Starting a business is exciting, but skipping key steps can lead to problems down the road. Here are 10 essential steps no startup should ignore—and how Easy Accountancy helps at each stage.
- Validate Your Business Idea
Skipping market research is a common mistake. Ensure there’s demand for your product or service before investing too much.
How we help: We provide financial feasibility assessments and business structure advice to help you start strong.
- Choose the Right Business Structure
Sole trader, partnership, company, or trust? The right choice impacts tax, liability, and growth potential.
How we help: We assess your goals and guide you on the best structure for tax efficiency and asset protection.
- Register Your Business
ABN, GST, business name, and trademarks—getting the legal side right avoids costly issues later.
How we help: We handle business registrations, GST setup, and compliance so you can focus on growing.
- Set Up Your Finances Properly
A separate business bank account and an efficient accounting system are must-haves from day one.
How we help: We help you choose accounting software like Xero and set up efficient bookkeeping practices.
- Understand Your Tax Obligations
Failing to plan for tax liabilities can cripple cash flow.
How we help: We offer tax planning, BAS lodgments, and ATO compliance support to keep you ahead.
- Create a Business Plan
A roadmap with clear goals, budgets, and cash flow forecasts ensures long-term success.
How we help: We assist in drafting business plans with realistic financial projections.
- Build a Strong Cash Flow Strategy
Poor cash flow is a top reason startups fail.
How we help: We offer budgeting advice and cash flow forecasting to keep your business financially healthy.
- Hire Smartly & Meet Employer Obligations
If hiring staff, you must comply with payroll, superannuation, and Fair Work regulations.
How we help: We set up payroll systems and guide you on employer obligations.
- Develop a Pricing Strategy
Undervaluing your products or services can be detrimental to growth.
How we help: We help you analyse costs and market trends to set profitable prices.
- Plan for Growth & Scaling
Startups that plan for growth survive longer.
How we help: We provide ongoing advisory services, financial reviews, and growth strategies tailored to your business.
Starting a business? Let Easy Accountancy guide you through every step. Contact us today!
