Some advice and info for a student

[andrew]

Hello all, I have a few questions I'm hoping can be answered.

Firstly I'm still studying, and have been doing some sub contract graphic and web design for some smaller companies this year, so I have an ABN and it's set up as sole trader, and I'm trading under my full name.

I'm wanting to start up a small business with a name, website etc etc. I don't particularly want to operate under my own name as later down the track my business might expand. I also don't want to commit myself to just graphic design as I'm studying 3d animation and will eventually want to pursue this as well.

Anyway that's a bit about myself. Keep in mind I'm still studying, so as much as I want this to grow I'm focusing on only a few clients per few months but producing great quality design work with good service.

I'm currently in Melbourne so if i was to setup a business name, am I still able to trade interstate/internationally even though my work is carried out in Melbourne, or do I have to register in each state? I recall reading somewhere that it goes by your physical location.

If I am to setup a business name am i required to setup a business bank account or can I use my personal one? What is best practice?

As far as branding myself/business goes is there anything I have to be aware of? I will not be worrying about trademarks as I'll be small for a while but coming up with a logo/design for my business. My trading name for example could be 'Example Studios' but the logo could simply be 'ES', I know this is crossing over into trademarks but from what I gather I could do whatever I want with my 'brand'. I did read however that a business name must appear on stationary, business cards and invoices etc so from my example I use the logo 'ES' with 'Example Studios' underneath and that's it?

-Andrew

[MissieK]

The business name must be from the state you are living/operating in. So, having a business registered in Victoria does mean you can have clients anywhere (I do ).

You can use your personal account, however it is much better to keep things separate, especially if you have a business name different to your own & people pay you in cheques.

Melissa

[Burgo]

Go to the Fair Trading website and do a search for the name you want to trade under. If it is not already taken download an application form fill it in and send it off with the required amount of money.

To trade overseas talk to your accountant or solicitor.You may need to set up a trade mark so that your trading name cant be pinched by the yanks

The rest of it you seem to understand. You can set up a bank account Andrew ........ T/A Example Studios.

Also get yourself a copy of Success Secrets by peter thorpe and he will walk you through the steps.Then get a copy of Flying Solo and learn about being a soloist

[Elizabeth Richardson]

Great advice here so far... also consider a business name that contains your most important or most relevant keyword on order to optimize for search engines.

You can also have MORE than one business name or use a parent name that can be added to...eg.

ES graphic design
ES website services
ES 3d animations

All the best Andrew,

[andrew]

Thanks for all your info.

At the moment I don't think I'll delve into trademarking. Something to think about though.

Registering more than one business name would be done separately each time is that correct? Something I can also look at doing in the future.

I'm finding it hard to get my head around business names, I realize that it is simply a legal name for me to conduct business under, I also realize that it is completely different to trademarking a name/logo.

So if my fictitious business has the name 'Example Studios' BUT on my website I use the logo 'ES' does this have to be registered as a business/trading name as well? Or when I invoice a person as long as I have my full business name and ABN is that all?

Or am I missing something entirely?


-Andrew

[Elizabeth Richardson]

Originally Posted by andrew

So if my fictitious business has the name 'Example Studios' BUT on my website I use the logo 'ES' does this have to be registered as a business/trading name as well? Or when I invoice a person as long as I have my full business name and ABN is that all?

Or am I missing something entirely?-Andrew

I know the whole process can sound complicated but it's really quite easy.

• You can use any ORIGINAL logo you like - it doesn't need to be registered.
  
• You just need a business name, address and ABN on your invoices and you only need to be registered for GST if you might earn more than $75,000 p.a.
  
• Re: more than one business name - My registered trading name is 'lifegames'. Under that name I trade as 'lifegames' Photography and 'lifegames' Website Design.
  
• You can also have something that is classed as a 'hobby' and needs NO registered name. You can even earn lots of money from your 'hobby' as long as it ISN'T your primary source of income. My farming activities are considered a hobby but I can't claim my expenses as a tax deduction.

[andrew]

Thanks Elizabeth, bit clearer now. Although I was under the impression that you'd have to register two separate business names, like in your situation. That's definitely good to know. Rather than being stuck with 'photography' in your trading name when you want to pursue some web design.

Thanks for your help.

[BrightSpark]

I would suggest you set up a company and a trust right away. This will give you the name Australia wide and also offer some protection of assets in the future. Also from a tax point of view if you start of with a company you don't have any hassles that if you just started with a business name and then created the company at a later date. See your lawyer to protect yourself and it should be all done for less than a grand.

[andrew]

Thanks for the advice, but being a student I don't really have hundreds to be throwing around. I will be studying for the next two years and being a sole trader makes it easier at tax time, since I don't plan on earning heaps and it can all be done on my personal tax. At the moment I'm doing this out of passion and hopefully earning a little as well.

One question about business name registration though. If I register my business name in Victoria only, as this is where I'll be trading from. Can somebody register the exact name in another state? Can somebody register a company and then force me to change my name?


-Andrew

[KarenC]

Years ago people in different states could register the same name, but it doesn't happen as much now that we have computer access. Especially as most people like to register a domain name to match. Check out the Office of Fair Trading (Consumer Affairs) for your state http://www.consumer.vic.gov.au/CA256...uctures~&2=~&3=~

or ask ABR or read up at http://www.abr.business.gov.au