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When do I need to register different trading names for my startup?

BizSpark, Nudgemoments, Nudge Accounting, startups

Register business trading names

As part of our ongoing support for the Startup community, we blog (and vlog) every second month for Microsoft BizSpark as part of our #nudgemoments initiative. #nudgemoments is all about giving startups the opportunity to ask a finance question and get an answer that helps them grow their startup and make better business decisions.

The #nudgemoments StartUp Question from Emily via the Bizspark Blog in March was: Hi, I have a question for Emma; If you are a sole trader and have multiple blogs/websites, do you have to register each website’s name as a business trading name? And, if you do, do you need to set up separate bank accounts for each website/business trading name, or as a sole trader, can you collect all your income directly into a single bank account under your own name?

In response to this question, there are a few key areas that we have to cover off:

What is a business name?

A business name is the name under which your business trades. It is used to identify your business – think about who your customers think they are doing business with? Registering a business or trading name gives you the right (but not an exclusive right) to use that name.

When do I need to register a business name?

If you are a sole trader, trust or partnership you need to register your business name. However if your business name is your own first name and surname (or your partners), then you do not need to register. If you are a company, you only need to register your business name if it is different to your company name.

Does registering my business name protect my brand?

No, registering your business name does not give you exclusive rights to use to your business name in any way.

How do I register a business name?

You can register your business name with the Australian Securities and Investments Commission.

Do I need a separate bank account for each business name?

No, you do not need separate bank accounts – all the sales from your different business lines can be paid into the one sole trader bank account. However, it is important to have a way of tracking where the different sources of income are coming from.

For more information about registering different trading names for your business, you can read the full post here on the Microsoft BizSpark blog.

Nudge Accounting are accepting Bitcoins

Nudge Accounting, Bitcoin

Nudge Accounting have announced today that they will be accepting Bitcoins as payment for their startup and small business packages. This makes Nudge the first accounting firm in Australia to accept payment via digital currency and cements their position as an industry leader providing online accounting services to startups and small businesses around Australia.

Opening the door to payment by Bitcoin complements the Nudge subscription payment model and allows clients to manage their accounting and tax with a payment type they are increasingly comfortable, and familiar with.

“With many of our clients in the startup community, we need to look at the way they work and so accepting Bitcoin payments for us was a natural progression,” says Aaron Wallace, Co-founder and Operations Director of Nudge Accounting. “Providing packages that included cloud software, fixed prices and subscription models to our clients made things very startup friendly but Bitcoins popularity in this community makes it a payment option we had to include”.

Bitcoin is a decentralised digital currency that has been increasing in popularity. Payment using Bitcoin is now accepted by WordPress, Overstock and Virgin Galactic and is increasing in popularity due to its lower transactions costs. Acceptance of Bitcoin payments from many Bitcoin merchants allows suppliers to either retain payment in Bitcoins or convert to their local currency.

As online accountants, Nudge Accounting have moved away from unpopular time based billing to fixed price packages that use technology to create value for startup and small business clients. With cloud based software and leading market systems, we are able to offer all the bookkeeping, accounting and tax that a client needs in a way that traditional accountants can’t provide.

“When startups and small businesses change, we need to change with them and accepting Bitcoin payments shows that we are listening to our clients” adds Aaron.

Launch of #nudgemoments with Microsoft BizSpark_AU

Nudge are excited to have launched its with Microsoft BizSpark.

With the aim of helping start-ups manage their finances around Australia, our first vlog in June is focusing on cashflow after a question from @deanrobertson.

See our vlog in action below:

Have accounting and finance questions but you’re not sure who to ask, think #nudgemoments #startups @BizSpark_au.

Cheers

Aaron

–>

Nudge preparing for the launch of our #nudgemoments video blog with @BizSpark_AU

Microsoft BizSpark

At Nudge, we think accounting should be simple. Our online accounting packages provide an affordable end-to-end solution for small businesses and start ups. With efficient online systems, cloud storage and a dedicated client success manager, our team of Chartered Accountants ensure your finances are in good hands.

Nudge has been preparing for the launch of our #nudgemoments video blog in conjunction with @BizSpark_AU. This follows on from our announcement in April that Nudge were working with Microsoft BizSpark on this vlog.

In our first vlog, Emma at Nudge has been working with our fantastic videographer, Kim to capture a key question for the month that start-ups have sent through.

We look forward to the vlog getting off the ground and for start-ups to be able to use these tips from our experience to make better business decisions.

More info on the vlog can be found here.

Cheers
Aaron

Nudge clients creating waves in BRW, the AFR and Sunrise…

SunriseBRW

Recently, some Nudge clients have been creating waves with appearances in BRW, the Australian Financial Review and Sunrise on Channel 7.

