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  • #991119
    alison_onyx
    Member
    • Total posts: 5
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    Hello all,

    Long time reader, first time poster. apologies if this is already discussed but i didnt see it in a search.

    I am a sole trader (communications design) and already have my business name set up (for example ABC).
    I’d like to produce and sell a hardcopy weekly publication in a niche area with a different title and domain name to mine (for example XYZ), however would still like it all to be as a sole trader if possible.

    Is it necessary to register a new business name of XYZ which is the same name of the publication or can i just call the publication whatever name i want (and domain name) and do it under my existing abn and ABC business name?

    I am seeing my accountant in a couple of weeks but if i need to register a new name would like to get onto it asap. Sorry if the above is a little confusing!

    thanks in advance for your help,
    alison.

    #1180102
    ShellysBookkeeping
    Member
    • Total posts: 89
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    Hi Alison,
    You should be able to do it under your existing ABN and business name, however it may still be worth setting up a new business name. Is the publication related to your existing area of business or a completely different field? Is there any possibility the publication could reflect badly on your existing business or damage your brand. If so then a new business name might be better. Longer term is this a business you may sell? Just a few things to think about now that might help you decide if a new biz name is the best way to go.

    #1180103
    SuzsSpace
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    • Total posts: 692
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    I have no thoughts on your question but have several questions of my own for you.

    How certain are you this magazine will survive? Hardcopy magazines are challenging to get started and even more challenging to keep going.

    Have you done your research in the niche and are you sure it is needed?

    Have you got enough money behind you in case it doesn’t break even for several months?

    Are you going to be able to sustain writing something of this nature every week? Writing and desktop publishing can be challenging for a beginner and I’m assuming you are a beginner…but maybe I shouldn’t be assuming.

    #1180104
    Dave Gillen – Former FS Concierge
    Keymaster
    • Total posts: 2,566
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    Hi Alison,

    I’d go ahead and register the business name XYZ (even if you could get away without it). A business name is cheap to register and it will make things a lot clearer when you pay or issue invoices for example because you can trade as XYZ rather than having to trade as ABC or your actual name (Alison ___), which could be confusing for your suppliers or customers.

    You’ll still be a sole trader, and your new business name will still be linked to your existing ABN for tax purposes.

    I hope that makes sense, and good luck. :)

    Dave

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