Business Name Registration

[Brandii]

I noticed when registering a Business name you are given two months to start your business trading.. can anyone explain why this is and what happens if you have not started selling by the time you have specified? thanks

[Robert Gerrish]

Hi Brandii

I think the need to commence within two months is to deter people from taking a name and not doing anything with it. I suggest you speak to a contact within your local state business dept.

You'll find them listed here.

Hope this helps,

Robert

[Shelcom]

Hi Brandii,

You can find lot's of very useful information regarding business name registration on the Consumers Affairs Victoria website for instance.

Your question is confirmed here:

http://bit.ly/ynpdkh

If you'd like to check if the name you chose for your business is available and if you would like to register the name, you can visit our site www.shelcom.com.au. We are happy to answer questions and help you out every step of the way!

[Travis]

Hi Brandi

We personally use shelcom for new company formations etc and there information is excellent, I'd highly recommend them. Ask for either Wendy or Gabrielle. They are local to us and their response is very fast.

If you don't trade within 2 months as expected, it makes no real difference. The business name I believe lasts for 2 years, so if you register it sooner than you need then you will just need to renew it a little sooner.

Good luck with the new business.

Travis Allen CPA
www.hillyerriches.com.au

[Brandii]

Thanks everyone for the responses

[RAds]

Two months is barely possible. I applied for a new business name online. Took almost 6 weeks for the certificate to get to me. Then I applied for a bank account using the business name certificate. They sat on it for 3 weeks (many apology phone calls, but still time lost). Not much choice of banks as I wanted local and I wanted a visa debit card - and they had a 1 year fee-free deal. Now I am waiting for the visa card in the mail so I can actually have separate finances for this business to buy a post office box so I can get stationery printed with the bank account # and PO box on it. The stationery alone will take some time to get printed. Then when I have it, I can consider a formal launch of my new business idea.

2 months? That's long gone. I was actually thinking it would take a week or maybe two to get business name, bank account and PO box but apparently the real world has proven me wrong.

[Crash Lander]

When you look into it, and actually speak to consumer affairs, "commencing trading" means doing anything that could be associated with running your business. Opening a bank account, or getting printing organised, or placing an advert, or even cold calling a couple of people to try and generate some interest in your business is all covered under that term of "running your business", so most people actually begin trading well within the 2 month time period, without even realising it.