A
small business is a great way to make money while following your
passion in life. The potential for business ideas is unlimited.
Ask yourself:
- What are you good at?
- What
do you enjoy doing?
- What
skills do you have?
The
answers to these questions can help you come up with an idea for
a small business.
Some
examples:
- Do
you like and have a flair for cooking? Yes. How about a catering
business?
- Do
you enjoy and have a flair for decorating? Yes. How about an interior
decorating business?
- Do
you like drawing and manipulating images? Yes. How about a graphic
design business?
- Do
you have a green thumb and enjoy working in the garden? Yes. How
about a landscape design or gardening and lawn mowing business?
What
about these for small business ideas:
- Picture Framing?
- Events Management?
- Tutoring?
- Retail (eg. homewares store)?
- Writing and Editing?
- Website Production?
What's
your idea?
When
you come up with an idea for a small business you need to consider
if it is viable. Will people out there want to buy your product
or service? Do you have a market? You have to research your market
and carefully define your idea.
It
is very important that you seek professional advice and guidance
before you attempt to set up a small business.
The
next step is your business plan. A plan is vital for starting up
your own business.
Small
Business courses at TAFE NSW cover the development of business
plans and can give you a good start to creating a successful business.
There
is heaps of free information and support services to help you define
your business idea and then turn that idea into a business plan.
Your
local library will have many books on starting businesses and planning.
Business
Enterprise Centres in NSW offer free advice on starting
and expanding businesses and can help you develop a business plan.
The
NSW Department of State and Regional Development has a Small
Business Website which can help you with understanding the
business start-up cycle and planning .
The
NSW Department of
Fair Trading can help you determine your business structure
and is the agency responsible for the registration of businesses
in NSW.
When
you have finished the plan - ACT ON IT.
With
the right idea, a good plan and your enthusiasm and hard work, you
can turn your passions into profit.
As
your business grows, so will your profits. The money you can earn
will depend on the type of small business you're thinking of starting.
Once you have put together a business plan, you'll have a realistic
idea of how much you can earn.
It
takes a really strong commitment and a variety of well learnt skills
to start and successfully run a small business.
If
you want to learn about business while you are doing your HSC, think
about enrolling in a part time school-based Vocational Education and
Training (VET) traineeship:
Certificate
II in Business (Office Administration).
TAFE
NSW has a range of business courses to help you develop the skills
you need. Check the TAFE
NSW online handbook for course details.
Other
public and private education and training providers such as community
colleges offer small business courses as well.
The
Federal Government has incentive schemes to help you start a small
business.
The
New
Enterprise Incentive Scheme (NEIS) is a small business management
course managed by Centrelink. You can get a Newstart Allowance for
up to one year while you set up your business.
The
Self Employment Development (SED) also provides Government
assistance while setting up your business.
The
Australian
Tax Office offers Biz Start Seminars which introduce the all
the taxes which apply to small businesses.
More
Networking and Support for Women in Business
