Operating as a sole trader is the simplest and cheapest business structure you can set up. You control and manage the business, and although you 'trade' on your own, you can still employ people to work for you.
To set up as a sole trader, you need to:
- register a business name
- apply for an Australian Business Number (ABN)
- register for Goods and Services Tax (GST).
At the Australian Government's Business Registration website you can do all of this using one online form. The form will also:
- tell you what information you need to complete your registrations
- allow you to save your progress and come back later
- give you other helpful information related to setting up your business
- let you make other business registrations you may need.