If your business name expires, you could lose some of the marketing and branding benefits that come with having a professional name. In fact, without a current business name, you may not be covered by most types of trades insurance.
There are a few things you can do to protect yourself against the risk that your business name will expire. The first is to make sure that you regularly check your business name registration status with Registration Pty Ltd. If your name is registered, you’ll receive an email notification informing you that it is about to expire. This gives you time to renew your business name before it expires. You can also be proactive by renewing your business name every year, or even every three years to save a little extra money. Also make sure to check with your insurance provider to ensure that your insurance will still be valid after your name expires.
You should also make sure that all of your employees are aware of the importance of keeping your business name up-to-date, so that they can also take steps to protect their business and customers in the event that your company name becomes invalid. It’s important to have an up-to-date name because it helps keep your operations running smoothly and provides your customers with the peace of mind that comes with knowing that they’re doing business with a reputable business.
Step 1 – Check your name with Registration to find out if it’s registered and what its last date of registration was. You’ll need to enter your Australian Business Number check the status of your registration. If your name is already registered, you’ll see the expiry date in the search results. If it has expired, you’ll see a message on the screen that says “Registration expired” along with instructions for renewing your registration. You can register for a new business name in around 12 months of your old business name expiring, so be sure to take action quickly if you need to register a new business name.
Step 2 – Make sure to register your new business name as soon as possible after your former business name expires. This can be done quickly and easily online through Registration. It only takes a few minutes to register your business and you’ll be able to start using your new business name right away.
Step 3 – It’s always a good idea to check with your insurance provider to make sure that your insurance covers your new business once the name change is complete. In most cases, this shouldn’t be a problem, but it’s worth checking just in case!
Step 4 – If your business name change involves a product or service variation, make sure to update any references to your products or services on your marketing materials, website and other business communications. This will help keep your business information and contact details accurate and up-to-date, which will help your customers find you easily when they need your products or services.
