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    Checklist for Starting up a New Business in New Zealand

    Starting a new business in New Zealand is easy to do. Starting up a successful business is a bit trickier. Network NZ are experts in the field of setting up new businesses. Not only do we have the professional business experts ready to help you, but we also have this handy checklist for you to use. It contains all the questions you will need to answer, as well as all the jobs you will need to do before you start selling your products or services. Ready to start? Let’s go!

    Checklist for Starting Up a New Business

    You’ve got a great idea! You love it. Your friends love it. Your family loves it. But will the public love it and want to buy it? That’s why the first thing you will need to do is answer these questions:

    1. Will it fill a gap in the market?
    2. Will it solve a problem or fill a need?
    3. What is your unique selling point?
    4. Who is your dream customer?
    5. How much will it cost to set up, verses how much income it will bring you?
    6. Who is your competition?
    7. Will anyone be in direct competition with you?
    8. How easy is your idea for them to copy?

    Next comes the list of jobs you’ll need to get done before you start selling.

    1. Check your proposed business name is not being used by anyone else. You can do this by doing a Google and social media search, as well as through the Ministry of Business’ One Check tool. As well as registered business names, it also searches for trademarks and domain names too. If the name of your new business is used, you are better off to create a new one.
    2. Get a website. Relying on social media to sell your products or services just doesn’t work. They are a tool to help you get people to your website, which you then use to sell from. We recommend using Little Biz Online who offers a great DIY package if you would like to do it yourself or can do it for you.
    3. Create a logo. While you can create your own logos using online software, a professionally designed logo gives a far better first impression. We have many fabulous Graphic Designers who can do this for you quickly and affordably.
    4. Set up social media accounts. In New Zealand, the main social media platforms people are using include Facebook, Pinterest, Google+, LinkedIn and Instagram. Twitter is used mostly by businesses which sell to overseas markets.
    5. Obtain your stock. Asking another business who their wholesaler is or how to make their products yourself is not the way to go. Instead you’ll need to do lots of researching yourself online, as well as product testing. It is a good idea not to keep too much stock on hand initially. This keeps your costs down and lets you learn what sells best before ordering large amounts.
    6. Hire staff if needed. If your business has a walk-in shop, chances are you can’t manage that by yourself all the time. Hiring an employee is a major decision, so make sure you ask the right questions before giving them the job.
    7. Make sure you know how you are going to keep a record of all your income and expenses. Set up a separate business bank account. Know what you can claim and know when you'll have to file returns.
    8. Join Network NZ. We are an absolute goldmine of helpful and free information for new and potential business owners,

    We’d love to help you out! Come over and join our FREE business support group before you even start your business. It’s a great no-risk chance to learn everything you need to know in safe and welcoming environment.

    Did we miss anything? Please add it in the comments below!

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