Have you ever wondered about how to register a business name for free? When you are making a business, you cannot simply hit the ground running. There is quite a long list of things to do before your business can operate. From choosing a business name and location, to registering the business and filing for tax compliance.
How to register your business
Forming a business involves a certain amount of paperwork and quite an extensive step. Choosing a name for your business is a huge step. This is largely due to the fact that you must choose your business’ structure along with its designations. LLC is one of the most common designation new startups choose. Many of them do so for its extensive benefits such as its no double taxation requirement.
However, over the years it may actually put them at disadvantage. The fact that LLC does not provide protection or your personal assets may lead to disastrous outcome. Once you have made a decision on what to name your business, check whether it is available to use or not by looking it up at the state office’s website. Your local secretary may help you with more information and other specific regulations on how to register a business name for free.
If the name is available to use, you may start working on your business’ board of directors. Largely depending on the state regulations, you may be required to have multiple directors. Submit your incorporation articles containing the basic of your corporation. Once you have submitted the articles, your corporation has been registered at this point.
How to register my business for free?
The aforementioned steps may not be complicated in nature. However, there is one downfall from the above steps. It’s none other than the fact that businesses have to pay for filing fee when they submit incorporation articles. So, is there a way to register without having to pay this fee? If you are in Australia, follow the steps below to register your business for free.
- Visit the ASIC Connect website and either create or log into your account.
- Head over at the top of the page then select Licenses and Registrations.
- You will be taken to a drop-down box where you can easily select what you would like to register.
- Tick the appropriate boxes before agreeing to get started.
- Enter your business number after choosing the relevant option from the menu, enter your proposed business name and select your registration period.
- Enter your address and confirm the business name’s eligibility.
That’s it, now you know how to register a business name for free.