Register your new business name.
**How to Register a Business: A Comprehensive Guide**
Registering a business is a crucial step in establishing a new venture. In Australia, registering a business name is mandatory if you plan to operate under a name other than your personal legal name. This article will guide you through the process of registering a business name in Australia.
### Why Register a Business Name?
Registering a business name provides several benefits. Firstly, it ensures that your business name is unique and not already taken by another entity. Secondly, it allows you to operate your business under a name that is different from your personal legal name, which can be beneficial for branding and marketing purposes. Lastly, registering a business name provides legal protection and helps to prevent others from using a similar name.
### How to Register a Business Name
To register a business name in Australia, you need to follow these steps:
1. **Check Availability**: Use the Australian Securities & Investments Commission (ASIC) business names register to check if your desired business name is available. You can do this online or through the ASIC Connect system.
2. **Gather Required Information**: You will need to provide your personal details, such as name, address, and contact information. Additionally, you will need an Australian Business Number (ABN) or be ready to apply for one.
3. **Choose Registration Period**: You can register your business name for one year or three years. After the registration period, you will need to renew your business name to continue operating under that name.
4. **Submit Application**: Use the Business Registration Service or ASIC Connect to submit your business name registration application. The application process typically takes around 12 minutes to complete online.
5. **Pay Fees**: The fees for registering a business name in Australia are $99 for one year and $189 for three years, which includes the ASIC Government Fee and your Record of Registration.
### Additional Tips
– **Check for Trademark**: While registering a business name prevents others from using the exact name, it does not protect your Intellectual Property (IP) and brand. If you want exclusive rights to your business name, you will need to trademark it.
– **Display Business Name**: You are required to display your business name and ABN on official correspondence such as quotes, invoices, and receipts. Additionally, you should display your business name in a visible location at every place where you carry on business that is open to the public.
– **Renewal**: You will receive a renewal notice by email at least 30 days before your renewal date. You can renew your business name through ASIC Connect or the ‘Pay now’ service.
### Conclusion
Registering a business name in Australia is a straightforward process that can be completed online. By following these steps and tips, you can ensure that your business name is unique, legally protected, and easily accessible to your customers.
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