Jul 15, 2023
What’s the Difference Between an ABN and Business Name?
You may have heard the abbreviation ABN used interchangeably for ‘Australian business number’ and ‘Australian business name’.
ABN only ever stands for Australian Business Number, and never for ‘Australian business name’, despite what you may have heard. And it’s an important distinction to understand.
ABN Versus Business Name
What is an ABN
In Australia, an ABN (Australian Business Number) is a unique, 11-digit number that identifies your business. You register for this number to allow you to start operating your business regardless of your business structure.
What is a Business Name
As opposed to an ABN, an Australian business name is the name under which a business venture operates. The business could be run by a sole trader, a trust or even corporate entity, but the business name is what it’s publicly known as and under which it trades.
The relationship between an ABN and a business name
While your business name and your ABN are different entirely, there is a relationship because you will likely need an ABN in order to run a business in Australia. It’s also possible to have several registered business names linked to one ABN, if the business activities are the same. For example, you may operate a chain of chocolate shops under the same business name Chocolates For Everyone, that are all linked to the same ABN.
Does my business need an ABN?
If you wish to register a business name or operate a business, including registering for GST or PAYG, you will need an ABN.
How to Register an ABN
Before you can apply for an ABN, you need to be certain of a few things to make sure you’re ready:
- Decide on your business structure. Will you be a sole trader, a partnership, trust or company?
- Have your Tax File Number ready.
- Have details of the business activities for which you need an ABN, as well as any business associates involved in your business.
Once you have your information ready, it’s a simple process of filling in the online ABN application form.
Does My Business Need a Business Name?
Almost every business that operates in Australia will need to register for a business name with the Australian Securities and Investment Commission (ASIC). The only exceptions are if the name you operate under is the same as your own (or in the case of a partnership, of all the partners names).
How to register a business name
Before you can apply to register a business name with ASIC, you need:
- Identify the business structure under which you will operate.
- Register for an ABN (or be in the process of applying for one).
- Checked our business name search.
Then you simply need to fill in our easy business registration form and your business name registration will be on its way.
Get in touch!
Whether you need to apply for an ABN or register a business name, our experts are on hand to help. Our easy-to-use application processes are fast and simple, and we’re also happy to answer any questions you might have.
Get in touch and get started today.
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