Starting & Buying a Business
Starting a New Business
Before going into business there are many things you must consider so you can tick off all the necessary criteria and give your business the best chance of succeeding. If you have an idea for a business within the Colac Otway Shire, the Council’s business team recommends you take a look at the Victorian Government’s website which outlines all you need to know about setting up a business
As a way of getting started, we’ve outlined a few of the key things you will need to consider when beginning a business:
- Research your business idea
It might sound simple, but you need to know whether there’s a need for your business and whether you’ll have customers that want what you’re offering. By researching the market you can answer these questions.
- Write your business and marketing plans
Developing a business plan and a marketing plan are crucial to establishing a vision for the business and helping clarify the direction you want to take it.
- Work out your costs and finances
Your business plan should help identify set-up and ongoing costs associated with running a business. This is a key step in determining whether you can make your business work. Find out more about the common costs involved in starting a business.
- Other important details, like registrations and business name licensing
To operate a business, you need to look into the registrations & permits you will require, depending on the nature of your business. You also need to consider other requirements, such as obtaining an ABN and registering a business name.
Planning schemes online - source Department of Transport, Planning & Local Infrastructure (ABLIS)
New Business Assistance
Contact Colac Otway Shire Economic Development department on (03) 52329400 for assistance with any business queries whether you are starting a new business, changing location or growing a current business.