Starting a copywriting business is exciting, but navigating the financial and legal aspects can feel overwhelming. From choosing the proper business structure to understanding tax obligations, there’s a lot to consider.
In this episode, Andrew Nicholls, an experienced finance expert and business advisor, breaks it all down in a way that’s easy to understand.
Whether you’re just starting out or already running your copywriting business, this episode will help you make informed financial decisions and avoid common pitfalls. Andrew shares insights on when to register for GST, how to structure your business for success, what insurances you need and what deductions you can claim.
This episode is a goldmine of practical advice for copywriters and small business owners looking to take control of their finances and set up their businesses for success. Whether you're just getting started or thinking about growing, Andrew’s insights will help you navigate the complexities of business finance with confidence.
You’ll learn:
The different business structures available to copywriters (sole trader vs. company vs. trust)
Why you need an ABN and how to get one
What to do if you're freelancing on the side while working full-time
When you need to start charging GST and what that means for your business
The reporting obligations of a GST-registered business
When it makes sense to transition from a sole trader to a company
The key differences between a bookkeeper and an accountant (and when you need one)
What business expenses you can and can’t claim as a copywriter
The types of business insurance you need (and which ones you can skip)
Common rookie accounting mistakes that get small business owners into trouble with the ATO
When to start using accounting software like Xero and how it can help manage your finances
Bio:
Over 30 years’ experience in the Accounting, Business & Risk Consulting and Banking & Finance industries, Andrew has held executive positions at National Australia Bank, New York based consulting firm Stern Stewart & Co., and Macquarie Bank. These roles included many strategic assignments which extended his experience into the financial markets of the United States of America, United Kingdom, Republic of Ireland and Asia.
Andrew’s expertise is in advising businesses ranging from professional firms and family companies right through to SME’s and Corporates to assist in all manner of decisions to support strategic business growth.
In addition to his advisory and mentoring work with founders and leaders of Australian businesses, Andrew is Managing Director of Dellner Couplers Australia Pty Ltd, a global business operating in the Rail Industry in Australia, and a Co-Founder and Director of Commercial Syndication Technologies which operates in Commercial / Corporate Finance within the Australian Banking sector.
He is a Fellow of the Financial Services Institute of Australasia and an Affiliate with Chartered Accountants Australia & New Zealand.
Fun Facts:
Andrew is to be a first time grandparent in July
He used to play the pipe organ (very basic) and has had a “tinkle” on the organ at St Paul’s Cathedral Melbourne where his brother is Director of Music
Andrew was a ranked Victorian junior tennis player and once competed against a future Wimbledon M
