Business Startup Checklist Australia (2025 Updated)

There are so many different things to consider when starting a business. In fact, many budding entrepreneurs get overwhelmed before they’ve even got their new business running!

When there’s more than a few things to keep track of, it helps to have some sort of guidance. That’s why we’ve compiled a list of 12 basic steps for starting a business to help set you on the right course as we move towards 2025.

1. Get A Business Plan

The first step to any great business is the business plan. It’s good to have all your ideas, research and plans in one place. There is no definitive structure or length for a business plan; however, many like to include the following:

An executive summary
Market research and competitive analysis
Details of equipment or tools required
Notes on competition and industry trends
Sales and advertising strategies
Financial information including budgets and forecasts
Description of the products and services
Management roles and operational plans

While a business plan is not a legally binding document, it does serve as an important blueprint and a means for you to map out your business journey moving forward. Many of our clients find that revisiting their business plan throughout 2025 helps them adapt to changing market dynamics.

It can help you set realistic goals and milestones, ensuring your business activities run smoothly and according to plan. For further guidance on planning your business strategy, you might also find our finance guide useful.

2. Get Funding For Your Startup

You’ll need to be clear on how your business will be funded. Will you be using your own savings? Perhaps you’re planning on using investors? What about allocating shares to early stakeholders?

Some startups choose to engage in crowdfunding, reaching out to a pool of retail investors who provide funding in exchange for a stake in the company. Remember to review available government funding schemes and grants – updates for 2025 are available on official sites, along with details on business funding from our small business funding guide.

Whichever path you decide to take to fund your business, it’s essential to have a clear idea, solid backup plans and provisions for unforeseen additional expenses.

3. Register Your Startup

Registering your business is one of the first things you should do as you will eventually need your New Zealand Business Number (NZBN) for most of your legal documents. Your NZBN is the official way of identifying your business for tax and regulatory purposes.

Registration can be completed online by filling out the relevant information and submitting the application. Once approved, you’ll be notified by email and provided with your NZBN. For additional assistance, our business registration service offers expert guidance.

Which Business Structure Should You Choose?

Before you register your business, you should decide on its structure. This choice will significantly impact your tax obligations, liability, and the types of legal documents required. Whether you plan to operate as a sole trader, form a partnership, or incorporate as a company, choose the structure that best suits your long-term plans.

Your chosen structure will also dictate which documents you will need. For example, companies must have a Company Constitution or rely on the replaceable rules set out in the Companies Act 1993. It’s advisable to consult a qualified lawyer to ensure you’re fully covered.

4. Hire Employees For Your Startup

Getting the right staff to run your startup is crucial. While hiring employees will greatly assist in managing operations, it also introduces further responsibilities as an employer. It’s important to prepare well-thought-out contracts and comply with employment laws updated for 2025.

It’s best to seek advice from an Employment Lawyer to ensure you meet all legal obligations related to hiring staff. For further insight, check out our employment law services.

5. Get The Right Licence And Qualifications

Depending on your industry, obtaining the correct qualifications or applying for a licence is essential. For instance, if you are considering running a childcare business, you must have the appropriate certification before you open your doors.

Likewise, if you plan to serve alcohol, you will need to secure a permit. Ensure you thoroughly research the requirements relevant to your sector, and consult our guides on licence requirements for the latest details as of 2025.

6. Sort Out Your Office Space

Many business owners choose to start from home, while others may require separate office premises. Having a designated area for business operations is crucial for productivity and compliance with local regulations.

If you decide to run your business from home, consider any zoning requirements and council regulations. We’ve written more about the legalities of operating a home-based business to help you navigate this process. For those choosing a rented office, you might require a Commercial Lease—our legal team is available to review your lease and ensure you are well protected.

Do I Need A Commercial Lease?

Commercial leases differ from residential ones in that their terms can be negotiated specifically to suit your business needs. These agreements often cover operating hours, permitted use, rent abatement, fixtures, and termination conditions.

Having a legal professional draft and review your lease helps ensure that you are in the best possible negotiating position. For more details on this topic, our commercial leases services page is an excellent resource.

