Got your ABN? Here's what to do next.

Getting an ABN is an exciting milestone but it's only the beginning.

Many new business owners think they're ready to start trading as soon as their ABN is approved. In reality, there are several important steps that often get missed. We’re here to walk you through what to do next so you can start your business with confidence.

1. Decide whether you need a business name

An ABN and a business name aren't the same thing.

• If you're trading under your own legal name, you may not need to register a business name.

• If you're trading under another name, you'll usually need to register one.

2. Open a business bank account

Keeping business and personal finances separate makes bookkeeping much easier. Even if you're a sole trader, a dedicated business account can save time and reduce confusion.

3. Check if you need GST registration

Not every business needs to register for GST straight away. Many businesses only register once required or when it makes sense for their circumstances.

4. Organise your record keeping

Create a simple system before you make your first sale.

Keep records of:

• Income

• Expenses

• Invoices

• Receipts

5. Consider business insurance

Depending on your industry, you may need different types of insurance.

Examples include:

• Public liability

• Professional indemnity

• Product liability

6. Set up your invoicing

Have an invoice template ready before your first customer. Include all required business information where applicable.

7. Understand your tax obligations

Getting an ABN doesn't automatically mean:

• you're registered for GST

• you lodge BAS

• you pay tax the same way as every other business

Understanding your obligations early can help avoid surprises later.

Ready for the complete roadmap?

The Australian Business Launch Kit expands on every step above with practical checklists, timelines and worksheets to help you launch with confidence.