Creating your own internet business is a terrific strategy to go independent and gain financial stability. The internet world is unquestionably the business platform of the future, and you can do it from the convenience of your own home. Australia’s online shopping increased dramatically during the worldwide pandemic and has continued to rise subsequently. According to Australia Post, the national average of online transactions increased by 16.6% in 2021 compared to the previous year. This upward trend is predicted to continue for a very long time.
If you want a piece of the projected US$45.5 billion in online retail sales in 2022, now is most definitely the time to get started. However, operating an internet business is more difficult than making an Amazon purchase. Before you can begin, you have to clear a lot of hurdles. Do not worry; we have you covered with our guide to the essential issues you must resolve to begin.
1. Set Your Online Business’s Objectives
If you are unsure of the type of business you want to launch, there is no use in doing so. Obviously! What sort of business do you wish to launch, then? Will you be making any sales? offering a service? Will it be a part-time or full-time job? Do you have any business partners with you, or are you going it alone?
You could just want to continue doing what you already do for a living and run it your way rather than working for someone else. Another possibility is that you have a pastime or passion that you may use to supplement your income. Your choice here will have an impact on how your firm is set up. The characteristics and regulations for setting up as a Sole Trader vs a Company or Partnership will be very different.
Talk to an accountant and a lawyer once you’ve decided what it is you want to achieve in order to work out the details and obtain advice on how to get started while abiding by the law. Once you’ve done that, you can figure out the specifics of what you want to do.
2. Publish Your Company
Yes, we have now arrived at the dismal legal aspect of launching a business in Australia. It’s important to set everything up properly from the beginning since there are some rather strict standards you must follow. Failing to adhere to the letter of the law on these matters may result in serious consequences down the road.
First and foremost, every Australian company has to get an ABN (ABN). Your company is recognized as a legitimate corporation by this 11-digit number, which enables you to lawfully conduct business in Australia. Applying online using the Australian Government website is free.
After you have obtained your ABN, you will be able to make purchases for your company, set up your taxes, register a domain name for your website, and send invoices to your customers. It will save you time and effort if you register your business name at the same time as you apply for an Australian Business Number (ABN).
3. Establish Your Website
It’s time to launch your website once everything is settled with the taxman and the authorities. Before you begin creating your website, there are four important things to keep in mind.
Select a website design platform that enables you to perform all the tasks your company will require. This might entail having an online store, a mechanism to schedule appointments, or a specific area that is only accessible to members. If you want to keep things simple, you may choose a more user-friendly content management system (CMS), albeit it does have certain restrictions on how much you can do. For novices or anyone with a business that merely needs a minimal upkeep website, simple website builders are a terrific option.
As an alternative, you may look at something like WordPress hosting if you feel like getting your hands dirty in the digital world to create something more customized. This route will take more DIY and upkeep, but it also gives you the chance to investigate more sophisticated choices, such as e-commerce. Consider what your company and website must provide, then look at a few possibilities to see which is ideal for you.
To prevent any misunderstandings about who you are and if website visitors have reached the correct website, you should choose a domain name that closely resembles your business name. You don’t want any unpleasant misinterpretations like the ones Old Man’s Haven encountered because of the URL’s absence of punctuation! To offer yourself the best chance of establishing a good online presence, try to abide by a few best practice guidelines.
One another important factor is to choose either the .com or .com.au domain. It’s so simple how to decide to use which option. If you are going to work and expand your business through Australia, choosing .com.au is a very better choice. In case your business is thought to be worldwide going for .com will be best for you.
Improving your website
Here we come with the question of how to improve your website to attract more customers. Digital marketing strategies are set and meant to help you in this process. The most reliable and valid approach to use is Search Engine Optimization, which is basically called SEO. SEO helps you to make each page and part of your website perfect and it tries to upper your ranking on SERP (Search Engine Results Page). Now, you need to clarify another telling factor, are you going to offer services/products to all of Australia or just a city and its neighborhood?
If you go with the ladder option, undoubtedly local SEO is the best choice for you. Local SEO focuses on a specific region to attract new clients for you. For a Brisbane-based business using local SEO Sydney services will be practical.
4. Organizing Payments
You’re launching a business in Australia to make money. Therefore, you’ll need a method for clients to pay you. The form of payment you select will primarily rely on the product you’re selling. Customers will need a checkout system to utilize digital wallets like Google Pay or Apple Wallet, PayPal, or POLi, or to input their credit card information. However, paying for services or subscriptions will need setting up monthly or yearly direct debits.
Think about your product and the payment method that offers the greatest amount of convenience for customers. It is necessary to make it easy for as many of them as possible to pay, because if they cannot, they will not pay. And despite the fact that more people are using other methods of payment, credit and debit cards are still used for the majority of purchases made online (around 50%).
If you follow these four essential pieces of beginning guidance, you will be able to establish your own internet business and boost the likelihood of its being successful. The process of launching and maintaining a business is not so simple that everyone can do it, nor is it so difficult that no one can do it. We sincerely hope that we were able to offer you enough information to get you started on the path to success in business.