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Can A Carpenter Start Their Own Business?
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Are you a skilled carpenter looking to start your own business and take your earnings to the next level?
Carpentry is a great career path for creative individuals who love working with wood and building things from scratch. And with expected job growth of more than 8% over the next five years, the profession is one of the most in-demand trades in Australia.
So, if you have the skills, why not start your own business?
If you’re wondering if you can start your carpenter business in Australia and what it takes, read the short guide we put together for you below.
How To Start Your Own Carpenter Business
Qualifications and License
If you already work as a carpenter for an employer, you probably have a certification, whether it be a Certificate II in Building and Construction (Carpentry), a Certificate II In Construction Pathways, or a Certificate III In Carpentry. You probably also already have a Construction Induction Card (also called White Card) which is a requirement for anyone working on construction sites in the country.Â
Now, while a certificate II or III in carpentry and work experience, including apprenticeship, allow you to hone your carpentry skills, if you want to become a business owner, you’ll need to enroll for a Certificate IV In Building And Construction. This course is designed to equip you with the tools you need to run a successful business in the carpentry space.
Also, you’ll need a license to supervise and work on projects over a certain value. For instance, in Victoria, you won’t be able to work on projects over $10,000 if you don’t hold a license. In NSW, the amount you can charge without a license is $5,000. So, research your state requirements and apply for the license before getting started to avoid any trouble down the line.
Choose Your Business Structure And Apply For An ABN
Once you’ve gained all the necessary qualifications and hold your license, it’s time to decide what business structure you will operate under. If you want to work on your own, a sole trader business could be the best option. However, a partnership might be more appropriate if you plan on working with a partner. Discuss the options with your accountant to find the best structure to suit your needs and vision.
Once you’re set on a business structure, apply for an ABN or ACN, depending on your chosen structure.
Insure Your Business
As a Carpenter running their own business, you can be held liable if an incident happens with your clients.Â
For instance, let’s say you’ve worked all day in a client’s house and are exhausted. You inadvertently leave one of your tools on the floor. As the client comes to inspect your work at the end of the day, they trip on the tool and injure themselves. They could make a claim against your business for negligence, and you could be held liable. That’s why to protect your business against claims and legal action fees, you should invest in a good insurance policy.
To find the best policy for your needs, jump on our free instant quote generator, where you can get an estimate on market-leading insurance in seconds.Â
Simply enter your occupation and expected revenue to get started.
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