What legal documents and prerequisites do I need to start an agribusiness?
To establish an agribusiness in Australia, you will need to prepare and register a variety of legal documents. Key requirements include:
- Registering your business name with the Australian Securities and Investments Commission (ASIC).
- Obtaining Workers' compensation insurance and business insurance (e.g. public liability, professional indemnity).
- Securing Council approval (if operating from a commercial premise) and a lease agreement (if renting premises).
- Having Health and safety policies and procedures in place.
- Complying with privacy and data protection policies and procedures.
- Obtaining an Australian Business Number (ABN) and registering for Goods and Services Tax (GST).
- Supply Agreement: if you're working with suppliers for your business, it's important that you capture the details of your arrangement in writing. This will help clarify key roles and responsibilities of parties, as well as set out a clear dispute resolution process.
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