What do I need to know before choosing a name?

Before choosing a name it is important to make sure it has not already been taken. Some places you can check this include:


Once you have decided on a name, you can choose to register the business name with ASIC.


Do I need a non-disclosure agreement?

A non-disclosure agreement is designed to safeguard a business’s confidential information. More information about when and how to use a non-disclosure agreement can be found here: http://www.startupcommons.org/confidentiality-agreement--nda.html


Which business structure should I choose?

Sole Trader:

As a sole trader, you are legally responsible for all aspects of the business. Any debts or losses that arise as a result of the business cannot be shared with other individuals. However, the sole trader is advantageous as it has few legal and tax formalities. As such, it is the simplest and cheapest business structure you can choose and highly suitable for start-ups in the beginning.



A partnership is an association of up to 20 people who run a business and share any income or losses between themselves. The management and control of the business is shared between partners. It is relatively inexpensive to set up and operate.



A company is a legal entity separate from its shareholders. This means that the company’s owners can limit their personal liability and are generally not liable for company debts. However, there are higher set up and administrative costs to adopting a company business structure due to additional reporting requirements. Company officers and directors must comply with legal obligations under the Corporations Act 2001. To incorporate your business, you need to register with ASIC.


For more information on your choice of business structures: