Synology users for a hassle-free replacement process. After purchasing and completing the registration, users could contact Computergate directly when experiencing downtime. An experienced technician would arrive in time together with the replacement unit to install the chassis.

“We’re excited to take this step forward into the Australian market,” said Stephen Antonius, Sales Manager of Synology Inc. “As a company, we take our users’ demand seriously. Our products and services are always tuned to keep up with the latest market demand. And today we announce this service which we believe will help our Australian business users to have a better Synology experience,” he added.

Synology On-Site Replacement Availability

The service pack is now available for purchase for all newer corporate and enterprise-level NAS and SAN[1], covering the metro area of Australia major cities: Brisbane, Sydney, Melbourne, Adelaide, and Perth. Please purchase the service pack directly through local resellers if needed.

About Computergate

Computergate is Australia leading hardware service provider with years of experience dealing with Synology products. Synology has collaborated with Computergate in the past to deliver Synology Replacement Service (SRS) and is happy to continue this strong partnership to deliver a better experience for Synology users.

For more information on storage backup, solutions see Small Business Answers Guide.

Why your CRM is database disappointing

When the CRM salesperson told you how this database would improve customer relations and boost sales, you had no reason to doubt the claims. Is your database disappointing?
Now that you have implemented it and see the monthly costs, are you sure that the investment is the best use to drive sales?
Unfortunately, a CRM does not solve the internal challenges around resource constraints, skillset, and building a customer database if you do not know who your customers are.
Many organisations see a CRM as a means to overcome resource constraints. Surely this latest generation tool will save person-hours, thus freeing up resources. Yes, it will, but only after you invest many marketing and sales hours into making it work. Unfortunately, this bus does not drive itself. Thus, resources must be dedicated to running the database to reap its benefits. Modern database solutions have exceptional power but are only as good as the customer data entered by sales and marketing and the time required to make the best use of that data. Once the information is available, it requires the right marketing programs to resonate with customers and the sales follow-up to close deals.
If I asked 5 people to produce a spreadsheet of results with the same data, I would get 5 very different looking sheets with varying degrees of expertise in the spreadsheet. Any new software application needs experts. Thus, it is important to have skilled resources to take advantage of the CRM and have the right skill set, education, and execution.
A business that sells direct knows its customers. Still, if you sell through a retailer, channel partner, or distributor, chances are you don’t know who your customers are. Your channel partners own the customer data and are reluctant to give up that information. Thus, to build out a database, you need to find other ways to find your customers.

Is your CRM database disappointing? If you don’t have the resource, the skills or the customer list, a new solution has been developed by the Australian company Tonic called RegisterToday. This low-cost solution solves the businesses problem of finding their customers and building out their first-party database. Customers can be consumers, businesses or trade salespeople. It can then help with the right content to resonate with customers needs and wants to drive the right sales outcomes. The solution also helps deliver the communication to the right customer versus all customers.
If you would like to know more, please get in touch with Angus@tonic.com.au

Read Small Business Answers Guide to understand more about CRM’s.

least cost routing for tap&go debit transactions

eftpos welcomes the announcement from Treasurer Josh Frydenberg this morning stating that the Morrison Government is committed to lowering costs for small businesses through the implementation of default least-cost routing in the debit transactions card market. 

The Government wants the RBA to mandate “least cost” routing for tap-and-go debit transactions. So business merchants can avoid typically higher fees charged by international schemes and default to the usually cheaper domestic eftpos system.

eftpos CEO Stephen Benton said the Treasurer and the Federal Government should be commended for this decision which demonstrates a strong commitment to competition and lower debit transaction costs for struggling small businesses which are doing it tough during the COVID pandemic.

“Mandating least-cost routing as a default for merchants on mobiles and online as well as for the physical use of cards will be a major boost for local small businesses, jobs and communities as well as a key driver of the digital economy,” Mr Benton said.  

“It is essential that we guarantee our nation’s businesses access to competition and low-cost payments in a new, post-COVID world dominated by debit cards, mobile apps and eCommerce.

“The gradual adoption of Least Cost Routing at physical stores has already resulted in merchant fees on debit card transactions being reduced by hundreds of millions of dollars a year.

“However, as we move boldly into the new digital economy, this type of debit card competition is not currently available on platforms like mobile and eCommerce.

“The urgency of effective regulation in this area in a post-COVID economy is amplified by just how fast Australians have shifted to online and digital transactions in recent months.”

Read more on accepting credit cards in Small Business Answers guide.

D-Link Long Range Wi-Fi 5 Wireless Bridge

D-Link has launched its DAP-3712, a Long-Range Wi-Fi 5 Wireless Bridge capable of enabling Point-to-Point or Point-to-Multipoint connections up to 20km apart. The DAP-3712 is an invaluable solution for providing reliable, long-distance connectivity between multiple sites such as office branches, construction sites, or transportation hubs in rural and busy city areas. Using proven Wi-Fi 5 technology with speeds of up to 867Mbps and it’s easy to install design. The DAP-3712 Long Range Wireless Bridge from D-Link’s Business Solutions range offers a compelling connectivity solution versus expensive Fibre-based offerings.

