Starting a sole trader business

7 October 2025

Thinking of starting your own sole trader business? The Sole Trader Toolkit from the Ministry of Business, Innovation and Employment has all the basic advice you might need.

Not all businesses have to start big. Becoming a sole trader is a great way to become self-employed and to quickly get your business idea off the ground.

 

If you’re thinking about starting your own one-person business, the Ministry of Business, Innovation and Employment has some great resources to demystify the process and help you get set up as a successful sole trader.

 

Let’s take a look at the Sole Trader Toolkit and what it offers.

 

1. Becoming a sole trader

 

In the Becoming a sole trader guide, you’ll get the low-down on how to begin working for yourself. Setting up your own sole trader business is far less complicated than becoming a limited company. All you need to do is inform the Inland Revenue (IR) once you start working for yourself, so you can be taxed on the business profits you generate.

 

2. The Sole Trader Checklist

 

The Sole Trader Checklist has a full breakdown of all the key areas to complete when becoming a sole trader for the first time. This includes tasks like paying your income tax, managing your business expenses and dealing with goods and services tax (GST). It also has advice on paying Accident Compensation Corporation (ACC) levies, plus tips on invoicing and contracts.

 

3. Writing your sole-trader business plan

 

The Quick-focus business plan has a 10-step template for completing your first business plan. Having a plan is essential. It gives your new sole trader business a clear mission, some strategic goals and sets out the key numbers that will drive your finances and profitability.

 

4. Managing your finances effectively

 

Being in control of your finances helps you run a profitable enterprise and stay compliant with your Inland Revenue requirements as a sole trader. The Sole Trader Toolkit offers a Tax 101 guide to get you up to speed with self-employed income tax. It also has a guide for making tax time easier and a handy cashflow forecaster tool to help maintain a positive cashflow position.

 

Helping you build your sole trader business

 

If you’ve ever fancied being your own boss, our team is here to help you work out the numbers, get a business plan together and stay compliant with all the IR rules.

 

Book some time with us to talk through your business idea and your plan for the future.

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