Thinking of starting a business in the Mornington Peninsula area?
You may be starting with a spark of an idea, looking to expand from a hobby to a business, or perhaps you’re exploring the option of purchasing an already established operation?
It’s important to plan and prepare with the right information to ensure you are off to a good start.
Not only will you need to find your way through permits and registrations, it also helps to have a clear understanding of your market, competition, and potential opportunities, allowing you to make informed decisions that can help your business thrive.
Always. Always. Have a plan.
Consider the following questions:
Who is my target market?
What are the demographics of the area I’m selling in?
Who are my competitors and why would people buy from me instead?
What business regulations apply to my business?
Do I need to register a business name?
Do I need any specific permits or licences?
What taxes do I need to account for?
Will I need staff and how do I pay them correctly?
How do I pay myself?
Do I understand my finances?
How long will it be before I can break even (or see a profit)?
What should my business and marketing plan look like?
There’s a lot to think about, so take advantage of the information that is available to you.
A good place to start is with Business Victoria
They provide a vast range of resources, information and guidance on starting and managing a business.
There are multiple ways of registering your business
If you decide to start up a business, you’ll need to register with the appropriate organisations.
The Australian Securities & Investments Commission is where you’ll spend most of your time, and some or all of the following may be required:
Check if the Business Name you hope to use is available.
Apply for an Australian Business Number (ABN).
Are you operating as a Sole Trader, or will you need a Company Number.
Connect with the Australian Tax Office.
Start with Consumer Affairs Victoria and follow the links to the relevant organisations.
When you start a business, you also need to understand what laws apply to you – regardless of whether you are just beginning or taking over an existing venture.
It is recommended that you consult a legal expert or business adviser to understand which laws you will need to follow.
Mornington Peninsula Shire provides a comprehensive summary of all of the relevant approvals that you may need during the various stages of a development, particularly the approval processes that the Shire administers.
Is the type of business appropriate for the area?
Do you have sufficient car parking spaces for you and your customers?
What hours will your business be open?
What type of signage do you need?
It is recommended to work with the Shire Planning Team so that you can optimise your opportunities and meet all of the requirements swiftly.
The type of business or service you operate may mean there is a very specific set of rules that apply.
Are you preparing or serving food?
Does your kitchen meet the minimum requirements according to the Food Act?
Is your business connected to a sewer and do you need to treat wastewater?
Does your business need to consider the Public Health and Wellbeing Act Premises (such as hairdressers or tattoo parlours)?
Opening a cafe, restaurant, or other food premises?
When opening a food premises on the Mornington Peninsula, it is important to meet specific guidelines and regulations for the health and safety of you and the community.
From Allergens to Zoonoses and everything in between, check out what you need to know about Food Safety before you serve food in your business.