MilbaDjunga Smart money- How can I start my own business?

Section 2

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In this stage you will:

  • identify how money comes into your community

  • think about what businesses there are in your community.

  • look at the definition of some terms you will come across producers, consumers, expense, revenue profit and loss.

portrait of Tash and Sam, Indigenous girl and boy

Sam: I really did not know there were so many ways to get money

Tash: Yeah there are heaps but did you know that some people make more money than others.

Sam: Yes, I reckon there are people around the community that earn heaps of money. The person that owns the local shop has a bit of money,

Tash: I wonder where the shop owner get all his money from?

Sam: He gets some of his money from me, Tash, I just love the chicken wings they sell. I spend a lot of money on food there, all the time.

Tash: I wonder… what are the other local businesses in our community? Hey what about your mob out there? Can you think of the local businesses in your community too?

a variety of businesses, a bus, a shop, a hospital, a service station

There are many ways that money can come into your community. Are there outside sources that bring money into the community – hospital, store, servo? Do any tour groups come through your community? What are the organisations or businesses that employ the most people within your community? Is the money coming into the community from Family Services or Council employment or any other sources?

Classroom activity: How does money come into our community? (.pdf 266kB) Arrow icon linking to an activity

Local businesses bring much money into communities. Find out what businesses are within your community by filling in this small questionnaire. You can do this by yourself or with a small group.

Classroom activity: Small business survey (.pdf 184kB)Arrow icon linking to an activity

Now for some terms that you will come across when you are setting up your own business.

Click on the images to learn more.

Producers and consumers

tractor, store and shopping trolley connected by arrows

Expenses and revenue

Wood, boomerang and coins connected by arrows

Profit and loss

A zig zag arrow on a graph and coins

Activity: Expenses and Revenue (.pdf 2MB)Arrow icon linking to Expenses and revenue activity

Activity: Profit and Loss (.pdf 1MB) Arrow icon linking to Profit and loss activity

Wood, boomerang and coins connected by arrows