Last week we looked at the first five steps involved in 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 as explained by the Ministry of Business.
Secure the Name You Have Chosen for Your Business
In our last article, we explained why it is important to choose a unique name for your business, and how to use the government’s online ONECheck tool to make sure that the name that you have chosen is not already in use. Once the name has been chosen and steps 1 through 5 from our previous article have been completed, you will need to secure the name that you have chosen. There are a few steps to doing this:
- Register a Domain Name – You can take a look at the names of authorized registrars on this list from the Domain Name Commission.
- Reserve The Company Name You Have Chosen – If you have decided that your business will be registered as a company, then you will have to reserve the name of your company at the Companies Office. The cost of doing this is low, and it can be done quickly and easily. You will need to use the RealMe® login that you made as described in our previous article.
- Do a Trademark Check – Before you spend your money in registering a trademark for your business, the Ministry of Business says that you will need to “get an initial assessment report from the Intellectual Property Office (IPONZ).” Simply apply online on the IPONZ website for a SPA report (Search and Preliminary Advice). You will get the report within 5 days and it does not cost much. It is also free to search for a trademark.
Check Into Regulations
There may be specific regulations relating to your region or industry such as consumer guarantees, health and safety, fair trading, food licensing, and others. You will need to do a search to see if there are any that apply to your particular business. You may want to search the Ministry of Business website by using their Compliance Matters online tool.
Get Your Company Registered
You will have to register your business with the Companies Office if you have decided to structure it as a company. You will need your RealMe® login for this inexpensive task. You can perform the next step at the same time you are doing this one.
Register for the GST
If you are going to be bringing in over $60,000NZ annually, you will need to register for the GST. If you did not do this at the same time as getting your company registered, then you can visit the Inland Revenue website here and do so.
Get Your Trade Mark Registered
This is the last step in the Ministry of Business website of starting your business in New Zealand. The best way to make sure that your brand name is protected is by getting your trademark registered.
Those are the last steps in starting a business in New Zealand. Entrepreneurs who are starting out in Wellington may decide to use an Offix shared office space for their office solutions. This office space for rent in Wellington offers all of the advantages of a traditional commercial office space for a far cheaper lease price.