From January 1 next year Western Australian businesses will no longer have to pay a $75 fee to renew their business name registration.
Fair Trading Minister Doug Shave said the change would reduce costs to WA businesses by about $2.6 million.
“I am confident the abolition of this fee will be welcomed by businesses,” Mr Shave said.
Owners of registered business names will still be required to renew the name every three years but at no cost.
“The business names register is important as it enables the public to know who owns a business and ensures that the same name isn’t used by more than one business,” Mr Shave said.
The dropping of the renewal fee fulfils a Government commitment and is part of its program to keep red tape on business to a minimum.
“Small business growth in WA and the introduction of the GST in July produced a 20 per cent increase in the rate of business name registrations for the six months to last June compared with the same period the previous year,” Mr Shave said.
“In the 1999-2000 financial year 31, 780 new businesses were registered with the Ministry of Fair Trading, a 12 per cent increase on the previous year. This increase compares with a rise of just 2 per cent in 1998/99.”
Mr Shave said there were now more than 200, 000 businesses registered in Western Australia.
The growth of e-commerce business activity also contributed to the increase as more domain names were being registered as business names.
Trends in new businesses indicated growth in domestic services such as lawn-mowing and cleaning.
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