Register your new business name.
**Company Register Fee: Understanding the Costs of Registering Your Business Name in Australia**
When starting a new business in Australia, one of the essential steps is registering your business name. This process ensures that your business operates under a recognized and distinct identity. However, before you begin, it is crucial to understand the costs involved in registering your business name, specifically the company register fee.
### Company Register Fee: What You Need to Know
The company register fee in Australia varies depending on the duration of registration. You can register your business name for either one year or three years. The fees for these durations are as follows:
– **One Year:** $42
– **Three Years:** $98
These fees include the ASIC Government Fee and your Record of Registration, which will be emailed directly to you once the registration is processed.
### Why Register Your Business Name?
Registering your business name is mandatory for all businesses that operate under a name other than their legal name. This includes sole traders, partnerships, and companies. Without a registered business name, your business may not be recognized as a separate entity, leading to legal and financial complications.
### How to Register Your Business Name
To register your business name, you will need to follow these steps:
1. **Choose a Business Name**: Brainstorm a name that reflects your business idea, is memorable, and easy to spell and pronounce. Ensure that the name is not similar to any existing business names or trademarks.
2. **Check Name Availability**: Use ASIC’s ‘check business name availability’ tool to see if the name is free to register. This step helps you avoid duplicating an existing business name or infringing on any trademarks.
3. **Apply for an ABN**: You need an Australian Business Number (ABN) before you can register your business name. If you don’t have one, you can apply for it online via the Australian Business Register.
4. **Complete the Registration Form**: Once your chosen business name is confirmed as available, you can complete the online application form on the ASIC Connect section of the ASIC website. During this process, you will need to provide details about your business structure and the business owner or owners.
5. **Pay the Registration Fee**: There are fees associated with registering a business name. These vary depending on whether you are registering the name for one year or three years. Once you have filled out the form, you will be prompted to pay the registration fee.
6. **Review and Submit**: Review all the information you have entered for accuracy, and then submit your application. ASIC will then review your application, and if approved, you will receive a record of registration and your company name will appear on the ASIC’s business names register.
### Conclusion
Registering your business name in Australia is a crucial step in starting a new business. Understanding the company register fee and the process involved in registering your business name will help you navigate the process efficiently. For a hassle-free and efficient business name registration process, we recommend using “register.biz.au” to register your business name today. Visit [https://register.biz.au](https://register.biz.au) to learn more about their services and register your business name today.