Ten steps to starting a new tourism business

1. Define what you want to do, and why you want to do it. Do an initial feasibility assessment to make sure your business idea is likely to succeed. The NSW Department of State and Regional Development has a Business Check which provides some quick-and-easy steps to help you work out if your business idea is worthwhile.
2. Write down your business goals to be clear about what you are planning to achieve and realistic about your timeframes. Allow sufficient time to achieve each of your goals, especially to complete all the necessary tasks in setting up your new business. Setting up a new business, with all of the associated paperwork, policies, procedures and registrations will usually take a minimum of two months (full time) to complete, longer if you are also applying for finance.
3. Make sure you are personally suited to running a tourism business and check you have the ability, support and commitment to run a successful business:
   • Investigate what is involved in running the business.
   • Discuss your business idea with your friends and family.
4. Decide what type of tourism business you would like to set up. You may look to run more than one type of tourism business, for example running a tour and a campsite.
5. Research your business idea and make sure there is a demand for your proposed product.
6. Work out your insurance requirements and find out your legal and regulatory requirements.
7. Evaluate your financial position to see if you will need to borrow money.
   1. If you need to source additional funds, check out the funding options to find a suitable loan, grant or subsidy.
8. Compile your ideas into a business plan. If you need help writing your business plan see what assistance is available.
9. Sign up for the Indigenous Tourism Australia Newsletter to get regular updates, great ideas and useful information.
10. Set a date and make it happen. Download the New to business checklist and work through it to get your business up and running.