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Business basics

Starting a business: ASIC and your obligations

Key points:

  • ASIC maintains registers of business information, including the business names register and companies register.
  • Depending on the decisions you make about your business, you may need to register it on one or both.
  • You will also need an Australian Business Number (ABN) from the Australian Taxation Office.
  • You may need other registrations that are not managed by ASIC.

Advice on starting a business

For a detailed guide to starting a new business, go to business.gov.au:

Guide to starting a business at business.gov.au

ASIC and your business

When you run a business, you may need to engage with ASIC for some of your legal and compliance obligations.

  • If you choose a business name that is different from your own name, you must register that name on the business names register.
  • If you choose a company as your business structure, you must register it on the companies register.

Depending on the decisions you make when you set up your business, you may need to be on the business name register, the companies register, or both. See Step 2 of the business.gov.au guide to starting a business.

If your business does not need to be on these registers, you may still need to deal with ASIC if your business operates within one of ASIC’s regulated industries. These include financial services and consumer credit.

Business name registration

Businesses in Australia usually trade under a name. You must register a business name with ASIC unless you are:

  • operating as an individual under your legal name
  • operating in a partnership under all partners’ personal names
  • a registered Australian company and your operating name is the same as your company name.

See examples of business name requirements for different types of business.

Find out how to register a business name.

Company registration

If you decide to be a company, you must register it on the companies register and keep your registration up to date. Some people choose to pay an advisor, such as a lawyer or accountant, to do this for them.

Companies are more complex than sole trader or partnership businesses. You will have many ongoing obligations.

You will need to make a number of decisions when you register the company, including about the:

  • company type
  • company name
  • governance structure
  • officeholders (directors or secretaries)
  • structure of company shares
  • members (shareholders).

These are the legal building blocks of a company. Learn more in our Companies basics section:

Company building blocks

When you’re ready, find out how to register a company:

Register a company.

Australian Business Number (ABN)

To register a business name, you will also need to apply for an Australian Business Number (ABN). The ABN is an 11-digit number used to identify your business. Most companies also need an ABN.

You can apply for an ABN through the Australian Tax Office:

Register for an Australian Business Number

Other registrations you may need

Your business may need other registrations that are not managed by ASIC, including:

  • a trade mark
  • taxes
  • licences and permits
  • a domain name to use for your email and website.

For details, see Step 4 of the business.gov.au guide to starting a business.

You may need a registered trade mark as well as a registered business name

Registering a business name protects you from another business registering an identical or nearly identical name.

However it does not:

  • stop other people from using similar words or expressions in their business name
  • protect you against legal action if you use someone else’s registered trade mark.

To protect your business name, you can consider registering a trade mark. You should also search existing trade marks to make sure you are not using someone else’s. Find out more about trade marks, and search and register them, at IP Australia.