Why Do I Need to Register a Business Name?
2020 has been a rough year for most people relying on a single source of income. That’s why many Australians are thinking of starting a home business or even a side hustle. There are many opportunities out there, and a worldwide market if you identify the right niche. Say, you have found an opportunity, what next? Registering a business name is the smartest thing you can do after identifying an opportunity and the market. It comes with a host of advantages, and it is a legal requirement in Australia if you are not trading under your own personal name.
What if you can register a business name easily online from only $66 per year? Namecorp has teamed up with several government departments and tech partners to make it easy for any Australian to register a business name and start exploiting lucrative opportunities out there.
Business name vs domain name
Do I have to use my business name as the domain name? Yes, it is recommended that your business name be the same as your domain name.
This is the legal name that you will operate under. It is the one you will use in your legal dealings in tax and other interactions with the government. It is also the name that will appear in the contracts you sign. A business name should identify closely with your industry. If you are selling baby clothes, for example, a good name would say Happy Tots Fashion.
This is the most valuable asset in your business because you will build a brand around it and popularise it to the world. Namecorp will help you register a business name, domain name and acquire an Australian Business Number (ABN) which is used for tax purposes.
This is the name that you register for your website. It is advisable to make it simple and easy to remember e.g. happytots.
Why do I need a business name?
Trading without a business name exposes you to all kinds of financial and legal risks. Here is why you need a business name;
- A business name is a name or title under which a person or entity conducts a business. If you are operating or planning to operate a business, and you are not trading under your own personal name, you are legally obliged to register a business name.
- It identifies you to your clients
- It protects your rights legally. You can sue other businesses or clients who breach contracts e.g. refusal to pay for goods delivered
- It establishes your brand, which is your reputation in the world of business
- It establishes familiarity which creates trust and customer loyalty, for example, Google
How do I register a business name?
Namecorp makes it very easy to register a business name in Australia. You can do it instantly online. This happens in 3 steps;
Step 1: Check business name availability
You cannot register an existing business name. It calls for a bit of creativity since millions of businesses have already been registered in Australia. Namecorp has a free business name search tool you can use to search for the names you come up with. You can search as many names as you want. Ensure to get the spelling right because once a name is registered, you cannot change it.
Step 2: Fill out your new business application
This application is entirely online without any messy paperwork. Carefully review the details before payment and submission. Namecorp will automatically process your application with all relevant government departments. You will also receive an email confirming receipt of the application. The total cost starts from only $49 per year.
Step 3: Receive your business name
Your business name will come to your inbox within 48 hours. If you applied for an ABN, it will also land in your inbox instantly. We will also deliver your preferred domain name if you applied for one.
Why register a domain name?
- Online presence – You need to have an online presence unless you are running a very local enterprise. A domain name is your entry point to the internet. It is what anyone anywhere in the world will use to find your business online.
- Communication – Your website will be a communication platform. A domain name comes with an email e.g. email@example.com on which potential clients can do sales enquiries. The website will also connect to your social media handles e.g. Facebook and Twitter for more engagement with potential clients on these social media platforms
- Search engine exposure – An estimated 91% of people looking to buy stuff online will first search on the internet, most likely on Google. You need these search engines to find your business online and give your brand exposure to billions of potential customers
- Marketing and promotion – You can easily highlight your products or services by creating sub-domains for specific products. You can also create a blog to highlight your product’s features in more detail, and explain why your products are superior to others in reviews.
Why use Namecorp to register a business name?
A business name application has legal and financial implications. This is more so in tax related matters where you could mistakenly establish a higher tax liability than you are liable to pay. We have experience in dealing with the Australian Tax Office and the Australian Securities and Investment Commission so that your financial and tax details are properly taken care of.
Bundled support package
Doing business online requires setting up different services for data management, customer relations, productivity and payments. We have partnered with different business tech providers such that your business is up and running in a short time. This is crucial if you are not very good with technology. Some of our tech partners include;
- Xero – This is an accounting software provider for small businesses which makes accounting easy even for people without a financial background
- Zendesk – This is a customer support platform that will help you deal with customer enquiries, complaints and other customer support issues
- Stripe – This is a payment processing service to help you take payments from credit cards, bank accounts, mobile payments and so on
- WOTSO – This is an office service provider. You can set up your physical presence in their space without incurring costs for setting up your own office.
Ready to register a business name? We are here to help with 24/7 support.
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