Starting your own business for the first time can be a very exciting step. However, before you are able to begin running your business according to your own business model and rules, you will need to legally register your business in the country of Australia. Not only is this required for tax purposes, but it is also necessary to legally establish your business name. And while the process of getting this done may seem daunting, especially if you are not sure which steps you need to take, the good news is that it can be a much easier and quicker process than you might think.
The first step to getting your business name legally registered in Australia is to come up with a name that is not already registered. You can check on names by speaking with the Australian Securities and Investments Commission, where they will be able to tell you whether or not a name has already been registered to another person. You can even check on this online by simply visiting their website.
Next, you can go through the actual process of legally registering your business name at Australia’s online business website. This only takes a few minutes, and it will secure the name of your new business so that nobody else can use it. If anybody does, you can hire commercial lawyers to sue them. When you register your company, however, it is also a wise idea to trademark your business, as these are two separate things.
Finally, be sure to register with your local administration boards, especially if you plan on running your business from a store front. Depending on where you live, there is a chance that you will have to pay for a business permit and set up tax information with your local city government in addition to the federal government. In doing this, you will be eligible to be taxed as a business. Once you have your permit, however, you will be all set to run your business. Keep in mind that different types of businesses may require different permits. For example, if you want to open a restaurant that serves alcohol, you will need a specific permit for that and it may cost extra.
Overall, registering your business does not have to be a daunting task. However, if you run into any problems along the way, be sure to employ the help of some business lawyers to help you through the process and get your business going.