So your business is doing well, and you’re thinking about the next big step. Maybe it’s a second location. Maybe an investor has offered to help you grow faster. Either way, it’s exciting, and it’s also the moment when a few quick signatures can shape your business for years.
Opening another site adds new commitments. Taking investment means someone else owns a slice of what you’ve built. The good news is that a little planning upfront makes these decisions much less stressful. Here’s what to think about before you commit.
Decide Who Owns and Controls the Next Stage
Growth often changes who gets a say in your business. Before you talk terms with anyone, get clear on how much control you want to keep and which decisions you’re happy to share.
Treat Investment as an Ownership Decision
According to business.gov.au, equity finance means getting money in exchange for part ownership of your business. In other words, it’s not just funding. It’s a new co-owner.
Say an investor offers to fund your second location in return for a minority stake. Before you say yes, ask a few simple questions:
- Does the investor get a vote on big spending decisions?
- Who runs the business day to day?
- What happens if one of you wants to leave?
Every deal is different, so settle these points with your advisers rather than assuming they’re standard.
Check Whether Your Structure Still Fits
The structure you set up years ago may not suit where you’re heading. Business.gov.au notes that a company is a separate legal entity and comes with more reporting and legal duties than a sole trader business. Becoming a company might make sense for growth, but it brings extra responsibilities, and changing structure can affect your tax. So bring your accountant into the conversation too.
Go in With a Clear Brief
Before your first meeting with an adviser, pull together the proposed deal, your current ownership documents and a short list of decisions you want to keep control of. Add any open questions about management roles, voting rights or how an owner could exit. It saves time and money.
Make Growth Agreements Clear Before Signing
Growth usually means new agreements: a lease for new premises, a bigger supply contract, a franchise deal or even buying another business. It’s easy to focus on the upfront price, but the ongoing obligations matter just as much.
Get the Right Support for Bigger Deals
Some growth moves are complex enough that you’ll want an experienced team beside you. If you’re expanding in Western Australia, HopgoodGanim commercial lawyers in Perth work with private companies, investors and business leaders across acquisitions, transactions, governance, financing, structuring and commercial negotiations. Ask for a plain-language summary of every obligation you’d be taking on, so nothing catches you by surprise later.
Turn the Fine Print Into Everyday Terms
Ask your lawyer to explain, in plain language, who supplies what, when payments are due, how changes get agreed and what happens if the deal ends early. If a clause doesn’t make sense, say so. It’s far easier to change it before you sign than after.
Know Your Protection Against Unfair Terms
Here’s something many business owners don’t realise. Under the ACCC’s unfair contract terms rules, a business with fewer than 100 employees or annual turnover under AUD 10 million may be protected from unfair terms in standard-form contracts. These are usually the “take it or leave it” contracts you can’t really negotiate. Ask whether these protections apply to your agreement.
Read the Premises Agreement Closely
Whether you lease or buy, business.gov.au recommends getting legal advice before signing. For a lease, check:
- How long the term runs
- What renewal options you have
- Who pays for fit-out and repairs
- What it costs to leave early
Look at these costs alongside the rent. A cheap rent with expensive exit costs might not be a bargain.
Look Carefully Before Buying Another Business
Buying an existing business can be a fast way to grow, but you need to know exactly what you’re getting.
Do Your Homework First
Business.gov.au recommends reviewing a business’s financial records, operations and legal documents before you commit. This is called due diligence. It’s your chance to check that what you’ve been told matches reality. Skipping it can be costly, and some deals reveal hidden legal risks that only surface during an acquisition, well after the excitement of the handshake.
Check Whether the Deal Needs Approval
Since 1 January 2026, Australia has had a mandatory merger control regime. That means some acquisitions must be notified to the ACCC and approved before they go ahead. Not every deal is caught, and exemptions or waivers may apply. Have this checked before you agree on a completion date.
Check What Changes When You Add Staff
More locations usually mean more people. Before you hire, confirm which employment rules apply and what each new role will really cost.
Find Out Which System Covers You
In Western Australia, two employment systems operate for private businesses: the state system and the national system. The WA Government explains that which one applies depends on your business structure. Sole traders, unincorporated partnerships and some trusts are generally in the state system. Check based on the entity that will actually employ your staff, not just your trading name.
Get the Pay Rates Right
For employers in the state system, WA award pay rates rose by 4.75% from the first pay period starting on or after 1 July 2026. If you’re in the national system, check the rates that apply to you through the Fair Work Ombudsman. Confirm the correct rate for each role before you advertise it.
Put Expectations in Writing
Bring the details of the employing entity, the proposed roles and hours, and any existing contracts or policies to your adviser. A lawyer can check that your employment contracts match the right system and clearly set out what you and your new staff can expect.
Conclusion
Growing a business is one of the most rewarding things you can do, and it deserves a solid foundation. Get clear on ownership and control before taking investment, read every agreement for its ongoing obligations, check any acquisition thoroughly and confirm the right employment rules before you hire. A few careful conversations now can save you a lot of stress, money and second-guessing down the track.
FAQs
When should I get legal advice about growing my business?
Early, while terms are still being discussed. It’s much easier to change a contract, lease or investor deal before you sign it.
Do I need to change my business structure to grow?
Not always. Changing structure can bring extra duties and tax effects, so talk it through with both a lawyer and an accountant first.
What should I bring to my first meeting with an adviser?
Bring your existing agreements, ownership details, a short summary of the proposed change and a list of decisions you want to keep control of.
Does every business purchase need regulator approval?
No. Only some acquisitions must be notified, and exemptions may apply. Have the deal checked before you set a completion date.
