HOW TO PREPARE YOUR ECOMMERCE BUSINESS FOR SUCCESS

Need cloud accounting software?

Ready to start your own eCommerce business?

In this video, we'll discuss all the details you need to take care of when getting started.

It can be a lot to handle, but with a little planning and hard work, you'll be up and running in no time.

We want to help you succeed in your new business venture, so make sure to stay tuned for all the juicy details!

CHAPTERS:
00:00 - Intro
00:53 - Do your research when starting an e-commerce business
01:25 - 4 E-commerce business models
01:30 - Dropshipping model
01:53 - Wholesaler model
02:13 - White labeling/Manufacturing model
02:34 - Subscription model
03:06 - E-commerce business structure
03:18 - Sole traders
03:33 - Partnerships
03:49 - Corporations
04:31 - Register your business
04:42 - ABN
04:54 - What is GST / Goods and Services Tax
05:37 - Decide on your business name
06:05 - Organize your business insurance
07:08 - Tax obligations
08:09 - Import duties
08:21 - FOB / Freen on Board
08:45 - Income tax
09:06 - Accounting software & Inventory management software
09:59 - CRM system / Customer Relationship Management
10:34 - Final Thoughts

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Thank you for watching this video. I post weekly videos on this channel to provide the latest and most frequently asked business questions. Please take a second to say hi in the comments below. Also, if you enjoy my comments and find it valuable, subscribe to the channel, like and share it with anyone who you think might find my channel useful!

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Davie has over 10 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.

Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.

He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.

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DISCLAIMER: Please note that every effort has been made to ensure that the information provided in this video is accurate. You should note, however, that the information is intended as a guide only, providing an overview of general information available to contractors and small businesses. This guide is not intended to be an exhaustive source of information and should not be seen to constitute legal or tax advice. You should, where necessary, seek your own advice for any legal or tax issues raised in your business affairs.

Video produced by Social Wave

[enomousdanquah]

Hi, I'm new to the ecommerce and I'm stuck with opening a business account and registering for the store. And I'm starting with dropshipping first.

[orweyn]

Hi! If I start to sell out of Australia do I have to pay other taxes?

[enomousdanquah]

I applied and got my ABN. What else should I do?