Planning to start a business in Australia? Starting any business can be intimidating and if you are not a resident of Australia then things can be a little challenging as well. Whether you reside in Australia or not, it doesn’t matter. Here is a brief guide on some profitable business ideas for 2021 that can be executed in Australia.
Before we talk about business ideas, let’s discuss how to start a business in Australia if you are a foreigner.
You need a visa:
Firstly, you need to apply for a Visa to start a business in Australia. Then you would need the required permission and license from the Government Department. If you are planning to start a vapor store australia then you would need to abide by the state laws and other strict guidelines as well. Another thing is, you can apply for two types of business visas known as the Business Innovation and Investment visas and Business Talent visas. The eligibility criteria of both visas are different.
Other things you need to take care of are:
- An idea: To start any business you need an idea and depending on your passion, skill, and investment capability you can make a choice.
- Skills required: Skills are important to start any business. You need to know what skills are required for a particular business and if you have it then it’s good else take some training if you keen to start that business.
- Clear objective: You should have a clear objective of why you are starting a particular business and what you want to achieve in the future from it.
- Drawbacks: Know your strengths and weaknesses and also do a SWOT analysis of the business so you know the strengths, weaknesses, threats, and opportunities of a particular business. This will help in making appropriate business plans and you can get better returns. It will also help you understand the drawbacks and prepare for things that are not planned.
- Business registration and ABN: To register a business in Australia you can choose out of four business structures that are sole trade partnerships, trusts, and companies. You will also need an ABN number known as the Australian Business Number which is of 11 digits and allotted uniquely to every business owner. This helps the government to identify your business. It is great for new entrepreneurs.
- Registration of trademark and business name: Business name and trademark need to be registered which will be connected to the ABN.
- Website creation: Book a domain name and create a website for your business. It will be like your business identity.
- Identify tax liability: Identify the tax liabilities and taxes will depend on the type of business you are looking to start. So, speak with a local tax consultant before you start the business.
A few profitable business ideas that can work in 2021
- Airport shuttle service: It is a profitable business but management intensive. You can establish business tie-ups with hotels, resorts, travel agencies, tour operators, etc.
- Catering business: If you are interested in cooking then the catering business is definitely interesting for you. It is profitable. You can take party orders, marriage orders and tie-up with event companies, take food contracts, etc. to earn more.
- Affiliate marketing: This is a profitable business and you can earn money on the internet. Understand what is affiliate marketing and what you can earn sitting at your home. All you need is a computer and a good network connection. Affiliate marketing can be done on many products like fashion accessories, travel packages Australia, vape juices Australia, home accessories, kitchen appliances, and a lot more.
- eBay selling: If you have some knowledge about the products and like to sell online then eBay selling is a wonderful option. From toys to vape juice you can think of selling anything and everything.
- Digital Marketing Agency in Australia: Digital marketing agency is about giving customized services to the clients. You need to market products and services using digital tactics. You need to know the industry trends and guidelines on selling online mediums and hence you can help online businesses dealing in kitchen appliances, e juice, travel, fashion, clothes, jewelry, etc. to get more business.
- Vape business: Vaping industry is trending and you need the best vape juice Australia from wholesalers to sell the e-liquid online. You can also think of opening a brick and mortar vape shop that keeps premium E liquid Australia and other vaping supplies to meet the needs of smokers and vapers. However, there are some state guidelines to follow when you market the best E Liquid Australia and you need a license to sell the vape products. The industry is lucrative, but there are strict guidelines on displaying the products in a vape shop and you need to follow an age verification process before you sell these products. Knowing the details can help you earn a great profit if you are keen to start this business.
- Interior designing: Those who love to decorate the house and are passionate about design, art, and home decoration would love this business idea. You can start this business from home at any age.
- Used books selling: Selling second-hand books is an interesting business idea that can help you earn a good profit. You can buy books at a cheaper rate and sell them at a higher rate.
Conclusion: These are some interesting business ideas for doing business in Australia. If you are a foreigner then some points discussed in the beginning can help you think of starting a business in Australia. Australia is a business-friendly country and these are some lucrative business ideas that you can ponder upon to reach your goals.
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