I’m an artist and have a sole trader ABN which is my own name. I would like to set up a separate craft business which would have it’s own name and be different to my art practice. I have a day job which is my primary source of income and I do art on the side. My idea for the new craft business was just to set up an Instagram page initially, see what kind of following I get and sell items through direct message to anyone interested – then maybe look at opening an online store if it’s worth my while down the track
I just want to make sure I’m doing everything properly before I jump in and start posting my items. I understand that I don’t need a separate ABN, but I’m getting confused about whether I need to register my new business name, as it’s unclear whether this is a business or a hobby (according to the quiz on business.gov.au). Any advice would be much appreciated thanks
Just to add on to my question sorry if it’s silly I’m new to this :p I want to have two separate businesses ie. a)My name (artist) b)New business name (craft business) so when I register the new business name is that going to override my own name? How do I register so that it’s an additional name attached to that ABN? And then at tax time should the expenses/income from the two businesses be recorded separately or combined because they’re under one ABN? Thanks!