Resources 16 March, 2017

5 Great Resources For The Self-Employed

Australia’s self-employed are a diverse group including contractors, freelancers and small business owners. If you fall into this group, there’s no shame in realising you need ongoing support and advice about being a sole trader to grow your business. Here we present the top 5 crucial resources for the self-employed, helping you to understand your rights, your tax compliance, and how to succeed in business.

1. Independent Contractors Australia
Independent contractors Australia is an organisation dedicated to helping contractors in business. By becoming a member, you help ICAC with the vital financial support they need to undertake private and public lobbying in the interests of contractors. This means influencing legislation and regulations concerning contractors. With membership, you also get access to the full website which gives you professional information on tax, OH&S and regulation issues. ICA can also help you by providing valuable networking opportunities in your industry with seminars and events.

2. ASIC’s MoneySmart
Money Smart is the official website of the Australian Securities and Investments Commission. Here, you’ll find a plethora of resources on all matters financial; from money management, to investments, mortgages, superannuation and retirement. The website includes a special section dedicated to self-employment. You’ll also come across articles, videos and audio lessons, as well as nifty tools like budget and credit calculators.

The Australian Government’s business website is an invaluable resource for those at any stage of business, whether it be starting up, running or closing shop. Read about tax and financial matters that pertain to your business like GST, fair trade and risk management. Aside from the tax and legal-side of managing your business, this website also gives advice on ways to grow your business, like using social media, and how to avoid scams.

4. ATO Website
The foundation of every good small business is good tax compliance. Knowing as much as possible about which compliance rules apply to you will help you stay out of debt and keep on top of your repayments. Disasters happen when self-employed people do not pay tax monthly and leave it to the end of the year when it’s too late.

5. Council of Small Business Australia
Similar to Independent Contractors, COSBOA is a body that represents small business, lobbying government figures to influence key decisions, and helping to promote the rights of small business in Australia. They also provide members with crucial information it the form of articles, and advertise events and seminars relevant to small business. COSBOA is a must-see website for anyone working for themselves.

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