Under the new system, instead of registering your business name in several states, you’ll be able to do it in one place, for a flat fee of $30 for one year, or $70 for three years. Business names can currently cost more than $1,000 to register across the country for 3 years.
To access the system, called ASIC Connect, go to ASIC’s website and look for the ‘Business names’ link in the ASIC Connect box in the top right hand corner.
Importantly, if you already have business names, several different names, or the same name, registered in more than one state, you don’t necessarily have to do anything – they’ll be rolled into the new system. We recommend taking a look at the links below though, just to be sure.
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There is a lengthy FAQ here, as well as an overview of everything you need to know here.
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There is a brief fact sheet on the register here and a fact sheet about logging-in here.
Time will tell if this does anything to help reduce red tape.
