22 September 2023
From 1 November 2023, all unregistered ‘Trading Names’ will be removed from the Australian Business Register – with businesses now needing to register their Trading Name as a ‘Business Name’ with the Australian Securities & Investment Commission (ASIC).
Prior to May 2012, a Trading Name could be used as part of starting a business before the introduction of the National Business Name Register. With the transition to the NBNR, businesses have been afforded a ten-year grace period to register their business name with ASIC – with the period now coming to a close on 31 October 2023.
Ahead of the October deadline, businesses should actively:
It is important to also note that where a business trades under the owner’s individual name (i.e. Jane Smith) or is a Registered Company Name, therefore no action is required and the business name does not need to be registered.
To check whether your business name is registered with ASIC, please visit https://asic.gov.au/for-business/registering-a-business-name/. For more information on how to register your Trading Name ahead of the deadline or for assistance in this matter, please contact your local JHK Legal office.