7. Open A Business Bank Account

It’s wise to keep your business finances separate from your personal accounts. Depending on your business structure, having a dedicated bank account may be a legal requirement—for example, companies must have their own account before trading.

Even if you are a sole trader, setting up a separate business bank account can simplify accounting and tax obligations. For further tips on managing your business finances, our information on financial management is highly recommended.

8. Get Your Legal Documents Sorted

The legal documents are among the most critical aspects of running a business. These documents protect your business, ensure legal compliance, and help manage risks. Staying organised with your legals from the start will benefit you greatly as your company grows into 2025 and beyond.

Let’s go through some of the key documents you will need.

Shareholders Agreement

For companies with multiple shareholders, a Shareholders Agreement is indispensable. This document establishes the rights and responsibilities of each shareholder, sets out procedures for transferring shares, details dispute resolution and outlines various other ownership matters.

Company Constitution

A Company Constitution is the founding document that governs how major company matters are managed. In its absence, a company must adhere to the replaceable rules under the Companies Act 1993. Ensuring your constitution accurately reflects your internal processes is crucial – our team is here to help if you need guidance.

Employment Agreement

When you hire employees, it is important to have clear terms in place regarding pay, work hours, responsibilities, and leave. An Employment Agreement helps protect both your business interests and those of your staff. Inaccuracies or breaches can lead to legal consequences, such as claims of wrongful dismissal.

Terms And Conditions

Terms and Conditions help set expectations for customers and partners alike. For example, Website Terms and Conditions guide user behaviour on your site and can limit your liability where necessary.

Supply Agreement

A Supply Agreement is essential when establishing a routine arrangement with a supplier. This document clarifies the goods to be supplied, delivery schedules, payment methods, warranties, liabilities and dispute resolution mechanisms. If your suppliers are overseas, consider aspects of international enforceability.

Contractors Agreement

For specialised or short-term projects, hiring contractors is a common practice. However, it is crucial to ensure that your Contractors Agreement differentiates them from full-time employees to avoid inadvertently incurring employee benefits.

9. Allocate Shares

When forming a company, one of the key issues to address is how to allocate shares. As outlined in our guide on share allocation, there is no one-size-fits-all approach. You will need to consider share division, shareholder rights, remuneration strategies – including founder compensation – and potential incentive mechanisms such as drag along or tag along clauses, ensuring your allocation strategy is robust as per the latest practices in 2025.

10. Protect Your Intellectual Property

Securing your intellectual property (IP) is crucial as it underpins your brand and competitive advantage. Protecting your IP might involve registering trademarks, copyrights, or even patents, all of which shield your creative output and business innovations as you carry on into 2025. Our intellectual property services can guide you through each step—from trademark searches to filing for registration.

In addition, if you’re developing proprietary software or a unique business process, consider consulting our intellectual property law experts for tailored advice on ensuring your innovations are well-protected against infringement.

11. Build a Strong Online Presence

In the digital age, having a robust online presence is essential. This involves the creation of a professional website with clearly defined Website Terms and Conditions and a Privacy Policy that comply with current data protection laws. These documents not only safeguard your business but also build trust with your customers as you progress through 2025.

12. Maintain Good Record-Keeping and Compliance

Finally, ensure you maintain meticulous records and adhere to all ongoing compliance requirements. Keeping detailed financial, contractual, and operational records will not only help with tax reporting but also provide a strong defence if disputes arise. Regularly reviewing your policies and procedures—with the help of our business partners guide—will keep your operations aligned with the latest legal standards as set for 2025.

Adopting these steps will help set a solid legal and operational foundation for your business. Remember, staying updated with the latest legal requirements and best practices is an ongoing process—by engaging with trusted legal experts like those found here at Sprintlaw New Zealand, you can continue to safeguard your business as conditions evolve.

Sapna Goundan

Sapna has completed a Bachelor of Arts/Laws. Since graduating, she's worked primarily in the field of legal research and writing, and she now writes for Sprintlaw.

Do you need legal help?
Get in touch now!

We'll get back to you within 1 business day.