Australia 457 Visa and starting a business

Hi everyone,

I am currently in a situation where I am on a Protected content Visa (long term) in Australia for a local subsidiary of a German company.
(Moved from Germany to Perth in September Protected content
As an investment I would like to start a company/partnership, etc. with a friend next to my job. It will target low cost housing in suburban areas.
We are now looking into the opportunities and restrictions. One of the key factors is my Protected content and the living away from home allowance (LAFHA) I receive, which is a significant amount I'd prefer not to loose.
Therefore I would like to ask if anyone has experience with that in Australia?
If you live in Perth, I am more than happy to meet you for lunch or some drinks.

I know I cannot be employed by another company holding a 457, but maybe there are ways to get around the need to be employed by the company we found.

Cheers,
Chris