Business essentials: Business obligations and finances 101

This workshop is for Aboriginal and Torres Strait Islander people who are thinking about starting a business or who are already in business and want to get a better understanding of the statutory and legal requirements that need to be considered when operating a business in Australia. It also introduces basic financial management concepts and tools needed to help you run a business.

Key topics include:

• basic business structures
• skills, certifications and licencing
• government requirements such as tax, superannuation and employer obligations
• business management obligations such as insurance, record keeping, business names and intellectual property
• financial literacy and business terms
• basic financial management concepts, reports and tools
• commercial viability and solvency.

After completing this workshop, you should be better informed about some of the statutory requirements and other obligations that you will need to consider, should you go into business. You should also have developed a better appreciation of some business financial fundamentals that you may need to build on in setting the foundations for your business.