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If you’re thinking of going into business, you will most likely ponder on what to call your business. Sometimes this is more difficult than the other issues you will consider because the choices are endless. You want something catchy, something memorable and something that truly reflects the business you will operate.
In Papua New Guinea, the Investment Promotion Authority is responsible for the registration of business names.
If your business name happens to be your name (and the names of whom you have gone into business then it is not necessary that you register a business name.
But if your business name happens to be a name other than your name or the persons of whom you have gone into business with then you will need to lodge an application for registration of that business name.
Registering a business name is pretty simple. All you have to do is complete the prescribed application form, pay the fee and if the Registrar of Business Names accepts your application then you should expect to receive your business name certificate within a month. If you don’t receive a reply within a month then follow up with the IPA.
You can download a copy of the Application for Registration of Business Name by clicking the following link http://www.ipa.gov.pg/forms-for-download/business-names/.
At the date of this article, the fee is K50 but do check with the IPA as the fees are subject to change any time.
You can file the applications by yourself but if you need some help on the process or anything relating to registering a business name, we would strongly recommend that you consult a lawyer or accountant.
Other relevant matters:
If you’re considering financial products for your business, you might like to take a look at BSP’s SME loan products here http://www.bsp.com.pg/Business/Smart-Business-Banking/Smart-Business.aspx