Most of the cost of getting a business registration step wrong isn't the fee. It's the rework. Register a business name before the structure is settled, or start invoicing before insurance is in place, and fixing it later usually costs more time and money than doing it in the right order the first time.
There is no single government form that registers a business in Victoria. It's a sequence of separate registrations, each depending on the one before it, and the order matters more than most new business owners expect.
Starting a business? Get the structure and registration sequence right from day one.
Book a Free Consultation →Decide the Structure Before You Register Anything
Sole trader, company, or trust changes almost everything downstream: which registrations you need, how you're taxed, and what your personal liability looks like if something goes wrong. This decision should come before you reserve a business name or apply for an ABN, not after, because the structure determines which entity actually holds those registrations.
The Registration Checklist, in Order
- 1. Confirm your structure. Sole trader, partnership, company or trust, based on liability, tax and growth plans, not just what's quickest to set up this week.
- 2. Register your ABN. Required regardless of structure once you're carrying on a business.
- 3. Register your business name. Only needed if you're trading under a name other than your own (sole trader) or your registered company name.
- 4. Register your company with ASIC, if you've chosen to incorporate. This creates the company as a separate legal entity, with its own ACN.
- 5. Register for GST, once you reach the turnover threshold, or earlier if voluntary registration suits your situation.
- 6. Set up your accounting and record-keeping before your first transaction, not after your first BAS is due.
- 7. Put terms of trade or a client agreement in place before your first invoice goes out.
- 8. Arrange the insurance your industry requires, and workers' compensation the moment you take on staff.
Not sure sole trader is still the right call as the business grows? We cover that in our guide on business structure.
Is Your Business Structure Still Right? →Where New Business Owners Commonly Trip Up
- Registering a business name before the structure is settled, then having to re-register once the entity changes.
- Assuming a business name registration protects the name. It doesn't. Trademark protection is a separate process, and skipping it leaves a name open to being used by someone else.
- Mixing personal and business banking from the start, which creates exactly the untangling problem that shows up years later if the business is ever sold (see our guide on getting a business sale-ready).
- Delaying accounting setup until the first BAS or tax return is due, rather than having a bookkeeping system running from the first transaction.
How Phan Campbell & Associates Can Help
At Phan Campbell & Associates in Footscray, we set new businesses up properly the first time: choosing the right structure, handling the registrations, drafting terms of trade, and putting bookkeeping and compliance in place from day one. Because our legal and accounting teams work from the same file, the structure your lawyer sets up and the accounting system your accountant builds are designed to match.
If you're starting a business, talk to us before you register anything.
Frequently Asked Questions
1. What is the correct order to register a new business in Victoria?
Broadly: decide your structure first, then register your ABN, then your business name (if trading under a name other than your own or your company's), then register your company with ASIC if you're incorporating, then register for GST if required, then set up your accounting and record-keeping. Doing these out of order, especially registering a business name before confirming the structure, is a common source of rework.
2. Do I need to register for GST straight away?
Only once you reach, or expect to reach, the GST registration turnover threshold, or if you want to register voluntarily below it. Some businesses register early anyway because it simplifies claiming GST credits on setup costs. Whether early registration makes sense for you depends on your expected turnover and costs, and is worth checking with your accountant before you decide.
3. Do I need a written contract before I take my first client?
You don't need one to legally start trading, but operating without terms of trade or a client agreement leaves you exposed on payment terms, liability, and scope of work from day one. Getting a template agreement reviewed and adapted to your business before your first invoice is far cheaper than dealing with a dispute after the fact.
4. What insurance should a new business have?
It depends on the business, but professional indemnity, public liability and, once you have staff, workers' compensation are the ones most new businesses need to consider. What's actually required or advisable depends on your industry, whether you see clients on site, and whether you give advice as part of the service. Talk to us before you assume a policy isn't necessary.