Home Forums Money matters not to sure about this, do I need a business name?

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  • #971158
    flippera
    Member
    • Total posts: 2

    Hello, I recently found myself unemployed and am attempting to work from home.

    I was originally going to do some affiliate marketing, but have recently decided to begin website flipping.

    Website flipping involves buying websites for sale, fixing them up and selling them for a profit. I am also going to be building my own websites and selling them. I would also like to keep a few websites that generate money so that I do have an income not just money when I sell.

    Anyway, I was just wondering. Lets say for example that I purchase this website –> http://www.soulsdating.com I was just thinking do I need to register a business name for each of these websites. Because I only have an ABN which is not linked to a business name but is only under my name, and now I have an income generation from a place entitled “souls dating.” I’m not sure about this, I hope I don’t need to register business names, but just need some clarification. Any help or advice would be great!

    It’s a lot like share market investing and property investing isn’t it. I find website flipping to be very exciting and seems fun and profitable!

    – flippera

    #1048130
    Anonymous
    Guest
    • Total posts: 11,465

    Hi flippera,

    Welcome to Flying Solo, and good on your for taking such a proactive approach to your recent unemployment.

    To help us give you a personal welcome, please let us know a little about yourself by filling in your profile in ‘Control panel‘.

    Hope someone pops by to help you out with your questions soon,

    All the best,
    Jayne

    #1048131
    TheGoldenGoose
    Member
    • Total posts: 860

    Hi There

    From my understanding – trading on the internet does not require you to register a business name.

    Not sure if it will be changing next year though, when Department of Fair Trading get taken over!

    Which state are you in?

    http://www.fairtrading.nsw.gov.au/Businesses/Business_names.html#Trading_on_the_internet

    “If your business trades only via the internet you do not have to register and display a business name in New South Wales.”

    Hope this helps!

    #1048132
    flippera
    Member
    • Total posts: 2
    TheGoldenGoose, post: 58856 wrote:
    Hi There

    From my understanding – trading on the internet does not require you to register a business name.

    Not sure if it will be changing next year though, when Department of Fair Trading get taken over!

    Which state are you in?

    http://www.fairtrading.nsw.gov.au/Businesses/Business_names.html#Trading_on_the_internet

    “If your business trades only via the internet you do not have to register and display a business name in New South Wales.”

    Hope this helps!

    Thanks for the reply TheGoldenGoose, I live in Victoria.

    #1048133
    Netorigin
    Member
    • Total posts: 421

    Hello flippera,

    From the Victorian Consumer Affairs website:

    To conduct business in Victoria under any name other than your own, that name must be registered with Consumer Affairs Victoria. This means:

    * If you trade under your own name – for example John Citizen or J Citizen – you do not have to register it as a business name. However, you can register your personal name as a business name if you want to.
    * If you add anything to your name – for example John Citizen Plumbing or J Citizen & Associates – it becomes a business name and must be registered. There are penalties for using a business name that is not registered.
    * If your organisation is a proprietary limited or limited company you do not have to register the name as a business name.

    http://www.consumer.vic.gov.au/CA256EB5000644CE/page/Business+names-Business+names?OpenDocument&1=20-Business+names~&2=010-Business+names~&3=~

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