Your business name is your identity. It is what differentiates you from your competitor and the nucleus where you can build your brand around. But it is also crucial in the sense that it would be the unique identifier by which the government can recognise you for tax purposes and other matters.
For the most part, mom-and-pop stores use a combination of names of couples or their children. However, you need to be quick when you register business name because somebody else might have already taken it. You end up settling for a corruption of your original name or an abbreviation that you do not like.
Here are some questions to guide in your search for a business name in Australia:
- What type of brand are you trying to build?
- What type of image do you want to convey to your target consumers?
- Are you using another language that could not be easily understood? If so, how do you plan to make it a trademark?
- Are there some offensive terms there that could backfire on your brand?
- Is your original name already taken? If so, what are your alternatives?
It is recommended that you have shortlisted five names by order of preference. In that way, you will have a backup if the first one or two is already reserved for another company.
When you want to register business name, it is advisable to make it easy to recall. For example, you can ask 10 Australians on the street and you will find three or four of them stumble on the spelling of these retail brands:
- Stella Artois
- Yves St. Laurent
- Louis Vuitton
- Comme des Garcons
- Audemars Piguet
While they are renowned brands today, it took them a long time to get to where they are. Do you really have the patience and resources to play the long game to establish your own name?
Registering Your Business Name in Australia
When you have decided on your business name, the next step in the process is to register it. There are two options you can take:
- Register the business name yourself using the web portal of the Australian Government
- Get a professional to do it for you
When you go to the web portal, make sure that you have already determined your business structure, you already have an Australian business number (if not, you should be prepared to apply for one), then you already checked that your business name is not yet taken.
It takes about two days for your business name registration to be confirmed if you paid by credit card. If you paid through bank transfer, EFT, or BPay, you need to wait five business days.
Registering Through Service Providers
When you register through a service provider, the process even becomes easier. You can go to their web portal to check the availability of a business name. You do not need to prepare any documents when you fill-up the online application form. After you completed the payment, the service provider will then endorse the forms to the proper agencies.
Finally, you simply wait for the confirmation email to arrive on your website within two days. Your Australian Business Name will arrive even earlier, like within two hours after submission.
The best part is that they have online support chat where you can talk to a representative who will guide you through the entire process, which should not take a few minutes.