A new national business names registration service is expected to commence on 28 May 2012.

The new service, managed by the Australian Securities and Investments Commission (ASIC), will allow individuals to register, maintain and search business names online.

The new online national business names registration service will replace the current state/territory services, so that businesses only need to register their name once with a single national register.

New businesses will need to obtain an ABN before they can register a national business name.

To help new businesses, there will be a joint online application for an Australian Business Number (ABN) and national business name registration – the two most common registrations for business start-ups.

This will reduce the time associated with registering a business name, cut red tape and save business name holders’ money.

Until the new national service commences, individuals can continue to register business names with NSW Fair Trading as usual.