Do you need to register your business name?

Did you know that business names need to be registered with ASIC by 31 Oct 2018?
By 31 October 2018 all businesses will need to register their business names with ASIC in order to continue operating with it. ABN Lookup will only display business names registered with ASIC from this date.

So if you’re a sole trader, partnership or trust, and not a company, then you will have to register your business name with ASIC. If your business trades under your, or your partner’s, first name and surname, then there is no need to register.

For example:

Melissa Harvey has a coffee making business named ‘Melissa Harvey’. As her business is trading under her own name, she does not need to register for a trading name.

Jane Simpson has a floral business named ‘Simpson Flowers’. As her business is not trading under her own name, she will need to register the business name ‘Simpson Flowers’.

The registered business name will be connected to your ABN. If you are trading as a company, you’ll need to register your company name at the time of registering your company.

If you’re not sure how to register your business name, or if you even need to, visit this link to find out more.

Of course, if you have any questions at all, Oceans Accounting & Advisory can help. Get in touch for a chat.