howdy all

doing some research and i came across this question. so, do i need any particular license or permits to start a business/label? i know you would need one if your are a manufacturer/contractor or possibly a council permit if you plan on producing stuff at home depending on what it is. But as a business/label you generally contract everything out. having a hard time finding info on it.

also am i required to get any particular insurance? my understanding so far is to make sure the contractor and courier service has insurance to cover water damage, fire and theft and so on.

the plan is to start from home and then find a studio later on when i can afford it. I can understand then that i would possibly need insurance to cover the studio and contents.

any help or links would be greatly appreciated!

cheers.

if you are going to have anybody coming to your workplace I would definately get public liability insurance. ANd if you are going to be holding stock at all, then I would be looking at getting insurance for that. And you need (obvious i know) an ABN.

ud be surpised ruru, most small stores (especially clothing) dont have public liability insurance. the cost of it is so much now that u marse well just wait till someone gets hurt and pay for their medical.

but insurance on stock is prolly a good idea

really? we have it here and we're a real estate agency. I guess the issue is that if anybody gets hurt on your premesis then you could be in for a lot that you may not actually have enough money to pay for it? but i guess ts a gamble you can take!

thanks ruru and browny. from the looks of it if i start from home theres no real mandatory insurance that i need to get, other than some contents insurance which i probably wont need untill i get a studio. any property insurance place will do yes no? public liability is getting a little out of controld now days.

can anyone in the industry enlighten me on license or permits i may need?

thanks again.

Post Last Updated:24.09.2007 at 01.20

the SBDC is very useful for all your questions.

all the legal, tax and financial issues as well ass all kinds of support

Also you could consider (if you haven't already) incorporating your business, that way the liability falls under the company rather than towards your personal assets. You could also contact ASIC for licences etc.

thanks D for the site.

yeah RJ it's registered as a proprietry limited so thats all sorted. i was at ASIC the other day to register it, never entered my mind ask to ask. also they got this stupid door entry system to get into the shop. i couldnt for the life of me figure it out from the signs on the door until someone showed me.

ok an update on what i have found out on my quest for others to know.

there is no real manditory insurance that you need to start a label. but it is what it is and so you can cover yourself with a small business policy from AAMI, in my case working from home. It covers agreed value for stock and equipment against Fire and Defined Events and Theft.

You also get the good old Legal Liability cover to cover your arse, say you accidentaly leave a pin in a sample garment and by chance someone gets injured by it. it also covers you outside your premisis for business trips which i thought was good.

You can also get an optional cover for Portable and Valuable Items, which covers laptops, cameras, mobiles, and the like that you take with you on business trips, local and to my surprise international.

As for licenses and permits, i still think i don't need one because i'm not manufacturing anything at home but i have still yet to confirm that.

hope this helps others out there.