Home – New Forums Starting your journey Some advice and info for a student

  • This topic is empty.
Viewing 15 posts - 1 through 15 (of 15 total)
  • Author
    Posts
  • #963992
    andrew
    Member
    • Total posts: 4
    Up
    0
    ::

    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

    #1001898
    MissieK
    Member
    • Total posts: 234
    Up
    0
    ::

    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

    #1001899
    Burgo
    Participant
    • Total posts: 2,104
    Up
    0
    ::

    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

    #1001900
    Elizabeth Richardson
    Member
    • Total posts: 16
    Up
    0
    ::

    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,

    #1001901
    andrew
    Member
    • Total posts: 4
    Up
    0
    ::

    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

    #1001902
    Elizabeth Richardson
    Member
    • Total posts: 16
    Up
    0
    ::
    andrew, post: 968 wrote:
    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.
    #1001903
    andrew
    Member
    • Total posts: 4
    Up
    0
    ::

    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.

    #1001904
    BrightSpark
    Member
    • Total posts: 131
    Up
    0
    ::

    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.

    #1001905
    andrew
    Member
    • Total posts: 4
    Up
    0
    ::

    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

    #1001906
    Past-Member
    Member
    • Total posts: 1,815
    Up
    0
    ::

    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/CA256EB5000644CE/page/Business+Names+%26+Structures?OpenDocument&1=20-Business+Names+%26+Structures~&2=~&3=~

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

    #1001907
    BrightSpark
    Member
    • Total posts: 131
    Up
    0
    ::

    The short answer is yes. Each state can have the same business name registered in it. Also a business name doesn’t offer any protection as it is not an entity whereas there can only be one company in Australia with a name. You can show prior use but you would still have to fight for the name, even more so if the others have trademarked the name.

    #1001908
    The Office Witch
    Member
    • Total posts: 12
    Up
    0
    ::

    Hi Andrew,

    Don’t setup a company or anything like that, it cost you money and at this stage, being a student ,you don’t need it.

    To regsiter your busienss name go to ABNLookup – Welcome to ABN Lookup and check if the name is available. Once you register your chosen name it’s yours, no one else can use that in Australia.

    You should open a separate bank account for accounting purposes and also it would make it easier to to track your expenses and income. It’s important to keep your business records in order.Try e-records, it’s free, available from the ATO.

    It would be great for you to have a good accountant who would help you from the beginning.

    Good luck!

    #1001909
    Renee Barber
    Member
    • Total posts: 360
    Up
    0
    ::

    When I first started out, I had no clue that I had to actually register my business name. Boy did I have a tense time waiting to see if my name had already been registered! The lesson you can learn from this is it’s best to nut out your name now and get it registered. It’s a very minimal amount of money and the registration is good for three years (at least in Victoria).

    After you’ve sorted out your company name registration, I’d then register the relevant domains before they’re snapped up. It’d actually be worth your while to approach this in a two-pronged fashion i.e. make sure your company name *and* domain(s) are available. Also ensure that you do your homework on domain names as some companies charge an arm and a leg. I won’t even talk about hosting as you have enough to deal with at the moment …

    The good thing about it is you’re already well on your way as you’ve sorted your ABN and are thinking about tax implications. By the way, to my knowledge, as a sole trader you aren’t required to have separate accounts. It’s just recommended.

    Anyway, good luck and if you need any help (especially paid, grin; I’m not doing this as a hobby!) along the way, feel free to email me directly.

    #1001910
    Business Vic
    Member
    • Total posts: 35
    Up
    0
    ::

    Hi Andrew,

    Once you have your business name registered it’s yours for as long as you keep re-registering it. If you’re worried about your business name being unique (or about any of the tax implications etc of your business structure), then try using the Business Victoria guide:Step-By-Step: How to Register your business

    It gives you a checklist to go through, including links to search business names, company names, domain names etc. If you do go through it we’d be interested to hear how useful you found it.

    #1001911
    peachcouch
    Member
    • Total posts: 2
    Up
    0
    ::
    andrew, post: 956 wrote:
    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

    Hi Andrew

    I have just gone through the process of applying for an ABN as a sole trader just like you and own an online ecommerce but I use my name on my invoices. You said you already have an ABN and as you have an ABN then you are already a business as your name is acutally in the business registry. I believe you are concerned only with the trading name as you would like to trade in another name and not using your own name. If this is the case then you will just need to Register a business name in Consumer Affairs Victoria. You can also apply online but you will be required to fill in a credit card information here is the URL https://online.justice.vic.gov.au/cav/br-home

    I think its around 60-90 AUD I’m not sure of the exact figure but it is less than 100 AUD. If I were you I will just use my name in all my invoices but have a logo that will be attached specifically to your name. You can name your website different if that is what you are asking. You can do that as long as when you are doing all invoices you still use your name. In your calling card you put your name along with the logo and the website name. I believe that is not a problem. Although, I can tell you now that the name of your website or even the domain name that you use does not protect your brand. Other people is entitled to use your brand if it is not trademarked and having a trademark protected will cost. You can have a logo but then your logo can be use by another person if it isnot trademark. So I think if you are a designer the best way to do it with your website is to have a logo and then your name on it. That way it is your name you are using and people can’t really trademark a name as that is a name that can be used anywhere in the world already. I have met and seen a lot of designer online and they are using their name as their brand. That also means you keep your cost on the lid as at the moment you don’t really want to spend so much.

    You put your name and then a logo. You can even use your name as a domain name as long as it is still available. http://www.AndrewDoe.com as a sample. What better brand and advertisement of your ability would that be than using some other unknown name that when it grows big you will not really be immediately recognized as the pioneer?

    With the bank account you can use your personal bank account.

    I hope this helps. :)

Viewing 15 posts - 1 through 15 (of 15 total)
  • You must be logged in to reply to this topic.