The DAP-3712 features state-of-the-art hardware, including a high-gain 23 dBi directional antenna helping to provide strong and stable wireless connectivity. The DAP-3712 also employs Power over Ethernet (PoE) technology, meaning that the unit can be powered via an Ethernet cable up to 100m away from a PoE-enabled Switch or Power Injector. This is extremely useful as power sockets can be difficult to come by in ceiling cavities or outdoor deployment scenarios.

The DAP-3712 Wireless Bridge is designed to perform across long ranges and is designed to perform long-term. Braving the elements with an IP66-rated housing, providing both water and dust resistance, along with 8kV surge protection to protect the unit itself from lightning strikes and power surges.

Helping installation, the DAP-3712 Long Range Wireless Bridge has built-in Signal Strength and Alignment LED. This allows you easily align the antenna with another over long distances, saving you specialised installation service costs. Of course, D-Link Business Solutions are all backed with a Limited Lifetime Warranty and excellent support services.


Key features of the DAP-3712 Long Range Wireless Bridge

• Point-to-Point or Point-to-Multipoint connection

• Up to 20km distance and 867Mbps speeds

• 802.11ac wireless technology on 5GHz band

• TDMA technology for better performance

• High power 27 dBm design

• 23 dBi directional antenna

• IP66 Rated Weather Resistant outdoor design

• 8 kV Surge protection

• Supports standard IEEE 802.3at PoE

Long range Wi-Fi DAP-3712 availability and pricing

The new DAP-3712 Long Range Wi-Fi 5 Wireless Bridge is available now from www.dlink.com.au RRP AU$399.95.

For hints on improving W-iFi see Small Business Answers guide to improving Wi-Fi.

Deliverect streamlines online food ordering

Deliverect, the European scale-up, is helping restaurants streamline orders from third-party food delivery and online ordering services. Deliverect has its arrival in Australia with the appointment of Jeremy Van Dille as the company’s General Manager for Australia and New Zealand, who will be based in Sydney.

Deliverect, which provides a software platform that connects restaurant POS and kitchens with delivery services, already has 1,500 Australian food service locations as customers. That includes Outback Steakhouse, Red Rooster, Hungry Jacks, Fishbowl and Pretzel restaurants, and food delivery partners such as Uber Eats, Doordash, Menulog and Deliveroo. With the addition of a dedicated Australian team that plans to grow to 50 during 2022, the company plans to substantially expand its footprint across the local restaurant industry.

“Moving in and out of COVID lockdowns has fundamentally changed the way people eat and drink and restaurants have had to pivot as demand for food delivery services reaches new heights,” said incoming Deliverect ANZ General Manager, Jeremy Van Dille.

“There are currently about 65,000 restaurant locations doing food delivery across the country. Most have adapted during the pandemic to cater to existing patrons and reach new clientele. These restaurants have come to us because the complexities of dealing with numerous delivery partners complicate managing online sales channels. For family-owned restaurants, large chains and FMCG brands, the priority is to make sure patrons receive the best quality food in the quickest amount of time. They are eager to ensure an operational flow that minimises hiccups that affect customer experience. We are giving them a simple way to manage and grow online orders with ease. Our challenge is to ramp up Deliverect’s Australian operation quickly to meet this demand.”

A subscription-based SaaS solution, Deliverect integrates directly with restaurants’ POS systems, automating the inbound online order flow through a single point. This eliminates the need for staff to monitor multiple devices and manually re-enter orders into their existing system, dramatically reducing staff workload and the probability of errors. When a delivery or takeout order comes in from an Uber Eats, Doordash, Menulog or Deliveroo, Deliverect intercepts the order, processes it, then transfers it straight to the kitchen. Globally, Deliverect processes 1.5 million orders each week, supporting 100+ integrations with major POS and delivery partners, with hundreds of others in the pipeline.

Outback Steakhouse has locations across NSW and Queensland and has been using Deliverect for more than a year. According to Christopher Noble, the restaurant chain’s Group Chief Marketing Officer, “Our partnership with Deliverect has been a game-changer in streamlining our delivery processes and has enabled us to spend more time focusing on our guests’ experience. In an ever-changing world, Deliverect has been key in helping us stay at the cutting edge of technology.” 

“Building on our success in Europe, this year’s expansion into new markets like Australia, the United Arab Emirates and Mexico marks a major milestone for Deliverect. Since our first days, we’ve worked hard to create a strong ecosystem of foodservice customers, POS and delivery partners, and we look forward to building new relationships in Australia,” said Deliverect CEO Zhong Xu.

