What to consider before starting a business

Whether your business will succeed or fail depends on your abilities, resources, initiative and capacity for work as well as the business and economic climate.

Going into business is not easy and you will be taking on major responsibilities. Are you willing and able to accept these responsibilities and the necessary level of commitment to hard work? Your chances will be better if you prepare yourself for and understand the challenges and problems you will encounter as a business owner and manager.

The Department of Business and Employment has designed a step-by-step guide to help you if you are considering setting up a business in the Northern Territory. The guide will start you thinking about the sort of things you need to do and know.

In addition, the Business Licence Information Service (BLIS) can provide you with details of all licences you may require to operate your business in the Northern Territory. This includes Commonwealth and Local Government requirements. The service is provided free of charge. For more information, visit the Business Licence Information Service (BLIS) website.

Business Information Services

Free Business Information Kits, which are packed with information on starting a business, useful contacts, tips on business planning, timetables for free business workshops and much more, can be obtained from your nearest Territory Business Centre.

The Northern Territory Department of Business and Employment also sponsors free business workshops and seminars that cover a wide range of topics such as starting a business, introduction to bookkeeping and taxation and marketing. In addition, a variety of seminars are held throughout the year, many of which specifically target people who are thinking about starting a new business.

The Department of Business and Employment offers a free and confidential business information service to new and existing businesses. Business owners and those wishing to get started in business can access a wide range of information by talking to the department's Client Managers. Information can be provided on many areas of business including business planning, insurance, licences and permits, marketing, business structures, intellectual property, taxation, sourcing finance and much more.

Information and assistance for those thinking about starting a new business can also be obtained by contacting the Business Enterprise Centre (BEC). BEC is a non-profit private sector organisation and is part of a national network dedicated to the support of small business. BEC Darwin Region fosters the establishment, growth and development of successful businesses in the Northern Territory through business-based sponsors and networks, thus enhancing the economic development of the Northern Territory. BEC Darwin Region provides an excellent referral service to new and newly started businesses wishing to seek expert advice. BEC can be contacted by phone on 1300 396 550 and email at enquiries@becnt.com.au.

For other sources of assistance and advice, including government agencies and industry associations, refer to the Northern Territory Business Contacts directory, which lists useful business contacts to assist you with your business queries.

If you would like a Business Information Kit or further information you can:

• visit or contact a Territory Business Centre near you.