A service allowing businesses to nationally register their names in a single online process has kicked off, removing costs of up to thousands of dollars and eliminating wasted time spent registering names with various states and territories.
The National Business Names Registration Service will mean businesses no longer need to fill out a multitude of forms and pay a number of fees – many over $1,000 – to register their name in every state and territory they trade in.
Under the new service, businesses need to take part in a single online registration process and pay a single fee – $30 for one year or $70 for three years.
Existing business names will be automatically brought across to the new register.
According to Minister for Small Business Brendan O’Connor the new register will cut red tape and save businesses time and money.
Parliamentary Secretary to the Treasurer Bernie Ripoll said details of the new online renewal process will also be included in renewal notices sent by the Australian Securities and Investments Commission (ASIC).
“To help new businesses, the processes for registering business names and Australian Business Numbers (ABN), the two most common registrations when starting a business, will be linked as part of an online one-stop shop,” he added.
Businesses will also be able to follow links to TM Check, the simplified Australian trade mark search, and also domain name searches, to assist them in choose a name for their organisation.
Enhancements to the National Business Names Registration Service will be delivered progressively between now and November 2012.