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There are so many different things to consider when starting a business in 2025. With evolving technology and updated legislation, many budding entrepreneurs can feel overwhelmed even before their new venture is up and running!
When there’s more than a few things to keep track of, it helps to have clearly defined guidance. That’s why we’ve updated our list of 12 essential steps for starting a business—tailored for the challenges and opportunities of 2025—to set you in the right direction.
1. Get A Business Plan
The first step to any great business in 2025 is a comprehensive business plan. It’s essential to consolidate all your ideas, market research, and strategies in one place. In today’s rapidly evolving market, your business plan serves as a practical roadmap that guides you through competitive landscapes and emerging trends.
- An executive summary
- Market research
- Equipment or tools
- Notes on competition
- Sales and advertising strategies
- Financial projections
- Description of products and services
- Management structure
While a business plan is not a legally binding document, it provides a vital blueprint that helps you set realistic goals and milestones aligned with current market conditions.
Moreover, a robust business plan can impress potential investors and financiers, proving your preparedness as you venture into the dynamic economic climate of 2025.
2. Get Funding For Your Startup
Be clear on how your business will be funded – whether it’s through your own savings, investments from others, or innovative financing methods like equity crowdfunding. In 2025, many startups are diversifying their funding channels to secure the capital they require.
Some entrepreneurs are embracing crowdfunding, where a community of retail investors provides funding in exchange for equity or rewards. This not only boosts your capital base but also validates your business concept to the market.
Whichever funding option you choose, ensure you have a detailed financial plan that accommodates unexpected expenses—a critical step in today’s fast‐paced business environment.
For further insights on innovative financing options and managing startup expenses in today’s climate, check out our Small Business Funding guide.
3. Register Your Startup
Registering your business should be one of your first tasks. You’ll need to obtain your Australian Business Number (ABN), which is essential for all subsequent legal documents and tax matters.
Registration can be completed online by submitting the required details. Thanks to streamlined digital processes, once your application is approved, you’ll receive your ABN quickly—keeping you moving forward in 2025.
Which Business Structure Should You Choose?
Before registering, ensure you have sorted out your business structure. Whether you choose to operate as a sole trader, form a partnership, or incorporate a company will affect your registration process, taxation, and legal obligations.
For instance, if you opt for a company structure, you will also need to secure an Australian Company Number (ACN) in addition to your ABN.
The registration process further includes applying for the relevant taxes, which may vary according to your chosen structure. This is an excellent time to consult a legal professional to ensure you’re fully compliant in 2025.
Your business structure will also dictate the key legal documents you need—for example, companies must have a Company Constitution or rely on the replaceable rules under the Corporations Act 2001.
4. Hire Employees For Your Startup
Building the right team is crucial for your startup’s success. However, hiring staff introduces additional legal responsibilities, including ensuring that your employment terms are clear and compliant with updated laws.
It’s important to consult with an Employment Lawyer to make sure that your contracts and workplace policies meet the current standards required in 2025.
5. Get The Right Licence And Qualifications
Depending on your industry, you may be required to secure specific qualifications or apply for licences prior to commencing operations. For example, if you plan to run a childcare centre or provide healthcare services, obtaining up-to-date certifications is a must.
Similarly, if you intend to serve alcohol on your premises, ensure you obtain the appropriate liquor permit. Investigate the legal requirements relevant to your sector and location well in advance of your launch.
6. Sort Out Your Office Space
Deciding on where your business will operate is another crucial step. Whether you set up a home office or rent a commercial space, having a designated area for business operations aids in keeping both productivity and administrative tasks organised.
If you’re considering a home-based setup, be sure to review local zoning requirements and council regulations; our updated Home Business Laws guide offers practical advice for 2025.
For those planning to lease an office space, you might need a Commercial Lease that clearly outlines your rights and responsibilities. Our legal team is available to help you navigate the leasing process and secure terms that protect your interests.
Do I Need A Commercial Lease?
Commercial leases are distinct from other leases because their terms can be negotiated to fit your unique business requirements. They typically cover details such as operating hours, permissible uses, rent abatement, fixtures, and termination clauses.
Having a legal professional draft and review your lease agreement ensures you secure a favourable deal and minimise potential risks.
7. Open A Business Bank Account
It’s prudent to separate your business finances from your personal ones. In 2025, many business structures—especially companies—are required to operate with a dedicated business bank account to ensure transparent financial management.
Even if you’re operating as a sole trader, maintaining a separate account is a best practice that simplifies tax preparation and record-keeping.
8. Get Your Legal Documents Sorted
Ensuring that all your legal documents are in order is critical to protecting your business and remaining compliant with current laws. From contracts and agreements to internal policies, robust legal documentation is a cornerstone of a secure business foundation.
Below, we outline the key documents you should have in place:
Shareholders Agreement
A Shareholders Agreement is essential if your company has multiple owners. It outlines expectations, rights, and responsibilities; covers share transfers; and lays out dispute resolution procedures to ensure smooth operations as your business grows in 2025.
Company Constitution
A Company Constitution sets the framework for managing key company decisions. Under the Corporations Act 2001, if your company does not adopt a constitution, the replaceable rules apply. Ensure your constitution reflects your current operating style and future ambitions.
