Starting your own Speech Pathology Business
.Have you ever thought about starting your own speech pathology business?
Articles about
Starting your Own Speech Pathology
Business
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Motivations for starting your own business
When I talk to allied health professionals about what motivates them to become contractors or self-employed I hear a range of responses. The most common one is flexibility.
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Flexibility One of the perks of starting your own business is the flexibility it offers. You have the freedom to set your own schedule, choose your preferred therapy modalities, and cater to specific client demographics or niche markets. Whether you prefer to work part-time, full-time, in-person, or online, the choice is yours.
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Other reasons are:
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Autonomy As a business owner, you have full control over how you run your practice. You can design your own treatment protocols, and create therapy programs, that align with your values and expertise.
Financial Potential: While the primary motivation for becoming a speech pathologist is a desire to help others, it's worth noting that starting a business can also be financially rewarding.
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I've had several psychologists discover that working on their own earns them as much, if not more, than working as a full-time employee, enabling them to take on further study or spend more time with their young children without compromising their current lifestyle.
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In fact, with a solid client base, you have the potential to generate a stable income and build long-term wealth as a self-employed speech pathologist or as a practice owner.
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Personal Fulfillment Perhaps the most compelling reason to start a new business is the sense of personal fulfillment that comes from making a meaningful difference in people's lives. You may decide to set up catering for a niche that you're passionate about As your own boss, you're able to run your business in a way that's integral to you and your values.
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On this page you'll find articles, resources and tools to help you go about Starting your Own Psychology Business. ​
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Remember, we're here to support you. We have the financial knowledge and expertise to help you Start your Own Psychology Business, answer the questions that you have and help you grow it.
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​Practical Necessities for Starting your own Business
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1. Choose a Business Structure
Your business structure affects your legal obligations, taxes, and financial management. Common structures include:
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Sole Trader – Simple setup, full control, and lower costs but with personal liability.
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Company – Limited liability, separate legal entity, and more complex tax requirements.
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Partnership or Trust – Suitable for multiple owners with shared income distribution.
Register for an Australian Business Number (ABN) and, if applicable, a business name with the Australian Securities and Investments Commission (ASIC).
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2. Register for GST & Tax Obligations
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If your turnover is $75,000 or more, you must register for Goods and Services Tax (GST) and lodge a Business Activity Statement (BAS).
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As a sole trader, you’ll pay income tax on your profits and may need to make PAYG (Pay As You Go) instalments.
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If you employ staff, you must manage payroll tax and superannuation obligations.
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3. Set Up Business Banking & Accounting
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Open a separate business bank account to keep personal and business finances apart.
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Use accounting software (e.g., Xero, MYOB) to track income, expenses, and invoicing.
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Keep records for at least five years to meet ATO requirements.
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4. Secure Necessary Licenses & Insurance
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Speech Pathology Australia (SPA) Membership – Required for recognition by private health funds.
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Professional Indemnity & Public Liability Insurance – Protects against legal claims.
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NDIS Registration – If you plan to provide services under the National Disability Insurance Scheme.
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5. Define Your Services & Pricing
Consider your target clients (children, adults, disability services, aged care) and define your services accordingly. Research market rates and set pricing that covers costs while remaining competitive.
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6. Manage Your Finances & Cash Flow
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Budgeting: Track your revenue and expenses to maintain profitability.
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Billing & Payments: Offer secure payment options and manage invoicing effectively.
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Tax Deductions: Claim business expenses such as rent, equipment, and marketing.
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7. Marketing & Growing Your Business
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Create a website and establish a strong online presence (Google My Business, social media).
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Network with other healthcare providers for referrals.
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Consider branding & advertising to reach new clients.
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8. Balance Working On & In Your Business
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Working In Your Business: Client sessions, therapy, and direct service delivery.
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Working On Your Business: Marketing, finances, strategy, and compliance.
Allocating time for both ensures sustainable business growth.
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Resources for Employee Speech Pathologists
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Our Personal Finances Page also has a lot of useful information.
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Do you have any questions about finances or something that you'd like to talk through?
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We're here to support and advise you. Give us a call, send us an email or use our on-line form to book a time to chat.
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Accountant for Speech Pathologists
FREE
No-Obligation Meeting
Book a free, no-obligation meeting with us today and experience the difference of working with a team who truly understands the finance side of speech pathology.
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Meet us online
or
at our office
593 ANZAC Highway, Glenelg, South Australia.
We'll take the time to listen to your needs and work with you to build a path to success.
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Let us help you reach your financial goals and focus on what you do best - helping others.
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