Your own business
Information and resources to help you consider how to use your skills to start a side-hustle or a small business
Your own business
Small Business Overview
Tasmania has nearly 40 000 businesses and over 95 per cent of these are small businesses.
Small business accounts for over 97% of all Australian businesses:
- 62.8% are sole trader (one owner-operator)
- 25.7 % are micro business (2 – 4 employees)
- 8.9% are small business (5 – 19 employees)
Many people are content for their side-hustle to add a little extra income. Some people use this to grow a small business.
It’s important to consider your migration situation and personal finances together with the realities of the business itself.
It’s hard work, the lifestyle is not for everyone, and it might not be the right time in your migration experience, but it can be satisfying to be your own boss.
Migrants and small business
Migrants are entrepreneurial and tenacious. More than one third of Australia’s small businesses are run by first or second-generation migrants. And more than 80 percent of these small business owners did not own a business before coming to Australia. Nationally, 14% of migrants report small business income.
Migrant businesses also support social harmony by creating a space for people of different cultural backgrounds to interact, breaking down barriers to understanding.
Small business stories
- Enterprize alumni of start-ups
- Start Up Tasmania stories
- Make It Tasmania business stories
- NEIS micro business stories
- NILS Tasmania micro business loan case studies
YOUR OWN BUSINESS
Qualifications
Learning is mandatory but qualifications are not
To be successful in small business requires continual learning. Formal qualifications are not the only type of learning.
Vocational Education Training
These are nationally recognised qualifications:
- TasTAFE business courses
- Certificate IV in New Small Business, delivered free by APM for free in the NEIS Program
- Certificate III in Micro-Business Operations, delivered by APM for free in the NEIS Program
Tertiary qualifications
Migrant business owners are more likely to have a bachelor degree or higher (51%) compared to non-migrant business owners (38%).
These are some university qualifications:
- The University of Tasmania has a suite of business study options.
- Open Universities Australia allows study of single subjects online.
- Business and Management MOOC (Massive Open Online Course) offers free online study.
Even if you do study, you also need to know how to use formal and informal supports to fill in knowledge gaps for different stages of a business.
YOUR OWN BUSINESS
Your Skill Development
Career development
Starting a small business develops many transferrable skills that valued by employers such as initiative, problem solving and time management.
Business training
- Business Training Workshops with Business.Gov.Au.
- Short courses with Tasmanian Chamber of Commerce and Industry
- New Business Assistance with NEIS (New Enterprise Incentive Scheme) – note: students are ineligible.
- Australian Small Business Advisory Services – digital skills and solutions
- Australian Taxation Office small business webinars – records, cash flow, deductions and more topics including some industry specific guidance.
Start Up incubator
- Enterprize Tasmania has a Born Global Incubator program of 14 weeks. Subscribe to Enews to know when registrations are open.
Resources of self-directed learning
- Start Up Science is a collection of tools for micro business
- Small Business Starter workbook can help you determine if you’re ready to start a business, and what learning or support you need
- Business Tasmania videos
- Business.gov.au videos
Personal development
Subscribe
YOUR OWN BUSINESS
Networking
Small business news
- Latest news releases from Sarah Courtney, the Minister for Small Business, Hospitality and Events.
- Select small business when subscribing to the Migrant Network E News so you get information from MRC Tas about local opportunities.
Network by participating in Enterprize projects
- Big Ideas Challenge is open for applications till 6:00 pm, 19 April 2021.
- Born Global Incubator program is a chance to develop your skills and pitch to business leaders. An excellent boost to networking.
Follow on Facebook
Event calendars to bookmark
- Business Tasmania calendar of events
- Business South events on Eventbrite
- The Van Diemen Project events on Humanitix
Subscribe to find networking opportunities
- Business Tasmania e-news and events
- Enterprize news and events
- Rural Business Tasmania news and events
Platform to promote your business
- Humanitarian entrants can list a business on the refugee business directory
YOUR OWN BUSINESS
Tasmanian Resources and Advice
Small business resources
- Business Tasmania – Statewide government information for all types of businesses.
- Start Up Tasmania – Statewide network helping entrepreneurs.
- The Van Diemen Project – Northern service provider for people considering starting a business.
- Business South – Southern service provider for people considering starting a business.
No-interest loans
- NILS Tasmania micro business loans of 3000 for people with a health care card and business plan.
- NILS Tasmania is also trialing a low income loan of 1500 for people who are not eligible for Centrelink support.
Advice for small business
Enterprise Centres Tasmania have free appointments with business advisors. You can seek advice on:
- starting or expanding a business
- managing your cash flow
- dealing with unforeseen events
- developing a marketing strategy
- taking your business online
- commercialising an idea
- exporting your product
- identifying new opportunities and networks
Work Safe Tasmania have advisor about work health and safety. Scam Watch has information about how to protect your small business from common scams.
YOUR OWN BUSINESS
Where to run your business
Home based business
Nearly a million Australians run a business from home. Consider these tips from Business.gov.au.
Office space
Enterprize is a pair of co-working spaces in Hobart and Launceston designed to serve and build the Tasmanian startup community.
Online business
Digital Ready helps small businesses get online. Service includes:
- A check-up for your business
- Videos for learning
- 4 hours of digital coaching
Meeting space
Multicultural Council of Tasmania manages the Hub which has free meeting space, and hall space for hire.
Market stalls
Markets stalls can be a way of doing business research. Stall fees and requirements vary. Find markets in Tasmania by:
- Looking at local council website – e.g. community halls, art centres
- Civic clubs such as Rotary – e.g. fundraising markets
- Asking locals – e.g. fresh produce, crafts markets
Co-location
Some businesses may have space or resources that could help your business. If negotiating a co-location agreement, consider fees paid to rent or use the space, and be ready to show that you have insurance to cover your activities.
YOUR OWN BUSINESS
Create your own job
Know when a hobby becomes a business
Understand the definition of a business and the tax obligations that are different to hobby sales.
Business in Australia
Running a small business in Australia; What you need to know is published by ASIC.
Getting ready
First Business App was developed by the government to help you work out whether you are ready to start a business. Available on Apple and Android.
Your Australian Business Number
Register an Australian Business Number for free.
Business structure
Sole trading is the simplest business structure. Sole trader advice from the Australian Taxation Office.
Business registrations
Other registrations may include a business name and website domain.
Business development tools
These tools guide your business planning:
- Business Canvas – A tool to test your business idea
- Value Proposition – A tool to develop your business idea
- Business Planning – A hub of templates, checklists and tools
- Business Viability Assessment Tool – A took explained in a Australian Taxation Office webinar
YOUR OWN BUSINESS
Acknowledgements
The Migrant Network acknowledges the invaluable input from the business community.
Contributors and reviewers of this Small Business page: Daniela Schurink-Moeller, Business South.
“It was very pleasant to be part of this program. It is very good to see this in our community, always looking to help others” Skilled migrant, 19 April 2021
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About MRC Tas
Migrant Resource Centre Tasmania (MRC Tas) is a not-for-profit organisation that has been supporting people from migrant and humanitarian backgrounds to settle successfully in Tasmania since 1979.
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About Migrant network tasmania
Migrant Network Tasmania draws on the goodwill, stories and tips of migrants and the wider community to help fellow migrants to establish lives and careers in Tasmania.