• Sole Trader (also called a "Single Proprietor"),
• Partnership,
• Trust, or
• Company.

• What sort of business you will establish.
  
  
• The expected income.
  
  
• The tax structure and how the business income will affect any personal income you have.
  
  
• What sort of personal liability you will have or are prepared to have.
  
  
• The value of the business's assets.
  
  
• Capital gains tax, if the business may be sold at a later date.
  
  
• Who the owners of the business are and their shared rights and obligations.
  
  
• Whether you will use your own name for the business or use a trading name.

Ultimately, you need legal and accounting advice about this to make sure you start on the right foot.

• Taken into account all the potential costs, including any government cost and the fittings.
  
  
• A realistic idea of the other financial needs of your business, particularly in the early days when it may have to be subsidised by your own savings or borrowings.
  
  
• Property researched the cost of finance.
  
  
• An idea of the other costs of running the business, for instance, the cost of utilities and insurance.
  
  
• Enough money to maintain your lifestyle until the business is self-supporting.
  
  
• A budget plan and a marketing plan.
  
  
• Understand any legal obligations that may be relevant to the business, e.g. company or tax reporting requirements.
  
  
• Checked with the local council that your business can be operated in the location you intend.
  
  
• Researched whether there are any employer or retail associations who can help before you begin.
  
  
• Checked whether there are any government grants on offer for the establishment of your business.
  
  
• Researched any technological innovations that could help (or harm with competition) your business.

• It is being used by another business.
  
  
• It offends public notions of decency, e.g. it is obscene.
  
  
• It might be confused with an already existing business, etc.

If you want to check that the name you have chosen is not already taken, have look at the Australian Securities & Investments Commission (ASIC) website, which shows all registered Australian names, company names and business names in every state and territory of Australia.