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Registering a business and other admin tasks.

After all the excitement of deciding to start a business, you’ll have some paperwork to do.

How to register a business with the government.

There are a few government departments that need to know about your business:

  • MBIE (Ministry of Business, Innovation and Employment): Once you’re officially in business, tell MBIE and they’ll issue you with a business number. You may be asked to quote it in your dealings with the government (and others). It will make things faster and easier.
  • IR (Inland Revenue): You may have to pay income tax and GST, so the tax office will need to know about you. They’ll provide you with a tax number. It’s not all one-way traffic, though. When your business is GST registered, you can claim back GST on business expenses.
  • ACC (Accident Compensation Corporation): As a business, you have a workplace – even if it’s your home and you’re the only worker in it. ACC provides cover for workplace accidents. You need to register and pay a levy.

You’ll have some extra formalities to complete if you choose to set your business up as a company.

How do I register a company?

If you’re setting up as a company, you need to register with the Companies Office, which is run by MBIE. This can be quite an involved process.

For example you’ll need to register shareholders and directors. You may even need to provide a company constitution. Companies are required to report their activities to the Companies Office every year.

Do I need to tell any other regulators?

There may be some more to do if you’re entering a regulated industry. A caterer, for example, needs to be registered and have a food control plan – and possibly a liquor license.

Speak to friends in the industry, or your industry representative body to find out if there are special requirements.

Should I trademark a business name?

You can legally protect a business name and logo to prevent others from mimicking your identity. This can be a valuable step for businesses that plan to invest a lot in making their brand widely known.

 This area of the law can get complicated – especially if you expand into overseas markets and find there’s a business there with a similar name. Ask for advice from a legal professional with experience in this area.

At the very least, use trademark registries (and search engines) to check that no one already has your business name. It’s an easy way to save yourself a lot of hassle.

Things you should know.

The opinions expressed on this page are not necessarily those of Westpac and Westpac does not endorse or approve any goods or services to which reference is made. Westpac makes no representation as to the accuracy or currency of the materials, which are provided without taking your personal financial situation or goals into account. Westpac accepts no responsibility for the availability or content of any third party material to which this page may refer.

 Any tax information provided in this webpage is general in nature and for illustrative purposes only; it does not constitute tax advice and should not be relied on for tax purposes. You should seek professional advice on the tax implications of your investments based on your particular circumstances. Westpac accepts no responsibility for the tax consequences of investments to you or any third parties.

Originally published by Xero. Find out more about Xero's accounting software for your small business.