Starting Your Own Business
If you have ever considered going into business for yourself or founding your own company, this section explains some important steps to help you start down that road. The government has established a 10-step guide for starting a business (see below).
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Make sure your idea is viable: To achieve greater certainty about the feasibility of our business idea it is important to develop a business plan, including an understanding of your market. There are many valuable resources online to help you develop and implement your ideas.
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Choose the name of your business: It is important to choose the right name for your initiative. The government has created a search tool where you can check if your business name is already in use. To access this search tool click here www.business.govt.nz/onecheck
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Decide on a business structure: It is important to define whether you plan to work independently, collaboratively with other businesses or individuals, or as a contractor for third parties. The Government has created a tool that helps people discover the best way to put their business idea into practice: www.business.govt.nz/choose-business-structure
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Get a business number: The New Zealand Business Number (NZBN) is a unique identifier of your business that brings together information which others will need when working with you (name, phone, email, etc.). Registration is done online and is free for entrepreneurs and people who work independently: www.nzbn.govt.nz/get-an-nzbn
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Reserve the name of your business: Once you have confirmed that the name of your business idea is available, you can obtain a legal guarantee it will be yours when you are ready to set up your business. This will require a $10 fee, payable at the following website: companies-register.companiesoffice.govt.nz/help-centre/starting-a-company/reserving-a-name-for-a-new-company. It is also recommended that before you register your business you do a deeper search on the use of your business name by other companies on this website www.iponz.govt.nz/about-ip/trade-marks/spa
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Review regulations and rules: Local and national regulations will apply to your business, be it consumer rights, hygiene or privacy. It is recommended that you inform yourself about these rules and visit this website for compliance advice: www.business.govt.nz/compliance-matters
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Register your company: If you have decided that your business will work as a company it is important that you register it on this website: companies-register.companiesoffice.govt.nz/help-centre/starting-a-company
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GST Registration: You must register online and free of charge at the Inland Revenue Department (IRD) if your remuneration is greater than $60,000 per year. The procedure is done on this website www.ird.govt.nz/gst
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Get a RealMe account: from www.realme.govt.nz/, register your business name linked to your IRD number and business bank account.
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Register your trademark: This is the safest way to protect your brand. To achieve a registered trademark in New Zealand visit this website www.iponz.govt.nz/about-ip/trade-marks
For further advice and support, and to see the original guidelines: www.business.govt.nz
Financial Help
If you are in the process of starting your business and require a little help to cover the costs, Work and Income New Zealand (WINZ) can provide you with support through:
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Business Training and Advice Grant: provides assistance through an expert professional assigned to assist you in the development of a business plan, training in entrepreneurship skills, advice and financial reports of the project. The people who can apply for this benefit are those or their partners who receive benefit, retired people, who have requested help to start a business. WINZ also assesses the particular situation of each person and the difficulties in finding work in the local labour market.
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Self-employment start up payment: WINZ can support you to cover the costs of the equipment required to ship your business, supplies, materials to produce products, renovation of physical spaces, energy, internet, insurance, and web development. The people who can apply for this benefit are those or their partners who receive benefit, retired people, people who are starting a business or need help to become self-sufficient in their business. Persons who are bankrupt or have previously owned the business cannot apply for this benefit.
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Flexi-wage for self-employment: WINZ can provide a subsidy to cover the costs of starting a business that will depend on your living costs, needs, skills and business flow expectations. The people who can apply for this benefit are those who already receive a benefit from WINZ, or who are starting a business and need help to achieve their goal. It considers each particular case and how difficult it is for the person to find a job.
For more information about these methods of support, simply contact the WINZ office closest to your home.
