The First Five Steps to Success in Starting a New Zealand Business

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Last week we looked at why it is so important to be sure that your idea for a product or service is viable before going forward with plans to start a business in New Zealand. There are many reasons why New Zealand is a good place for an entrepreneur to choose. As mentioned in an earlier article, the country was among the 2018 Forbes Best Countries for Business and is one of the easiest places to do business according to the Doing Business survey for World Bank in 2016. This is partially due to the fact that there are not many restrictions on establishing a business here, nor on owning one or operating one. The New Zealand government has online portals which make it quite simple to incorporate your company and reserve the name that you have chosen for it, as New Zealand Now explains. This week we will look deeper at the steps involved in starting a business in this country.

Choose a Name For Your Business

As the Ministry of Business explains, once you have made sure that your business idea is a viable one, you should choose a name for it. Some entrepreneurs come up with names for their business that sound totally unique, only to later find that it is already registered and in use. Even if you are using your own name, the article explains that you should still make sure that it is not being used. The ONECheck tool can help you check the availability of the name you have chosen, as well as search for any trade marks, social media usernames, web domains, and more. Simply click the link.

Choose a Business Structure

In New Zealand, anyone who owns a business or is self-employed can decide which business structure is the best for them. The country’s business structures are mostly Sole Trader, Partnership, and Limited Liability. We will look deeper into these in a later article. How you register your business with the New Zealand government will depend on which structure you choose. They even have a tool to help you choose which structure suits you the best.

Get a RealMe® Login

When registering in with various government agencies, you will need this log in. It is a registered trademark of the New Zealand government and New Zealand Post. Getting this RealMe® login will make it much easier to register your business where needed.

Get a Business Number for New Zealand

Known as the NZBN for short, the New Zealand Business Number is a way of setting your business apart. Your trading name, email, phone number, and other information are all linked to this number to connect others with you. This makes it much easier to do business, according to the Ministry of Business and costs you nothing. Companies are automatically issued an NZBN, and partnerships, self-employed, and sole traders can register for one online for free.

According to the article, you will also need to secure the business name that you have chosen, look into regulations, register the company, register for GST, and register your trademark. We will take a closer look at this in our next article. Anyone who is starting a business in the Wellington area may choose to use Offix shared office spaces for your office solutions. We offer all of the advantages of traditional office spaces at a fraction of the cost.

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