Generate Blog

How do you start and setup your own business?

Starting your own business - sounds so romantic, doesn't it? Well it is and it isn't. In this article we'll take a look at the steps you need to take when starting and setting up your own business.

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What incentives are available for your startup?

For all the pollies talk of innovation-this and innovation-that you'd be forgiven for thinking the road was littered with free cash for entrepreneurial types to start new businesses. It is and it isn't. In this article we'll run through what incentives are actually available for startups.

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How to find the right talent for your startup

Finding staff for a startup can be tricky especially for those used to hiring for established and more traditional businesses. This is especially true in the early days. In this article we'll take a look at why that is and some tactics you can use to find the right people for your team.

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Is my startup burning through cash too quickly?

There has been a lot of chatter over the last few years about how much cash startups are burning through on a monthly basis. And for good reason, as 24% of all startups fail from running out of cash.  Cash can come and go in a flash, even if it seems impossible to burn through all the venture capital you’ve received.  So how can startups manage their burn rate and avoid going bust so early on in their existence?

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Thinking about getting an investor for your business?

A question that comes up time and again here at Generate is clients asking about taking on investment in their businesses. Looking to grow via investment is an exciting time for any business owner, but excitement is something that can quickly cloud judgement and lead to poor decisions being made. With that in mind, we'd like to run through a quick overview of the main things you should consider when looking at taking on investment in your business.

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Should you really start a small business?

Perhaps it's the company I keep, but it feels like every day I'm hearing about someone starting a new business. Often this is someone who has never been in business before, but they feel they are great at what they do and feel they'd be equally as great at running a business selling what they do. The other side of this hope-laden coin is that we're often called in to help businesses that are struggling because the owner is, to put it plainly, not suited to the task of running a business.

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Tax incentives for investors?

Late in 2015 the Government announced they'd be giving tax breaks to investors in early-stage innovation companies (commonly, and confusingly, referred to as "start ups"). These tax breaks are looking likely to get royal assent and, as such, should be in effect from 1 July 2016.

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Business structures part 3 - The company

What is a company? A company is a legal entity distinct from those who may own or run it. It has it's affairs managed by directors (aka officeholders) and is owned by shareholders (aka members). A shareholder's liability is generally limited to any amounts that may be unpaid for their shares. Without considering misconduct, a director's liability will generally be limited to any unpaid employee entitlements (e.g. superannuation and PAYG withholding) there may be.

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Your business runway and what that means

Last week I was introduced to a new term when someone asked me, ‘what’s my company’s runway?’ And as this someone wasn’t running an aviation company, I was momentarily baffled.

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Business structures part 1 - The sole trader

It is important to carefully consider your options when selecting which structure to use for your business operations. The following guide is intended to get you thinking about the relevant issues and are by no means exhaustive. This first instalment is about the humble sole trader option.

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