Home Forums Starting your journey Starting second small business – do I need to register the name?

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  • #1000086
    arc13
    Member
    • Total posts: 2

    Hi all,
    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 :)

    #1222909
    Rowan@quaotic
    Participant
    • Total posts: 712

    Yes, any business that is not your name must be registered by my understanding.

    #1222910
    Paul – FS Concierge
    Moderator
    • Total posts: 3,127

    Hi And Welcome to Flying Solo [USER=117426]@arc13[/USER] .

    It is great to have you!

    Thank you for joining our community and posting.

    Cheers

    #1222911
    arc13
    Member
    • Total posts: 2

    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!

    #1222912
    Rowan@quaotic
    Participant
    • Total posts: 712

    It is probably best to talk to your accountant and get a firm idea of what you want to achieve and how.

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