• Squad 4: Starting a small business for young adults

    This squad examined the issues faced by young adults when starting a small business for the first time. The problems that small business owners experience include:

    • incomplete or no research and planning
    • lack of business management knowledge and experience
    • no central resource connecting people with customised information and advice when they need it.

    We've been working with various government agencies and intermediaries to implement the squad's recommendations. These are outlined in the table below.

    Squad recommendation

    Status

    1. Develop a central resource for people starting a small business, including:

    • 1A – redesigning the business.gov.au Starting a small business page and related content to make it more customised and accessible for small business owners
    • 1B – presenting this information in mobile app format
    • 1C – investigating the viability of delivering information in a game format.

     

    1A completed:

    Plan and startExternal Link on business.gov.au.

    1B in progress:

    The small business app is under development. ASIC expect to release it in February 2017.

    1C closed:

    At this stage the game concept (considered by the squad to be a lower priority) will not be progressed due to development costs.

    2. Create an engagement pack (push service) for new small business owners, triggered at the time of ABN registration, with relevant information delivered regularly over the course of their first year in business.

    In progress:

    A pilot of the New to business essentials series started in February 2016. The complete series is currently under development and expected to be finalised by December 2016.

    3. Create a whole-of-government catalogue of grants and programs available to small business owners (searchable by location and industry).

    Completed:

    Grants and assistanceExternal Link on business.gov.au.

      Last modified: 02 Dec 2016QC 47238