A business name or “trading name” as it is otherwise known, is simply a name or title under which a person, or other legal entity, trades. Your business name is very important as it not only identifies you to your prospective customers, but, it also allows you to differentiate yourself from your competitors or other similar businesses. The right choice of name will enable your customers to connect emotionally with your business and brand. In many cases, the business name may become the most valuable asset of the business. When You Must Register If you are planning to operate your business as a sole trader, partnership or a trust then you are required to register your business name with the Australian Securities and Investments Commission (ASIC). If your business name is your, or your partner's, first name and surname, then there is NO need to register. For example:
John Stewart has a Consulting business named 'John Stewart'. As his business is trading under his own name, he doesn’t need to register for a business name.
Alan Stevens has a plumbing business named 'Steven’s Plumbing Services'. In this case as his business is not trading under his own name, he will need to register the business name 'Steven’s Plumbing Services'.
Once you register your business name you will need to Register for an ABN as this will be connected to the business name. The ABN must then be included on every invoice that you submit along with your business name. Link: Register Your Business Name *** NOTE: If you're trading as a company, you'll need to register a company name when you Register Your Company.