We all know how important the name of a business is. Your business name conveys the first impression of what your business is about, be it serious and professional, or fun and funky, homely and traditional, or cutting-edge and high-tech. It needs to work across all mediums, including your website, marketing, packaging, and signage, it needs to be original, recognisable, future-proof, easy to pronounce and, in most cases, entirely uncontroversial. For obvious legal reasons, though, it also needs to be unique.
You can’t set up a software company called Microsoft or a coffee-shop called Starbucks and expect to keep your house for very much longer, due to copyright infringement. For this reason, it is essential to find your own unique brand and register your Australian business name with us at Registration. We are an ASIC Registered Agent for the Australian Securities & Investments Commission (ASIC). In Australia, you can register your business name for a period of one or three years, after that it must be renewed or you will lose the legal right to that name, and probably won’t be covered by your business insurance anymore, and worse still, someone else may acquire it.
Fortunately, the process for renewing your business name is as easy as apple pie, in fact some would argue many orders of magnitude easier.
The easiest way to renew your business name is through us here at Registration. Simply phone us during business hours on 1300 060 660 and we’ll be happy to help. Or you can find out more information at the front of our website.
Business Name Renewal Direct through ASIC
If you don’t want to renew your business name through us, you can do it at The Australian Securities & Investments Commission. They offer two options for renewing your own business name through their website. The first is called ‘Pay Now’. All you need is your account number (as shown on your renewal notice) or your Australian Business Number (ABN). Please note that you can only enter your ABN if it’s listed against your business name on the Australian Business Register (ABR).
Then just follow these steps:
1. Select the Pay now – business name renewal link on the right hand side of the screen. This will take you to the secure online payment service.
2. Enter your account number or ABN – you can find your account number on your renewal notice.
3. Select your business name from the list of results.
4. Select your renewal period (one or three years).
5. Check that the information displayed is correct and declare you are authorised to renew the business name.
6. Make payment – you can pay your renewal fee using a credit card (MasterCard or Visa). Alternatively, you can request an invoice and pay later through BPAY or Australia Post.
7. You’ll receive an ASIC message confirming your renewal has been submitted.
They’ll then update the Business Name Register with your next renewal date.
There’s also another option available through the ASIC website directly and this is known as ASIC Connect.
You’ll need to set up your ASIC Connect account beforehand, but from then on, the process is even easier than the Pay Now option.
1. Go to ASIC Connect and log in to your account – when you log in for the first time, you’ll be prompted to add any existing business names to your account.
2. Select the Lodgements & Notifications tab at the top of the screen then select your business name. This will display all business names linked to your account. Select the button to the left of the business name.
3. In the transaction column, select Renew business name and then select Go.
This will start the transaction.
4. Choose your renewal period (one or three years.)
5. Review your transaction – check that the information displayed is correct.
6. Make declarations – read the declaration to ensure you agree with the conditions of the transaction.
7. Make payment – you can pay your renewal fee using a credit card (MasterCard or Visa). Alternatively, you can request an invoice and pay later through BPAY or Australia Post.
8. You’ll receive an ASIC message confirming your renewal has been submitted.
They’ll then update the Business Name Register with your next renewal date.
Private Service Providers
You might be offered Business Name Renewal services by a private service provider, such as an accountant or solicitor, or by us at Registration. Using a private service provider is optional. If you choose to utilise their services, they will usually charge a fee beyond what ASIC would charge. That said, if you already have a working business relationship with someone who handles much of that kind of stuff for you, you may wish to take this option. Just be aware that the fee for doing it through a private provider is a little higher than doing it all yourself, but many feel it’s worth the time and hassle saving.
You can easily renew your business name today with us at Registration by phoning 1300 060 660 or following the information on our business name renewal homepage.
