Setting up an electrical contracting business
Before you start your new business, you need to consider your options, do your research and plan ahead.
Can your idea work?
To accurately predict your chances of success, you need to evaluate your business idea. Below are some strategies to help you assess the viability of your business idea.
7 steps to business success
Many new businesses (50-80%) fail in their first 3 years of operation because of poor planning and management. Our 7 steps to business success guide helps you assess your business environment, market conditions, operations and finances to determine whether your business will succeed.
Learn more about our 7 steps to business success.
Business readiness quiz
Our business readiness quiz helps you identify the key business areas you need to work on before you are ready to start a new business.
Take our business readiness quiz.
Plan to succeed
Planning is one of the most important things you can do to achieve business success. Once you have gone through the 7 steps to business success and completed the business readiness quiz, you should be ready to start planning your business. This process gives you an opportunity to consider what goals are realistic and achievable, and helps identify what you can do within your budget.
Find out how to prepare a business plan.
Market research allows you to assess the viability of your business, challenge your assumptions and identify business opportunities.
What you learn from market research helps you to:
- develop business strategies
- identify your target market
- assess your competitors
- position yourself in your industry and the business environment.
Read more about market research.
Your business structure
Choosing the best structure for your business is one of the first and most important decisions you need to make. You should seek professional advice before you decide on a business structure because there are many legal, financial and tax issues to consider.
The 4 most common business structures are:
- sole trader
Find out how to set up these legal structures and the advantages and disadvantages of each structure.
Establishing your business
Learn more about establishing your business, including business rights and responsibilities, tax requirements and business insurance.
Registering a business or company name
Choose a business name that accurately reflects your business operation and conveys to clients what services or products you sell. You may also require a company name to operate your business.
Check to see if your proposed business or company name is available on the Organisations and Business Names search.
Learn more about registering a business or company name.
Useful business tools and resources
Business planning tools
You can access a range of business planning tools for free, including:
Learn more about these useful tools for preparing a business plan.
Australian Business Licence and Information Service (ABLIS)
ABLIS is a free online service that will help you find the right local, Queensland and Australian government licences, permits, registrations and other support services that you need to operate a business.
Web-based seminars are an ideal way for you to improve your business skills without having to leave your desk. The Queensland Government regularly provides free business webinars that cover a range of topics to help you plan for and continually improve your business.
Trade and export
Trade and Investment Queensland aims to help Queensland companies earn more export dollars through individualised and targeted services such as workshops, seminars, networking events and mentoring.
Business online resources
You can sign up to or visit our Facebook, Twitter and YouTube accounts to receive business updates, links to useful information and support, and case study videos to help you start, run and grow your business.
- Last reviewed
- November 19, 2013
General enquiries 13 QGOV (13 74 68)