contract startup advice required.

Hi,
New to these forums, looking for some help.

I have been offered a contract for a small delivery run. The contract is paid to a company, of which I am yet to setup.

I have never run a small business before and have reservations because of unknowns.
I know that my "company" will be paid the same amount of money each week for as long as I complete my run.
I know that I need to supply my own 8.5 gvm truck. which requires me to have a MR licence.
What I don't know is -
Do I buy or lease the truck? I suspect lease. How do I go about finding a good lease company?
What insurances do I need?
Any advice appreciated.

Anthony97

 

Erm, you don't have the truck... it sounds like you don't have the license... you have reservations... why are you doing this exactly?

 

Thanks for your quick reply.
No, I don't have a truck at the moment. I'm thinking that leasing will be my best option.
I can get a licence by doing a course.
I am asking questions about the unknowns.
I am looking this as a way to build a better life for my family.

 

Insurance- workers comp, income protection, some sort of insurance incase you damage the goods you are carrying in your truck. Maybe public liability.

By the sounds of it you should go truck shopping and get yourself the required licence.

-Setup the company (probably pty ltd company)
-Setup up a seperate business bank account that everything gets paid into.
- find a company to pay your super annuation into