Published on 30/03/2019 by Any Business.Com.Au

Small Business Success: Can I actually make a fortune from my laptop?

There's plenty of stories out there of people that seem to have simply picked up their laptop one day and begun running a profitable small business straight from their bedroom.

Clearly, there's got to be more to it right? Well…yes!

Starting an online business begins with filling a need and building credibility, but the factors that go into making your online business a smashing success don't stop there.

While the barriers for setting up a company are low, it's important to understand the concept of an 'e-commerce' business, what's involved in getting started and the pitfalls to avoid.

Understanding e-commerce

Any transaction taking place over the internet can be classified as e-commerce.

Sometimes e-commerce can even take the form of a good or service being traded for another type of good or service.

As an online business, you may engage in e-commerce using traditional websites, social media channels, and mobile and tablet Apps (often known as 'in-app' purchasing).

Important points to consider:

  • do consumers need specialised software or hardware to trade with you?
  • are contract terms for purchases clear, accurate and easily accessible by consumers?
  • have you taken appropriate steps to protect consumers' privacy?
  • have you provided consumers with payment mechanisms that are easy to use and offer appropriate security?
  • are consumers informed about any specific laws or jurisdiction applicable to transactions with your business?

How do I sell my products or services online?

Will your online business involve buying or selling over the internet? While marketing strategies are a common part of many business plans, marketing and promoting your product or service over the web can be quite different.

Web-specific strategies might not be covered in a traditional business plan, so even if you're experienced in business, it's important to do further research into successful online marketing techniques.

Legal essentials for doing business online

Do I need to register my online business?

All business owners in Australia have to register before commencing any business activities. This may include registering one or any of the below.

Your business or company name

This step will involve deciding on the name under which you trade. Registering your business name will also give you a business number – this is separate to your ABN.

Your business name should be original and easily identified by your customers. Having a business structure in mind can help – are you a:

  • sole trader
  • partnership
  • trust, or
  • company?

If you're operating as a company, a different registration process applies than if you were a sole trader, partnership, or trust.

Your business domain name

Your domain name is the web address you will be using to trade online (also called a URL, or uniform resource locator). This usually incorporates your business name in some way. If you buy a domain name or build your own website, it could take the form of 'www.yourbusinessname.com.au'.

Alternatively, you could use an established web service that provides a hosting space for businesses, such as online marketplaces and storefronts.

Either way, you'll probably need to register this address.

Your business for taxation purposes

There are a variety of taxes that can impact on your business. You might have to register for:

Find out what these terms mean, and if they apply to you, go to the Australian Tax Office website.

Will I need a license or permit for my online business?

That depends on the product or service you're selling. You'll need to find out whether there's a licensing requirement for your particular business, or you may face fines or other difficulties.

Businesses selling products for consumption as food, for example, could need a Food Business Licence. However, there may be other licenses that aren't so obvious, so it's best to do some research into this area.

A great tool to help you get up and running is the Australian Business Licence and Information Service (ABLIS). Search ABLIS to find out which licenses or permits are applicable to your online business, or get a tailored business report.

Regardless of what you decide to do, running an online business can be a very efficient way to become successful in small business but there's a bit more to it than simply purchasing a laptop!

Checkout our listings here
Ab Assets/Broker Avatar

AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

Related articles

07/08/2025 by AnyBusiness
Running a small business in Australia is incredibly rewarding but far from easy.From juggling cash flow to dealing with rising costs and navigating red tape, many small business owners find themselves stretched thin.In fact, according to recent reports by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), economic pressures and staffing shortages remain top concerns across industries.If you're a small b...