New Business - Applying As A Sole Trader or Company

[GSS82]

Hi all,

I am currently working in childcare in Vic and looking to start/buy a childcare business. I did a little research and found that I need to have Provider approval followed by Service approval.

I was just filling out the form for Provider approval and couldn't decide if I needed to register my company for the form purpose. because this what I want in the future to run a business under the company structure. should I apply for provider approval as a sole trader first? is it possible to change it later on to the company structure? if I register a company now then it costs money to keep it active and I am not sure how long all this process will take to get all the necessary documents before I start looking to buy/start my own business.

I am so confused and need guidance if someone can help.

Thanks

[GSS82]

thanks to all 112 people that visited this post but haven't had any pointers.

[Butterflyblue]

Will often check in to share experiences, knowledge, skills etc to help out people in the ECEC sector as best I can
Appreciate that others might like to read only and that's ok too
Saw that no one had answered yet, was in the process of researching to help out a stranger on the internet but these two pointers seem better as 112 people didn't have any. Read the forum usage & policies and be a little more patient...

[Lilliput]

Hi GSS82,

How far are u though the process now?

[jimbomo]

I wish you good luck!

[jamesjoy]

thank you for the info!

[JoanEllis]

Hi all,

I am currently working in childcare in Vic and looking to start/buy a childcare business. I did a little research and found that I need to have Provider approval followed by Service approval.

I was just filling out the form for Provider approval and couldn't decide if I needed to register my company for the form purpose. because this what I want in the future to run a business under the company structure. should I apply for provider approval as a sole trader first? is it possible to change it later on to the company structure? I've already found some companies to get help; for example, here is the company which provides different fintech development services, and it seems to be worth working with. if I register a company now then it costs money to keep it active and I am not sure how long all this process will take to get all the necessary documents before I start looking to buy/start my own business.

I am so confused and need guidance if someone can help.

Thanks

Hello! Do you have an update of the business?

[veronicablogz]

Hi all,

I currently work in childcare in Vic and am looking to start or buy a childcare business. I understand I need Provider Approval first, followed by Service Approval.

I’m unsure whether I should apply for Provider Approval as a sole trader or register a company now. My plan is to eventually operate under a company structure, but I’m concerned about the cost of keeping a company active during the approval process. Can I switch to a company structure later on if I apply as a sole trader now? I've already found some amazing companies to get help; for example, here is the company which provides different fintech development services

I’m not sure how long it will take to complete the approval process and gather all the necessary documents before moving forward with starting or purchasing a business.

I’m feeling a bit overwhelmed and would appreciate any guidance or advice on the best approach.

[Lorina]

Hi,

I can't give you a direct answer however I will provide you with some information I have found. I would strongly recommend contacting your Regulatory Authority and Australian Childcare Alliance to help you to answer your questions too.

Here is the information I have found that may help:

Important Steps To Take When Changing Your Business Name Or Structure

,
Lorina

[Rockswave]

When I was in a similar situation, I went through the whole approval process, too. For your Provider approval, you can start as a sole trader, and it's totally possible to switch to a company structure later. That’s what I did! It gave me a chance to test things out without diving into extra costs right away.