A Business is an entity that is registered with ASIC (e.g. a business name or SMSF auditor). To register a business, business name or a trading name is virtually the same thing.
If you're thinking of starting a business, you will need to look at the advantages and disadvantages of each different business structure and work out which structure best suits your needs.
The most common types of business structures in Australia are:
Before deciding which business structure to use, it is important you seek advice from a professional business adviser, a lawyer or an accountant.