» ezimerchants guide to success!
Registering A Business
If you are going to conduct a business, you will need a business name. To check and see whether a name is available that you like, you can visit www.asic.gov.au This site has pretty much everything you need to know about registering and operating new businesses. Look under starting a new business and then ‘how to Register a New business’.
Business Entry Point
For all other forms and links go to the Business Entry Point: http://www.business.gov.au This is an excellent site and absolutely recommended to anyone starting out. This is a Federal Government initiative offering a range of value-added features that will assist business to discover, manage and complete Federal, State and Local government transactions through a single entry point.
If you are starting out there are generally two alternatives to registering a business. Establishing a Pty Ltd company, or registering and trading under a business name. A proprietary Limited company costs between $800 - $1000 and protects the name of the company in Australia. Registering a business name costs approximately $125 and only protects the name in the state you register in. However it does allow you to register a domain name.
Registering a Business Name
If you just want to register a business name or your company carries on a business in a name which is different to its company name, it must register the business name with the appropriate State/Territory authority. These are:
- Registrar-General of Business Names (Australian Capital Territory),
- Department of Consumer Affairs (New South Wales),
- Office of Business Affairs (Northern Territory),
- Office of Consumer Affairs (Queensland),
- State Business and Corporate Affairs Office South Australia),
- Corporate Affairs Office (Tasmania),
- Office of Fair Trading and Business Affairs (Victoria) and
- Business Names Registration Office (Western Australia).
Sole Traders and Partners. Businesses which are not companies (e.g., sole traders and partnerships) are required to register their business name. The exception to this is if they conduct their activity only under the name of the person or persons involved (i.e., first name and surname, or initials and surname).
Registration or use of a business name does not create a legal entity (whereas registration of a company does) and does not allow the use of privileges to which a company is entitled, such as a corporate tax rate or limited liability. A business name has no legal status.
While the requirement to register business names is not under the Act, business names are still recorded by ASIC's index, and the register against which proposed new company names are checked includes business names.
ASIC may refuse to register names which are offensive or suggestive of illegal activity.
Registering a Company
You will need to lodge an Application for registration as an Australian company (form 201) together with the prescribed fee. Prescribed fees are listed in the Fees for Commonly Lodged Documents information sheet.
This can be lodged in person at any ASIC Service Centre or with a Local ASIC Representative or by mail to:
Australian Securities and Investments Commission
PO Box 4000
Gippsland Mail Centre VIC 3841
The form will require you to state:
- the proposed company name (if the company does not have a proposed company name, the name on registration will be its Australian Company Number);
- the class and type of company;
- the registered office details;
- the principal business office details;
- director and secretary details; and
- members and share details.
After the Application for registration as an Australian company (form 201) has been received, fully paid and successfully processed, ASIC gives the company an ACN or ABN, registers the company and issues a Certificate of Registration.
Setting up a Merchant Account
While there are many ways to accept money over the internet and ezimerchant provides numerous options, if you are going to accept credit cards you need a merchant account with a bank.
Which Bank?
You may wish to use your own bank. However, we have substantial experience going through this process with our customers. A lot of banks are not interested in the merchant business of small and medium business. This is where many potentially successful enterprises give up because of what can only be described as nightmare experiences. Hence we strongly recommend two banks that have provided excellent service to new online businesses. Westpac for manual transactions and St George for either manual or real time transactions.
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