Register Sole Trader

sole-trader

Number of Business Owners: 1

Advantages:

  • Simplest business structure
  • Inexpensive & easy to set up
  • Control of the business rests with you

Disadvantages:

  • No personal asset protection
  • Your liability is not limited in any way
  • You pay for everything
  • Some larger businesses prefer not to deal with sole traders

Quick tip! The information on this page isn’t exhaustive and we can’t advise you about the best structure for your needs. Best to chat to your business adviser, lawyer or accountant. If you need a recommendation, we can give you one.

Starting a business and flying solo? A sole trader is someone who runs their own business as an individual, without any formal structure like a company or trust. You are personally responsible for managing your business including its profits and losses.

Startup World can manage all of the paperwork and registrations needed to get you up and running fast.

For more detailed information, click on the links below:

Australian Business Number (ABN) 

GST registration – if your annual turnover is $75,000 or more

PAYG withholding – if you intend to employ people to work in your business

$132 (incl GST) to register for any or all ABN/GST/PAYG

Business name registration – if you want to trade under anything other than your own name

$101 (incl GST + ASIC fee of $35) for 1 year  or  $148 (incl GST + ASIC fee of $82) for 3 years 

It takes about 10 minutes to submit the necessary information to kick-start your applications. What are you waiting for?

Start Now

Registered ASIC Agent No. 34174

Registered ASIC Agent State Revenue Office Victoria

Registered Agent SRO Victoria

NSW OSR logo 202

Registered Agent OSR NSW

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