Setting up your business: working as a provider under the NDIS

When starting your business as a provider, one of the first points to consider is your business structure. This involves being a self-employed contractor or service provider. The way you structure your business has a direct reflection on taxes and income (examples include sole trader or company). It is recommended that you discuss your business structure options with an accountant before getting started. Following this, there are responsibilities of self-employed providers or private practice owners under the NDIS and it is worth learning and planning for these ahead of time. Let's explore some of the areas you will need to consider:

Step 1: Getting ready

To get ready for the NDIS (prior to registering), it is recommended that you:

  • Decide how you will offer your services (sole trader, or company for example)
  • Decide the scope of your practice (what services you will offer and where)
  • Start to make a list of your relevant industry experience and update your resume
  • Apply for an ABN (Australian Business Number)
  • Decide on your GST status (you will be able to choose if you register for this based on your predicted income)
  • Arrange appropriate insurances (including public liability and professional indemnity insurance)
  • Ensure you have up to date National Police Checks and Working with Children/Working with Vulnerable People Check
  • Understand your superannuation requirements
  • Understand your taxation requirements based on your business structure
  • Decide how you will record the work you are going to provide
  • Decide on your prices and conditions you will negotiate with your clients
  • Decide how you will issue invoices and manage your income
  • Develop a privacy policy
  • Develop a complaints policy
  • Understand what supports and equipment can be funded under the NDIS
  • Develop a business plan that outlines your vision, goals, services/products, financial projections, and marketing strategies.

Next time, we will look at the information you need to have ready when registering as a provider.

Planning, Client Base, NDIS

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