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Change & growth

Restructuring

Changing the structure of your business can be a big step. The main thing to know is that if your existing business structure isn’t working, you can choose a different one.

Registrations

Register a Tax file number (TFN)

A TFN is a unique number issued by the Australian Taxation Office (ATO) to individuals and organisations to help manage tax and other government services. The type of TFN that you need however, can depend on your business structure.

Risk management

Workers compensation insurance

If you have employees, workers' compensation insurance is mandatory. This protects your employees when work-related accident or illness occurs.

Change & growth

Change business structure

A business restructure refers to reorganising your business. It is generally done to be more profitable, improve processes and adapt to the changing needs of the business.

Planning

Business structures

There are a number of structures that you can choose from when starting or expanding your business.

Closing

Bankruptcy

When your business runs into financial trouble, take the time to seek advice and support as soon as possible, to understand what options are available.

Registrations

Register your company

You'll need to register as a company if you decide it's the best structure for your business. It has different legal, financial and record keeping responsibilities than other structures.

Finance

Set up a business bank account

When starting a business you may consider setting up a business bank account to manage your business finances.