Seek advice on other sources of support e.g.Seek financial support and benefit from direct referral to Government agencies.Identify ways of financing your business venture.Identify all start-up and running costs associated with the business.Step 4: What are your Investment Requirements? We give you access to information and specialist expertise. Can your business idea benefit from new technologies? e.g.How many staff will you need to employ?.Identify your basic equipment requirements and costs.Have you considered the best location for the business?.Step 3: What are Your Business Requirements? Market research will establish the real potential for your product or service. Research is also effective in assessing demand for a new product or service.
How to start a business how to#
It will also help you to identify your competitors and how to compete effectively.
From the outset market research is essential in helping you to identify your target market and customers. Use our experience to realise your business idea. What is the benefit to them and how much will they pay?. Think about who will buy your product or service. Our Start Your Own Business programme provides you with an opportunity to assess the potential of your business idea. Our Start Your Own Business programme introduces you to thinking about running your business and testing out your business ideas and plans along with like-minded people. If you're thinking of starting a business, our Start Your Own Business Programme will help you, from developing and researching your ideas, learning basic business start-up skills and expanding your potential with marketing and financial planning advice. Local Enterprise Office - Start Your Own Business Programme Inland Revenue has community compliance officers and Kaitakawaenga Māori who help small businesses with tax advice.A 10-Step Guide to Starting Your Own Business Insurance cover for contractors Advice and support for your businessĪ number of government agencies provide help for new businesses.Ĭontact a business adviser for business start up and development help It’s common for contractors to have to take out insurance - for example, liability insurance - before they sign a contract. You’ll normally be paid more than a salaried worker, but you’ll need to pay your own tax, and you do not get holiday pay or sick leave. You can also be a self-employed contractor. You’ll need to keep accurate records, budget for upcoming tax payments, and account for your business expenses and deductions for your business and your staff.īusiness tax obligations Going contracting What you pay depends on the number of staff you have, their income, the industry you’re in and your claims history. Use the Compliance Matters tool to find, understand and manage the reporting your business must do to government.Ĭompliance matters - figure out your compliance requirements ACC levies If you hire staff you need to know your duties as an employer, and implement good management practices, including health and safety.Įmployment agreement builder Compliance requirements Investigate the market to make sure you’re getting a fair deal.īuying a business or franchise Running a business Staff and human resources It can be cheaper to buy an existing business than to set one up from scratch. The most common structures are a company, sole trader or partnership.īefore you start a company Buying a business You’ll also need to find a formal structure for your business. You need to think about your branding and protecting your business idea.Ĭheck if your business name, trademark, web domain and social media usernames and domain name are available. How to write a business plan Protecting your business name and ideas How much money do you need to set up and run your business? You’ll need to think about the practical side of your business too, such as how you’ll finance it and run it. Guide to starting a business Planning your business Questions to ask yourself before you start ‘Unite against COVID-19’ has information for businesses and employees.īusiness and money - Unite against COVID-19 Setting up a new businessīefore you go into business, it’s helpful to do some research first. 
COVID-19 - financial support and how to work safely
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