How to Set Up a New Business in Victoria: A Step-by-Step Checklist
Starting a business is exciting — right up until you open a browser, type 'how to start a business', and close the tab twenty searches later more confused than when you began. I see this all the time. The reassuring truth is that the actual setup is far more of
a checklist, not a mystery. a checklist than a mystery.
Here's the order I walk new business owners through, with steps you can action this week.
General information to help you get organised — not legal, tax or financial advice. Government fees are indexed every July, so confirm current amounts on the official sites, or check with your accountant.
1. Get clear on what you're building (before you register anything)
Before the admin, get two things on paper: what you sell, and who you sell it to. It sounds obvious, but the businesses that struggle later are usually the ones that skipped this.
A simple one-page plan is enough to start — you can build on it as you go. Brand Assembled can help you with with simple to use templates that will help you get clear about what you are offering.
2. Choose your business structure
Most people starting out in Victoria begin as a sole trader — it's the simplest and cheapest way to trade. A company (Pty Ltd) gives you a separate legal entity and liability protection, but it costs more to set up (ASIC's company registration fee is around $636 as at 2026, plus an ongoing annual review fee) and comes with more admin and reporting. There's no single right answer; it depends on your risk, income and plans. This is the one step where I'd genuinely suggest a quick chat with an accountant or registered tax agent before you decide.
3. Apply for your ABN (it's free)
Your Australian Business Number comes from the Australian Business Register at abr.gov.au, and it is free. Never pay a third party who 'offers' to get one for you. You'll need your ABN before you can register a business name or invoice clients. Straightforward applications are often issued quickly, though the ATO can take longer if it needs to verify your details.
4. Register your business name (if you need one)
If you'll trade under anything other than your own legal name, you register that business name. Two things people miss: a registered business name is not a trademark (that's a separate registration with IP Australia), and it doesn't automatically secure the matching domain.
Check both before you fall in love with a name.
5. Register for GST — but only if you need to
You must register for GST once your turnover reaches $75,000 a year, or if you expect it to. Below that threshold it's optional.
6. Lock in your digital foundations
● Domain
● Website
● Google Business Profile
● Google Analytics
7. Set up the boring-but-important admin
A separate business bank account, a simple way to track income and expenses (a spreadsheet is fine to begin with, moving to something like Xero as you grow), and one place to keep your receipts. Future-you will be grateful.
You don't have to do it in one go
None of these steps are hard on their own — it's knowing the order and requirements that creates the overwhelm. If you'd like the whole process laid out with templates and guides so you can work through it at your own pace, that's exactly what my Foundation Toolkit is built for. Or if you'd rather have it set up for you, that's the Assemble Package.
Either way, you don't have to figure it out alone.
Head over to www.brandassembled.com.au/foundationschecklist to download your free checklist and give your business a health check.
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