Multiple Businesses

[bradhardinge]

Hello, I was just wondering if I could get some advise and information from you guys about being part of more than 1 business. First off whether your allowed and what implications it has?

I am already a Sole Trader in Victoria, Australia and a friend and I wanna partner up over a new business venture. Any advise or information or stories of experience would be great!

Thanks,

Brad Hardinge

[zivo]

Hi... unless you have signed a non-compete or any other document with someone or an employer that you cannot work for any other business, then legally you can.

And with regards to being part of multiple businesses, I would strongly recommend that you keep everything separate, from email to credit cards, so that you can easily measure and track the activity and costs related to both.

mp/m

[beley]

I have owned as many as 4 businesses at one time, some with partners. Being a principle or owner doesn't neccessarily mean you have to be at work 9-5.

I currently own a web development company (sole), an e-commerce retailer (partner), a local newspaper (that I'm selling), and I have several ventures starting this year which will probably lead to two more businesses.

Definitely keep everything seperate and accounted for. It gets more complicated when you have multiple business entities, but it's a lot easier when you keep everything filed and documented.