Register your new business name.
**Understanding ASIC’s Business Names in Australia**
When starting a new business in Australia, one of the crucial steps is registering your business name. This process ensures that your business operates under a name that is different from your legal name. In this article, we will explore the importance of registering a business name with ASIC and how to do it efficiently.
### Why Register a Business Name with ASIC?
Registering a business name with ASIC allows an entity to trade under a name other than its legal name. This is essential for businesses that operate under a name that is different from their legal name, such as sole traders, partnerships, or companies. The registration of a business name in Australia is mandatory if you conduct business under a name other than your own.
### How to Register a Business Name with ASIC
To register a business name with ASIC, you need to have an Australian Business Number (ABN). You can apply for an ABN and register your business name online through the Business Registration Service. Alternatively, you can use ASIC Connect if you already have an ABN.
### Fees and Payment Options
The fees for registering a business name with ASIC are $42 for one year and $98 for three years. You can pay using credit cards, BPay, EFT, or bank transfer. The registration process typically takes around 12 minutes to complete online, and you will receive confirmation within two business days for credit card payments and up to five business days for other payment methods.
### Managing Your Business Name
Once you have registered your business name, you can manage it through ASIC Connect. You will receive email and SMS notifications for any updates or changes to your registration. It is also important to display your business name and ABN on official correspondence such as quotes, invoices, and receipts.
### Tips for Choosing a Business Name
When choosing a business name, it is essential to ensure that it is available and not already a trademark or website name. You can use ASIC’s business names register to check the availability of your desired name. Additionally, consider registering a domain name and social media handles to protect your brand identity.
### Conclusion
Registering a business name with ASIC is a crucial step in starting a new business in Australia. It ensures that your business operates under a name that is different from your legal name and provides a professional image to your customers. By following the steps outlined above and using the right tools, you can efficiently register and manage your business name with ASIC.
**Best Practice: Register Your Business Name with Register.biz.au**
For a hassle-free and efficient business name registration experience, we recommend using “register.biz.au”. This service offers a comprehensive business name registration process, including a business name generator and email notifications for updates and changes to your registration. You can visit “https://register.biz.au” to get started today.
