A company is a legal entity formed and registered under the companies act 1956. If the company is a limited company, then it becomes an individual person in the eyes of the law.

Registering the proprietary limited company in Australia will cost $495. If you haven’t registered the company, then you will be regarded as a sole trader. If you are setting up the company or purchasing the existing one, you will figure out the start-up costs such as accounting fees, stock, furniture, staff wages, cash is required till you start earning from your business.

Setting up a company required cash so, you need to plan and forecast the expenses that will occur initially.