Many people with disability set up their own small business and find it rewarding. You may enjoy being your own boss, prefer working alone or with a small number of employees and/or working in a setting that suits any disability-specific needs, such as working from home or at different hours of the day.
Before starting your own business there are a number of resources available that can help.
- You can take a short course in starting a small business at TAFE.
- There are also many resources on the web. Search under ‘starting your own business’ or ‘working from home’.
Starting a small business and making it a success does mean a lot of responsibility, hard work, focus and commitment. It’s best to start out small to see how you feel about being your own boss, and find out if your idea is working for you.
Where do I Start - Market research
You will need to begin by thinking about the kind of business you want to start, and whether it will be viable.
Ask yourself:
- who will be your competitors, what do they offer and what can you offer that is different or better
- can I compete in this market or is it already cornered
- is there a market for my product or service, what is this market and how do I reach them
- what does my target market think of my product or service idea
- how much will the market pay
- how can I best promote my products or services to this target market?
Business plan
Once you decide on a viable business option, you must develop a business plan. This document should cover everything you need to start and run your business, including answers to the questions above.
It may also include an executive summary, market analysis, management plan, advertising/marketing plan and financial plan. Do some research on writing a business plan; there are many free resources online.
Business registrations
To operate a business in Australia you need to register a business name and obtain an Australian Business Number (ABN). You must also understand your taxation and legal obligations. Making an appointment with an accountant can ensure you address these issues early.
What else will I need to do
- Open a bank account for your business.
- Set up a phone account and website so clients can contact you.
- Set up your office/workplace. If you are starting a home-based business find out about council approval, zoning regulations and insurance.
Where can I get help
The New Enterprise Incentive Scheme (NEIS) is designed to help unemployed people to become self-employed by setting up their own small business. The Scheme provides:
- small business skills training (including help to develop a business plan)
- an allowance for up to 52 weeks
- on-going advice and support during the first year of your business.