Register a Company in Australia: What You Need to Know
Do you find yourself asking whether you need a business or company name? It's an important question to ask when starting a business in Australia.
Choosing a name for your business is essential for success. In the land down under, every business must have a registered name. However, a company can run a business without a registered business name.
Let's look at the subtle difference between a company and a business name and learn how to register a company in Australia.
What is a business name?
A business name is the title of your business activity. It is the name that will identify your products or services. The Australian Securities and Investments Commission (ASIC) requires a business with a business number for every commercial activity.
For example, you want to sell arts and crafts. So you head out and find a good place to display your stuff. People learn about your business and start identifying your items with your name. That name that your customers came to identify you with is your business name.
What is a company name?
A company name identifies a separate legal entity that owns a business. When registering a company in Australia, you need to think of the structure of the business you want to operate. You can have several business names under one company name.
Registering a company name gives you an exception from registering a business name. A company can operate a commercial activity under its legal name or with a different business name. You can think of a business name as one brand your company owns.
How to register a company in Australia?
The subtle difference between a business and a company name is that a company can own several business names. There are also certain exceptions to registering a business name. You need to pay attention to the structure of business operations.
To register a company in Australia, you'll need the following:
A unique name for your company
At least one director based in Australia
At least one shareholder
Personal information of all parties involved
A physical Australian address
When you have a registered company name, you can run a business under its name or register a different business name. A business name must be registered if it is a name other than the company name. Seek expert help if you need assistance registering your business name.
Final thoughts
The name you choose has a lasting impact on your business. There is a thin line separating a business name from a company name. It's easy to get confused. Understanding the difference helps you decide on the right name for your company.
If you're not sure whether to register a business name or company, don't hesitate to ask for help. A friendly team at EasyCompanies is waiting to come to your aid.
EasyCompanies is a company that's one of its kind. They provide expert advice and support for business name and company registration. They make the registration quick and easy. Contact them if you need help registering your company in Australia.
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