Special mention goes to Jack Delosa from The Entourage, Lorraine Murphy from The Remarkables Group (whose photo graces our website homepage) and Jane Lu from Show Pony who are all Nudge clients and have demonstrated some exceptional growth recently.

You can see a clip of their appearance on Sunrise here. You can also read more about them in BRW here (unfortunately, it is behind a paywall so you will need to sign up for a free trial)

Nudge are proud to be working with start-up and small business owners that are creating waves in their respective fields. By Nudge taking care of the bookkeeping and monthly reporting in our packages, business owners have their businesses numbers in front of them each month and can make better business decisions.

Great work guys!!

Cheers

Aaron

Why should Start-ups care about Cash? Nudge’s article this month in Shoe String Magazine

Shoe-String-Logo

Each month I contribute an article to leading Start-Up publication, Shoe String.

This month, I wrote about start-ups and their cash and why it’s so important. The key questions we focused on were:

  • Do you have enough cash?
  • How long will the cash last?
  • Can you get more cash into the business?
  • When will your start-up have a positive cashflow?

We also touched on what start-ups should do to make the most of their cash. This is really important as clients of ours have received funding from government R&D grants, sponsorship’s, seed programs such as Optus Innov8 and Venture Capital. These tips, if not already implemented, are really important to make the most of the funds available.

You can read the article here.

Cheers

Emma

Nudge are working with Microsoft BizSpark to give you #nudgemoments

Nudgemoments by Microsoft BizSpark

At Nudge, we think accounting should be simple. Our online accounting packages provide an affordable end-to-end solution for small businesses and start ups. With efficient online systems, cloud storage and a dedicated client success manager, our team of Chartered Accountants ensure your finances are in good hands. We provide accounting and Tax Services to a very large number of Clients located across Australia in a range of industry segments/sectors for example : On-Line Retail, Construction, Financial, Hospitality, Media, Medical and Professional Services.

Nudge are excited to announce the introduction of A Nudge Start-up Moment with the Microsoft BizSpark program. This followed on from our initial guest post with BizSpark in March which received some great feedback.

Start-ups have the opportunity to ask Emma from Nudge questions about what their numbers mean (all the finance stuff) and she will answer the best question each month via a video blog.

Questions can be tweeted through via @BizSpark_au and the hashtag #nudgemoments or sent through via the comment section of A Nudge Start-up Moment.

Have accounting questions but you’re not sure who to ask, think #nudgemoments #startups @BizSpark_au

And don’t forget to follow @nudgeaccounting

Cheers

Aaron

Nudge has up-sized and moved!!!

Nudge Accounting has up-sized and now its headquarters are in Ultimo, Sydney. First pictures of our new office are below with more to come.

Nudge Accounting Ultimo Headquarters

We’re really excited about what this move means and our continued focus on start-ups and small businesses. Some familiar faces we’ve been seeing through the door in Ultimo include David Wei from Venuemob, Mat Beeche from Shoe String Media along with our latest small business launch, Saltuary who officially opened the door’s to their Himalayan Salt Room’s last week.

It’s fun making waves in an industry that is notoriously stale and grey haired and we’re proud of it…

Cheers

Aaron

 

Is emotion skewing your numbers?

Last week, I wrote an article for Shoe String asking whether the emotional attachment you have with your business is skewing your numbers? You can read this article here.

Some key takeaways that we think are really important for start-ups and small business to think about are:

  • If the time and money that you have invested to date won’t help you achieve your goals, it’s time to change your approach. It’s like the saying, ‘don’t throw good money after bad’, make sure that you don’t waste your valuable time or money on something that won’t help you get there. Often, it can be quite emotional to admit that what you have done hasn’t worked. We like to see it in the way that you shouldn’t look at the past to justify where you are heading in the future.
  • Build up a complete picture of your business and how it’s performing. This includes your numbers. Why? Because the numbers don’t lie and can’t be swayed by emotion. Plus, they will help you work out what doesn’t work quickly.

So use your numbers to help you make better and more informed decisions, including sometimes, the really hard ones.

Cheers

Emma

We Are E.S.T. 2012

Who WE Are

At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.

Nudge Accounting
100% Online Accounting
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FREE Business Health Check
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TESTIMONIALS

OUR COMPANY

OUR COMPANY Quality

With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting. Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.

OUR COMPANY Commitment

A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution. Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.

OUR COMPANY Success

Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out! Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you! Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!

WE HELPING SMALL BUSINESSES

Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:

  • Performance Management Reporting
  • Annual Tax Return Preparation and Lodgements
  • Annual Financial Statements
  • Financial Monthly Statements
  • QTR BAS Preparation and Lodgements
  • Monthly KPI's to Identify Improvement Areas
80
YEARS OF
EXPERIENCES
$250m
UNDER MANAGEMENT
REVENUE
$150m
TOTAL
ASSETS
100
% SECURE
CLOUD STORAGE

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