Consult an expert lawyer to tailor your constitution, ensuring that it safeguards your company’s interests and provides clarity for all involved parties.
Employment Agreement
An Employment Agreement is indispensable when onboarding staff. This document should detail roles, compensation, work hours, leave entitlements, and behavioural expectations—helping to establish a strong, legally compliant foundation.
Keeping these agreements up-to-date with modern industrial awards and employment law is paramount, as any non-compliance (such as wrongful dismissal) can lead to costly legal disputes.
A solid Employment Agreement sets the stage for a professional relationship and minimizes future misunderstandings.
Terms And Conditions
Terms and Conditions clearly outline the rules for engaging with your business, from customer behaviour on your website to limitations of liability. For example, Website Terms and Conditions specify what is considered acceptable, empowering you to moderate interactions effectively.
Implementing clear terms can help resolve disputes and protect your business interests from the outset.
Supply Agreement
A Supply Agreement is essential if your business depends on regular deliveries of supplies. This contract details what goods will be supplied, delivery schedules, payment terms, warranties, responsibilities, and dispute resolution methods.
- The goods to be supplied
- Delivery timelines
- Payment methods
- Warranties
- Liabilities
- Dispute resolution procedures
If you work with international suppliers, consider additional legal measures to ensure that contracts are internationally enforceable.
Contractors Agreement
If you decide to work with contractors rather than hiring full-time employees, a clear Contractors Agreement is essential. This agreement should define the contractor’s role, deliverables, payment terms, and establish that they are not entitled to the benefits given to employees.
A well-drafted Contractors Agreement helps prevent misclassification and ensures your business adheres to modern employment standards.
9. Allocate Shares
When forming a company, one key decision is how to allocate shares. Learn more about allocating shares effectively so that ownership and control are distributed in a way that supports your business goals.
Carefully plan how shares will be divided, document these decisions in your shareholders agreement, and consider using incentives—such as drag along or tag along clauses—to keep everyone aligned as your business grows.
10. Protect Your Intellectual Property
In today’s digital era, safeguarding your intellectual property (IP) is more important than ever. Whether it’s your brand’s logo, proprietary software, or unique product design, protecting your IP is crucial to maintaining a competitive edge.
You can secure your IP through various means, including:
- Trade marks
- Copyright registrations
- Patents
- Trade secrets
Register your patents and trade marks via IP Australia. Once registered, these rights are protected for a fixed period, with the option to renew—learn more about trade mark renewal on our site.
For copyrighted material and trade secrets, rely on strong internal processes and robust legal agreements, such as incorporating Confidentiality Clauses into your Employment and Contractors Agreements.
11. Meet Your Employer Obligations
As an employer, you have a duty to ensure a safe and fair work environment for your staff. This means providing every employee with the correct entitlements and ensuring they are treated respectfully under modern workplace laws in 2025.
Staying up-to-date with workplace health and safety practices is essential for preventing legal issues and maintaining employee satisfaction.
Workplace Health and Safety
Workplace Health and Safety (WHS) is regulated by Safe Work Australia and is essential for protecting both the physical and mental well‐being of your team.
Employers must ensure that both office-based and remote workers are provided with safe working conditions. Initiatives such as regular risk assessments, updated training programs, and clear reporting channels play a vital role in maintaining compliance.
Taking a proactive approach to WHS in 2025 not only protects your employees but also reinforces your commitment to a safe and productive workplace.
12. Know Your Consumer Law Obligations
If your business regularly interacts with consumers, it’s imperative to be aware of your responsibilities under the Australian Consumer Law (ACL) and the Australian Competition and Consumer Commission (ACCC). These frameworks are designed to protect consumers and promote fair trading practices.
Ensure that your business:
- Displays accurate pricing and advertising
- Maintains clear policies for refunds, replacements, and repairs
- Prevents any misleading or deceptive conduct—as outlined in our tips on avoiding deceptive practices
- Properly labels products
- Provides appropriate warranties
- Ensures that products and services meet safety standards
- Issues receipts for transactions
Staying compliant with these laws is essential to protect consumers and safeguard your business reputation. If you’re unsure about your obligations, consider consulting a Consumer Law expert for up-to-date advice.
Key Takeaways
Staying informed and prepared is crucial as you navigate the challenges of starting a business in 2025. At Sprintlaw, we provide comprehensive legal guidance to help your new venture succeed. Whether you need assistance with legal documents, business registration, or any of the steps above, our team is here to support you.
In summary:
- A well-crafted business plan is your roadmap to success
- Secure appropriate funding and any required licences
- Register your business with a structure tailored to your needs
- Ensure you meet your legal obligations as an employer
- Keep your finances organised with a dedicated bank account
- Maintain up-to-date legal documentation
- Allocate shares thoughtfully and plan for future ownership transitions
- Protect your intellectual property through registration and internal policies
- Adhere strictly to consumer law requirements to avoid disputes
If you need professional advice or assistance with any of these steps, don’t hesitate to contact us at 1800 730 617 or team@sprintlaw.com.au for a free, no-obligations chat. We’re here to help you build a strong foundation for your business in 2025 and beyond.
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