Business Name vs Trading Name

What’s the difference?

According to Business.gov.au

(What’s the difference between a business name a trading name and a legal name)…….. Nothing!

Excerpts from the above explain as follows

  • “Trading Name” is an old term used interchangeably with “Business Name”
  • “Business Name” is the correct term and is the title you trade under.
  • You can link multiple “business names” to your ABN – see below
  • “Legal Name” is the name of the entity for legal purposes. (ICB comment: Business Names are owned by the legal entity)
  • You MUST register your “business name” if it is different to your legal name, in order to use it (click here)
  • It is now ONE NATIONAL business names register ie no more register in every state

All that is fine BUT..

Abr.business.gov.au also advises

  • To apply for a registered business name you must have or be in the process of registering for an ABN
  • New business names will automatically update the ABR / ABN Lookup (ASIC will do it!!!)
  • To register, change or cancel a business name click here
  • Business names registered prior to 29 May 2012 may not currently appear on your ABN records.

“Trading names will NOT be fixed on the ABR / ABN lookup until 2018” Any trading name connected to an ABN as of 28 May 2012 will stay connected to the ABN until 2018 regardless. (The delay seems to make a mockery of the whole identify your supplier requirement but hey.

Source: ICB July 2014 Newsletter