Business Name Registration - CapitalQ

Business Name Registration

The system for registering Business Names is now handled by ASIC, in replacement of the old State-based systems.

It has removed much of the flexibility associated with registering a business name and adds to the importance of getting it right.

First things first, if you want to trade using a name other than your own, you must register a business name. It is against the law to do otherwise. Not to mention a poor business practice as you have no protection over your name.

The name needs to be registered via an ABN, the right ABN

The registration of a business name takes on even great importance when there are unrelated parties involved in a business. In order for everyone’s rights to be protected, it must be registered correctly.

Some other key points to keep in mind

  • A domain name, is not a business name, holding a domain name doesn’t give you the right to run a business under that name
  • While owning the business name is important, the protections it provides your business has its limitations.
  • Don’t let your registration lapse, as soon as you do, someone else could pinch it out from under you

On the topic of domain names

With alarming frequency, we come across businesses that have the ownership of their domain names incorrectly structured. This is of major concern when there are unrelated parties involved in a business, so make sure you get it right, all your rights could be seriously in jeopardy.

Regardless, if your domain name is an important component of your business (as is the case for most businesses these days) if it is held outside your business structure, it could result in unforeseen tax consequences in places you don’t expect when you sell.

It could also find itself at the mercy of Creditors if it technically fell outside the protection of your business structure we worked so hard to secure.

On the topic of protections provided by registering a business name

A Trademark is much more protection than just a business name. Yes, there are costs involved, and of course, a solicitor is required in this regard. But we would encourage you to consider registering your Trademark and we can point you in the direction of good people who can help should you so desire.

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What our customers say

Logo for Craig Wilschefski

I was headed for ATO disaster... but thanks to CapitalQ we nipped it in the bud

I know everything there is to know about the services my business provide, and I know how to do it well and how to grow my business. But I know little about, and don’t want to know about, the tax and accounting and administrative side of things. As a result I was always behind, always struggling with paperwork and administration that I never came close to managing or getting on top of. CapitalQ worked with me to get my head above water, then to streamline that side of my business and manage much of it for me. A huge weight was lifted from my shoulders, my stress levels completely subsided and life was great. The result … an unsolicited buy-out offer for my first business (which I accepted) helping to set up financially me and my family for life. I have now started my second business, and they are doing it all over again. Business profits are growing, and I am once again fighting off suitors!
Craig Wilschefski

Craig Wilschefski

Founder and Director of Home Loan Republic and Finance for Fitness

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