How to Start a Business in Australia: 2026 Step-by-Step Guide

The 2026 Australian founder's playbook

Australia is one of the easiest developed economies to start a business in. You can be trading legally in under 48 hours and for less than AU$100 in setup fees. This guide covers the exact steps, in order, that a solo founder should take in 2026.

1. Pick your business structure

You have four practical options:

• Sole Trader — Simplest and cheapest. You are the business. Personal liability, personal tax rate, no separate tax return for the business.
• Company (Pty Ltd) — Separate legal entity, limited liability, 25% tax rate for small businesses under AU$50M turnover. Costs about AU$576 to register with ASIC.
• Partnership — Two or more people sharing profits. Cheap, but joint liability.
• Trust — Tax-flexible but more complex; usually paired with a corporate trustee.

For most first-time solo founders, start as a sole trader and upgrade to a company once you're making over AU$75,000 or want to bring on investors.

2. Get an ABN (Australian Business Number)

Free, online, takes 15 minutes at abr.gov.au. You need an ABN before you invoice anyone. If you skip it, buyers must withhold 47% of the payment as tax.

3. Register a business name (if it's not your own)

If you trade under any name other than your legal name, register it at ASIC Connect. AU$44 for one year, AU$102 for three.

4. Register for GST if you'll turn over $75k+

Below that threshold, GST is optional. Above it, you must register within 21 days.

5. Open a business bank account

Every major bank offers one. Wise, Airwallex, and Revolut Business also work well for online-first brands selling globally.

6. Sort your compliance

• Insurance — Public liability (AU$400/yr), product liability if you sell physical goods.
• Industry licences — Cosmetics (AICIS), food (state health department), alcohol (state licensing).
• Privacy / consumer law — Even one-person e-commerce sites need a compliant Privacy Policy and Refund Policy under the Australian Consumer Law.

7. Get your first customer within 30 days

This is the step most guides skip. The paperwork above is trivial. Distribution is not. Before your first month is over, aim for one paying customer — even at a loss — because that single transaction teaches you more than any business plan.

Costs summary

Bottom line

Starting a business in Australia is procedurally cheap and fast. The barrier is not paperwork — it's finding your first ten customers. Use platforms like Start Business in Australia to compress the brand, storefront and launch plan work down from weeks to under an hour, then spend your saved time on selling.