A ‘trading name’ refers to an unregistered name that businesses could use prior to the introduction of the National Business Names Register back in 28 May 2012.
After this date, businesses needed to register their ‘business name’ with ASIC. An extended transitional period (over 10years) has provided businesses with additional time to register their business names with ASIC. This transitional period ends on 31 October 2023.
From 1 November 2023, all trading names will be removed from the Australian Business Register. Businesses must now register their trading name as a business name with ASIC (if they haven’t already done so). If a business trades under their own legal name, the business name does not need to be registered.
If you have a trading name and intend to keep using it, you need to ensure it is registered before 31 October 2023.
What you need to do
- Check the ABN Lookup to see what business names and/or trading names are linked to your ABN – these are clearly shown separately.
- Business Names are already registered with ASIC and no further action is required.
- Trading Names need to be registered with ASIC if you wish to continue using them – this can be done click on the link: Registering a business name
For more information on Trading and Business Names, please visit business names, trading names and legal names
If you have any questions or require any assistance, please contact your 4Front Advisor.
