Starting a new business
In the future, using Digital Identity will make life simpler and save time and money for new business owners.
Alex is an IT specialist who decides to fulfill his long-term ambition of starting his own small business. He wants to get his new business off the ground as quickly as possible, particularly because he is the primary earner in his family.
Alex has a number of steps to complete including applying for an ABN and registering his business name.
A former colleague urges Alex to try using Digital Identity. Alex finds the process takes a quarter of the time it otherwise would have, and he also saves $128 in avoided costs.
Without Digital Identity
-
Register online to create new ABN, register for GST, register for PAYG and register business name
15 minutes -
Post certified documents to Australian Business Register for review and processing
105 minutes -
Login to online business profile and manage who is authorised to access account
15 minutes
Total: 135 minutes (2hrs 15mins)
With Digital Identity
-
Register online to create new ABN, register for GST, register for PAYG and register business name
15 minutes -
Login to online business profile and manage who is authorised to access account
15 minutes
Total: 30 minutes
Potential time saved is 1 hour 45 minutes. Save up to an additional 4 weeks by not having to wait for identity documents to be manually reviewed and processed.
