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  • #1000400
    akib
    Member
    • Total posts: 2

    Hi Everyone,

    I hope everyone is doing well and staying safe during the COVID pandemic.

    I have decided to officially start trading with a business name and I was was wondering if I would be able to get some feedback from the community here.

    At present I am thinking of naming the business after my name but had few feedback to not to go with name as it may bring difficulties in selling the business in future or psychological biases may occur from consumer due to my name not being English derived.

    I have got other names in my mind as well if I do not go by my name. Just wanted to know what are your thoughts?

    Also, what was your thought when you named your business?

    Any advice would be greatly appreciated, ta!

    -Chowdhury Akib Ahmed

    #1224205
    Rowan@quaotic
    Participant
    • Total posts: 712

    Going just with your name as the business name is only an advantage if you don’t want to register the business name.
    I suggest going with a registered business name that reflects the nature of your business but generic enough that you can change your products somewhat in the future and not regret the name because it only covers your business as it is now.

    #1224206
    akib
    Member
    • Total posts: 2

    Thank you very much! I appreciate your thoughtful response.

    One more question, if I already have an ABN registered on my name, should I create another one with the name of the business only to use it for business purpose?

    #1224207
    Rowan@quaotic
    Participant
    • Total posts: 712

    As a sole trader your ABN is attached to you, so it doesn’t matter if you change your business name. It used to be that you could get online and change your ABN details to reflect a business name but last time I tried there wasn’t an option for that anymore.
    You don’t need to do anything I think, unless someone comes on to correct me.

    #1224208
    JacquiPryor
    Member
    • Total posts: 2,344

    As Rowan said, if you are acting as a sole trader the ABN connects to you and you don’t need another one for a business name. You can go to asic.gov.au to register your business name. It will ask for your ABN and then it will link that business name to you/your ABN. In the future if ever needed you can register more business names, all with that ABN and they will link up.

    If you register a company, then that is different. A company is a separate legal ‘person’ to yourself so in that case the Company would get its own ABN and could register business names that link back to that company and ABN.

    #1224209
    businesstrade
    Participant
    • Total posts: 210

    It depends on what you are after. If you intend to sell the business in the future, it might be a good idea to call your business something other than your name.

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