What type of business should I start?

Do you want to start a new business, or would it be better to buy an already established one?

Starting a new business requires a great deal of time and money. You'll need to research the market, raise finance, establish contacts, find a location and maybe hire new staff.

Buying an established business, or a franchise, has the advantage that operations are already in place. The premises and stock, customer base, suppliers and income stream are already established.

State governments can help you with information and guidance on assessing business opportunities. Also consider seeking advice from professional business advisers or your solicitor or accountant.