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Seeds Business Foundations

Business Foundations

Queensland Indigenous Business Network
Queensland Indigenous Business Network

After coming up with a solid business idea and laying out your vision, the next step is to set up some basic structures that will help your business run smoothly and officially.

At this stage, you’ll be making important decisions about how your business is recognised and managed. These choices affect your legal identity, how people will interact with your business, and how easily you can grow or make changes in the future. Taking the time to work through these steps carefully can save you from having to redo things and minimise risks down the line.

Follow the resources on this page to help you make the leap from an idea to setting up the foundations, so you don’t rush into registrations or other commitments before you’re ready

Choosing a Business Name

Your business name is how customers, partners, and regulators recognise your business. Your business name will form part of your legal identity and will appear on registrations, contracts, invoices, and public records, so it’s important to put thought and often research into your name before you decide on one.

If you need help choosing a business name, we can guide you on how to assess the availability and appropriateness of a business name based on clarity, meaning and long-term suitability for your business.

Find Your Name

Business Name Suitability Checklist

 Once you have chosen a business name, you’ll need to make sure it’s suitable. To support consistent decision-making, the Business Name Suitability Checklist (Queensland Government PDF) can be used alongside the naming template to reduce the likelihood of choosing a name that later becomes limiting or confusing.  

Download Checklist

Choosing a Business Structure

Choosing a business structure is an essential part of starting a business. You need to know the structure your business will follow before registering. This means deciding if you’ll trade as a sole trader, a company or something else. To help you navigate the path of choosing a business structure, find out more information on choosing a business structure here.  

Help Me Choose

Now that you’ve got an idea, a name and a structure, let’s talk about creating business plans, action plans and SWOT analysis for your business. While you might not need them straight away, having them early sets your business up for success.   

Next Step - Creating a Business Plan

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