“Australia has a very sophisticated food industry, particularly when we look at the uptake of QR code menus and ordering in restaurants. We expect the convenience and efficiency of online food ordering mean consumer demand will continue to flourish, and our goal is to be the partner who helps the foodservice industry continue to connect, innovate and evolve through technology.”

For more information read Small Business Answers guide to POS Systems.

First steps to starting a business

You have a great idea for starting a business. Maybe you want to start small and grow, or perhaps you’ll stay small and be content. You could have plans to open a boutique agency, have a brilliant idea for a start-up or an app, or be a tradie working for themselves who contracts out for sites across Australia.

But then reality dawns: how do I even go about starting a business? Who do I speak to? What is an “entity type”, and which one suits what I’m trying to do? How do I comply with tax law and legislation?

All these questions can overwhelm even the brightest minds with the best idea. Rest assured, if you’re lost at the first question of what type of entity you want to be, you aren’t alone: no one is expected to know taxation laws and business terms from scratch.

That’s for the experts to know and walk you through. So, let’s take you through that first step: What entity type is your business?

A Company: A company is a separate legal entity that provides limited liability to its shareholders – the shareholders being the owners of the company, whether it’s you and your business partner or multitudes of partners.

If you plan to grow your business and scale with employees, this is the ideal entity for you. 

As well as being required to abide by the rules of the Australian Tax Office (ATO), companies are also required to abide by legislation administered by the Australian Securities and Investment Commission (ASIC).

A Sole trader: You’re a contractor for a worksite, one not employed as a full-time worker for the building company? Do you work for yourself and in an environment with a low risk of litigation?

A “sole trader” might be for you. A sole trader is a business that is being run under an individual’s name. It is the cheapest and easiest structure to establish. It is often favoured by small contractors, tradies, home-based businesses, and online businesses.

A Trust: While most commonly used as an investment vehicle, a trust can also be used as a trading vehicle. When structured correctly, a trust can offer limited liability for the trustees of the trust. While a trust has excellent income splitting capability, it is not a suitable vehicle for growing and scaling a business.

In short: a trust is unlikely to be your first business entity. But talk to an accountant when establishing your business. There are benefits to having a Trust within your overall structure that they can advise you on.

Partnership: A partnership is an association of two or more entities who carry on business in common. A partnership is a relatively low cost to establish; however, like a sole trader, the partners are jointly liable for the debts and actions of each of the other partners. Partnerships are commonly used in professional service businesses.

So, you’ve determined your entity type: now what?

Once you have selected your entity type, you will need to ensure you comply with all relevant regulations and understand what registrations apply to your business. While some registrations are mandatory for all businesses, others will be dependent on your operations and circumstances.

Let’s look at the most common registrations.

Tax File Number (TFN): a TFN is an entity’s personal identification number issued by the ATO. If you’re already an Australian tax resident, you likely have a personal TFN which can be used if you’re a sole trader – but any other entity must have its own TFN.

Once you register for a TFN, you are required to lodge an annual income tax return. The standard tax year in Australia runs from 01 July to 30 June.

Australian Business Number (ABN): An ABN is a business identifier unique to a business entity. It simplifies interaction with customers, other businesses, and the government.

Registration is compulsory if your turnover is greater than $75,000. While it is not mandatory to have an ABN if your turnover is less than $75,000, it can be impractical not to, given business to business payment withholding rules (businesses must withhold 47% of the sale from a business with no ABN) and banking requirements. Additionally, you need to consider the public perception of not holding an ABN (customers may question your credibility).

Both an ABN and a TFN are managed by and applied for through the Australian Business Register (ABR).

Business name registration:  You are required to register a business name if you conduct business under a name other than your own name or in the case of a company or trust, the name of that entity.

And then…

Taxes. Yep, it’s time to get advice.

It is highly recommended that an entity source external assistance on tax guidance and compliance. Tax rates are constantly changing, particularly around State and Federal Budgets when votes are on the line. A lower tax rate can mean the difference between winning and losing an election.

Furthermore, amid this pandemic, we’ve seen countless changes to various tax rates, such as an increase in the tax-free instant asset write-off threshold for equipment purchases. We’ve also seen the rapid availability of Job Keeper, Job Seeker and now disaster payments, all of which need third party verification of a business’ accounts.

Accountant fees, whether it’s a big bill or a stable, fixed monthly fee favoured by small businesses and sole traders, can be claimed as part of a business’ tax claim, so the spend, in the end, is worth it. An accountant can also help you at step one in advising the right entity type for your business and where and how to apply for ABNs, TFNs and more.

Starting a business is daunting for everyone. But a good idea for a business isn’t worth letting slip because of a fear of failure or a lack of knowledge of the first steps. Start the ball rolling, and before you know it, you have turned an idea into an entity.

Julian Hutabarat, CPA, is the General Manager, Australia for Beany, an online-first accounting company dedicated to proactively serving and advising small to medium businesses and sole traders across the country.  

You can also read Small Business Answers guide to starting a business.