Do I need an ABN to register a business name?
Getting a registered business name in Australia is only one step in getting your business off the ground, and it can't be your first. You first need an Australian Business Number (ABN) to register your business name. This unique 11-digit code identifies your business and is necessary for completing certain government documents.
This blog will detail what an ABN is, why you need one, and how you can set one up.
What is an ABN?
An ABN, or Australian Business Number, is the national identifier of your business. It's used by organisations when interacting with government departments and agencies for reasons such as:
- Ordering and invoicing
- Claiming goods and services tax credits
- Getting an Australian domain name, and most importantly;
- Getting your business name in the Australian Business Name Register
Why do I need an ABN to Register My Business Name?
When you register your business name, the Australian government needs something to connect with that business name. Because there are several different possible business structures, from sole traders to large scale companies, it's essential to make sure that all organisations have a single connecting factor in identifying them before their business name is registered.
How to Register an ABN?
You can register your ABN at the same time as registering your business name. You can complete this process through the Australian Securities and Investments Commission (ASIC) or a private services provider like NameCorp.
When working with ASIC, you'll be required to fill out a series of documents through the Australian Business Register. If you've never registered an ABN before, this process can be somewhat unclear. While there may be a small additional cost, working with a private services provider like NameCorp can help you make sure the ABN registration process goes smoothly and without error.
Our NameCorp business experts have decades of experience working with ASIC and the Australian Government. If you're an Australian business looking to get your business name or ABN registered, we can help you get it done quickly, smoothly, and with no messy paperwork required.
What is the ABN Set Up Cost?
Registering your ABN is a free process. With that said, it can also be complicated if you've never done it before, and any errors can result in a substantial amount of additional waiting time once you're done.
For this reason, we recommend you work with a private service provider who can complete the process for you with only a small additional fee.
Starting a small business isn't easy. Luckily, you don't have to do it alone. NameCorp can help you get your business ready and off the ground. With business name and ABN registration, trademarking, concierge services, and free membership to Business Australia, we can help you.
How Long Does an ABN Take to Approve?
Working with a private services provider who has experience working with ASIC can help alleviate these risks. Business name and ABN registrations can take a long time and a substantial amount of messy paperwork.
NameCorp can help you cut through the complexity, registering your business name quickly and answering any questions you have along the way.