Whether your business needs to register a Business Name ultimately depends on the specific circumstances of your business. Do you want to trade under the legal name of the entity, or trade under a different name?
Essentially, a business name is the title under which your business operates and interacts in the business world. The name of a business can be crucially important to the sales, exposure and success of your business.
If your business wants to trade under a name which is different to its legal name, then you will need to register a Business Name with ASIC, for example:
If you are a sole trader and your business name is your first name and surname, you do not need to register a Business Name with ASIC.
If you are trading under a name completely different to your legal name (ie the fruit stand), then you will need to register a Business Name with ASIC in order to trade under this name.
To register a Business Name:
Check if your desired name is available using the ABR Business Name Check & Australian Trade Mark Search
If your desired name isn’t available, try variants or a new name until a name is available.
If your desired name is available, register the Business Name through the Business Registration Service
The fees for a Business Name are currently (as of writing): $36 for 1 year, or $84 for three years.
At the end of whichever period paid for, you will need to renew the Business Name, or it will become inactive (ASIC will notify you 2 months beforehand).
Once a Business Name is registered, it will be connected to your ABN, and appear on the ABN Lookup.
Contact us at Dolman Bateman or Buildersbooks if you are looking for an experienced accountant or Bookkeeper.
This information is not to be relied upon without speaking to your accountant, tax agent or financial adviser depending on the advice