Why Hire a Service Provider to Register Your Business in Australia

Starting a business is daunting even with all the promises it holds, like being your own boss, for instance. In Australia, the first step is to register your company name, which is typically a prerequisite to securing the Australian Business Number. The ABN is an 11-digit unique identifier to help regulatory agencies differentiate you from the other businesses. If your organisation exists for the sole purpose of generating a profit, chances are, you need the ABN.

It will take about 24 to 28 hours from the time you register a business to the period where your ABN is reflected in the Australian Business Register website. But if you are hiring a professional service provider, you will receive an email confirming your registration and by which point, you can start trading immediately.

According to government data, there were nearly 2.4 million businesses that are actively trading in Australia. More than half of them were involved in construction, postal, warehousing, transporting, and professional services. There was also a 2.7% increase in the number of businesses that registered during the 2018-2019 period.

There are two ways to set up a business. You can do it on your own or hire a service provider to do so. Here are some benefits of outsourcing the process to a professional:

• You can get a jumpstart over the competition — With all the goodwill and network it developed over the years, as well as the familiarity with the process, you can get your Australian Company Number, ABN, and the Australian Securities and Investments documents within minutes. In contrast, doing them on your own will take weeks.

• They act as a first-layer check — How do you know if you are doing all the procedures correctly? The service provider will tell you if you did something wrong. In a sense, they act like the first examiner to make sure all your papers are in order and everything is aboveboard.

• Flexibility — The service providers will help steer you in the right direction when you need to apply last-minute changes. Their primary objective, of course, is to get you started at the quickest possible time.

• You can submit your application online — In this way, you do not have to shuffle back and forth between your location and the filing office. You can register your company in the comfort of your home.

• Free legal advice — The service provider actually has in-house lawyers. The attorneys will then sign off on all your documents that would be submitted to the filing office.

One thing that pushes people away from hiring service providers is the accompanying fee. Yes, there is an additional cost involved, but you get the most value for money. For example, you can already register a business online for a shade over $500, and it means saving on gas money, additional toil to do all the paperwork, and avoiding the bureaucratic headache.

Lastly, hiring a professional to help you register a business will free a lot of time in your hands. It allows you to focus on the more important things rather than get stuck with paperwork. As you know, starting a business means juggling multiple tasks, and time is your enemy. You can now focus on the design of your office, buying equipment and furniture, preparing your launch date, and readying the advertising materials.