If you’re starting a business in New Zealand or working for yourself, here are things you can do up-front that will safeguard yoru investment in the future.
1. Make sure your idea is viable
It’s best to be confident your business idea will work. Write a business plan as a way of thinking it through.
2. Choose a business name
If you have a name in mind — even if it’s your own — use our ONECheck tool to quickly see if it’s available. With one search you can see its availability as a business name, trade mark, web domain and social media username, to help you choose a name that you can market and protect. Learn more about Choosing a business name.
3. Choose a business structure
If you’re a business or self-employed you can choose the structure that best suits you. The most common are sole trader, partnership or company. Each structure offers various benefits and considerations. Depending on which you choose, you might have to register with government in different ways. Our Choose Business Structure tool can help you make the right choice.
4. Get a RealMe® login
You may need to get a few registrations from government agencies. Several agencies use a RealMe® login. If you get a login early in the process, you can get on with your to-do list easily.
*RealMe® is a registered trademark of the New Zealand government and New Zealand Post.
5. Get a New Zealand Business Number
The New Zealand Business Number (NZBN) is a unique identifier for your business. Your NZBN links to the information others need in order to work with you, like atrading name, phone number or email.
Having an NZBN will make it easier to do business because you won’t have to keep repeating the same information over and over when dealing with someone new or when something changes. If you’re a company, you’ll automatically gt an NZBN. Sole traders, self-employed people or partnerships can register for an NZBN online and it’s free.
Register for an NZBN – NZBN.
6. Secure your business name
Whether you’re new to being self-employed or in business, a small investment now will mean you won’t lose your ability to market and protect your name while getting other things in order. Use our ONECheck tool as your starting point.
Step 6i: Register a domain name
Get a web address. Low cost, quick and easy. See the Domain Name Commission’s list of authorised registrars. Authorised registrars – Domain Name Commission
Step 6ii: Reserve your company name
If you decide to structure your business as a company you need to reserve your company name with the Companies Office — it’s low cost, quick and easy. You’ll need a RealMe login. You must use the name to incorporate your company within 20 working days of reserving it. Reserving company name – Companies Office
Step 6iii: Check for trade marks
Get an initial assessment report from the Intellectual Property Office (IPONZ) before you invest in applying for a registered trade mark. Do this by applying online for a search and preliminary advice (SPA) report on the IPONZ website. It’s low cost, easy and you’ll get it within five days. You can also search the trade mark register for free.
You’ll need a RealMe login, or phone IPONZ on 0508 447 669.
- Search and preliminary advice – IPONS
- Trade mark register – IPONZ
Did you know: Before registering, make sure your business name has been given the green light from your IPONZ SPA check.
7. Look into regulations
Specific regulations might apply in your industry or region. For example, fair trading, consumer guarantees, privacy, health and safety, food licensing. Look into which central and local government regulations apply to your business. Our website is a good starting point. You can also search central government regulations tailored to your industry on our Compliance Matters tool.
8. Register your company
If you’ve decided to structure your business as a company then register online with the Companies Office — it’s low cost, quick and easy. You’ll need a RealMe login.
Start a company – Companies Office
Did you know: You can register for GST at the same time as you register your company.
9. Register for GST
Register online with Inland Revenue.
You’ll need to register for GST if you’re earning mroe than NZ$60,000 each year. You can register for GST at the same time you register your company. If you don’t or if you’re another type of business you can do it online at ird.govt.nz. It’s quick, easy and free.
GST – Inland Revenue
10. Register your trade mark
A registered trade mark is the best way to protect your brands in the marketplace. You can use your SPA check to begin your application online with IPONZ. It’s quite quick and easy, low cost for a high level of protection. You’ll need a RealMe login, or phone IPONZ on 0508 447 669.
Trade marks – IPONZ
Source: Business. Govt. NZ