Before you register trading name or if you currently have a trading name, it is necessary that you know important details to keep the process with ease and accuracy. There are new updates being implemented, thus best that you know each of the information. You may thought that everything is still the same with how trading names are treated, you better check and evaluate again.
Before starting to register trading name, it is best if you know these details:
How to register trading name or business name?
It was dated 28th of May 2012 when The Australian Securities and Investments Commission or ASIC launched the use of a new national business names register replacing territory and state registers. Anything that involve registering of trading name will be managed by ASIC.
The registration of business names and not trading names can be completed and accomplished via their website, thus process has been made easier for new or even current business owners.
Note: Business names, and not trading names, are needed to be registered. They will no longer consider trading names for registration.
How does trading name work now?
Note: Since date of 28th of May 2012, ABR or Australian Business Register, no longer accepts or updates trading names. There is no way to register trading name at this moment
With the statement above, any trading names that were accepted prior the date of 28th of May 2012 will only be continued to display in ABR and ABN lookup until the month of October, for year 2018, but will not longer be available for updates. The time given is to give time for the business community to adjust and cope up to the new business name system and to give enough time for business owners to register a business name which they may or not have previously registered. After the given leeway, ASIC will stop displaying trading names and will only display business names that are registered.
It is important that you turn to business names now, contact ASIC or check their website if you have any further question on how to work on this process correctly.
How to update your business trading name?
Unfortunately, there is no way for you to update your trading name. You need to take action and start registering a business name instead. Visiting the ASIC website is necessary to know whether or not you need to register a business name.