Business registration is the first step toward establishing a business. Registering your business can help you convert your business ideas into potential profits. Hundreds and thousands of budding entrepreneurs come up with new ideas every day for establishing a business, but it takes considerable effort to convert these ideas into reality. If starting up a new business, you should know which registrations and licences are required for the industry you want to join. Business registration can be a complex process as it may depend on various aspects of your business; federal, territory, state, and local governments possess their registration and licence.

So, in that case, teaming up with a Business Registration Service provider seems to be the most lucrative choice. This is because when your registration process is done by professionals who have the required experience and knowledge, you can rest assured that the task is in the right hands. Moreover, it will make the process quick and hassle-free for you. But before you entrust someone who provides these services, you must check if they are charging the correct fee and doing the required paperwork for your company. Services offered by such companies must include:

Company registration

A registered business is an enterprise created and registered with the appropriate statutory authority of the country. The registration helps you set a reputation mark among your customers and stakeholders. So every business needs to get registered as soon as possible.

ABN registration

ABN is an acronym for Australian Business Number. It is a unique 11-digit number assigned to a business that helps the government and communities to identify it. An ABN number can be used for various purposes, even as an identification number for others when ordering and invoicing.

Business name registration

A business name is an official name of your company with which people recognise you and your brand. It should be unique as it will be your brand identity and be used for future documentation and registration purposes. The name must be registered with the concerned authorities.

These are the three essential services that the business registration service provider you choose must offer. Remember, less than these three services are not at all acceptable.

How do business registrations online work?

When it comes to initiating a business, the first thing you need to consider is what kind of legal business structure will suit your enterprise best. It is a decision you will need to take mindfully, as your choice will ultimately impact your liabilities, succession, taxation levels, ownership issues, and the disposal of your company if you ever decide to sell and other legal matters. In Australia, for instance, common business structures include:

• Sole trader or sole proprietorship– A business structure in which an individual is responsible for all trading activities.
• Partnership- In such a business structure, two or more people can legally share responsibilities, liabilities, profits, risks, and losses.
• Company- It is a regulated, legal entity separate from its officers and shareholders—for example- proprietary and public organisations.
• Trust- An entity in which the business is transferred to a third party who controls all legal issues. This party is responsible for running the company for the benefit of its members.

Once you have decided on the business structure, the next thing you need to do is visit the site of the online service provider, which offers all the required information and guidance. Follow the instructions given on the site. Choose a name that suits your company, then check whether it is available. Then the second task is to get the company name approved, and the third is to supply all the required documents so that the authorities approve them.

Business Registration Service providers offer various packages according to what suits you the best. These packages are designed considering the various types of businesses with different sizes, capital, budget, and members. So whatever suits you, you can choose accordingly.