At 16, it makes a lot of sense to learn as much about the biz as possible, and you have time to do it. Go for your dreams! No, A$40k is nowhere near enough, but it is great that you have put some capital together toward getting started. Keep adding to it.

If you are going for hi-end special occasion attire, you need to know a great deal about clothing construction, design, fabrics, etc. You need to know your merchandise. Do you sew? Great way to learn. Easy to start doing while you are still in school. Home economics class in high school? Sewing classes at a sewing machine dealer or fabric store? It’s a lot of fun, and what you learn will prove valuable.

For education, two routes will help: business management, especially retail & merchandising, and of course, a good design school where you will meet future designers, get to know current fashionable designers, etc. Connections!

Then, of course you must get experience in the biz. That’s the only way to learn how to research new designers (and evaluate their abilities & marketability), how to import & export, how to treat customers & learn what customers really want (the ultimate determiner of your success or failure), and build your reputation among the right clientele. Your rep is crucial to launch your biz when it comes time.

Have fun! You can have a very exciting and wonderful career, tho you really do have a very long way to go. Enjoy your process.