Sole traders, partnerships and trusts can now move a step closer to a faster and smarter way of doing business by registering for a New Zealand Business Number (NZBN).
NZBNs are globally unique numbers that are allocated to each New Zealand business and linked to key information about that business. While they sound simple, they have the potential to transform how businesses share key information – and how they interact with government and each other.
“We’ve heard it can take businesses a lot of time update their details with all the public sector organisations and private sector businesses they deal with,” says Mandy McDonald, the Registrar of New Zealand Business Numbers. “NZBNs will make it quicker and easier to make these changes.
“But more importantly, NZBNs will offer new ways to interact with other businesses. Some companies – including big players like Air New Zealand, The Warehouse Group and Foodstuffs – have already recognised the value of NZBNs and are using them to speed up interactions with clients or suppliers.
“Others are using the NZBN – and the core business information it’s linked to – to develop innovative products that have the potential to transform how we do business in New Zealand.”
While some basic business details linked to your NZBN are always visible, you can choose to make extra information public – like your trading name and contact details – to get further benefits.
“The more you share, the more you’ll gain, because others will be able to use that information to develop targeted products, services and support to help your business run as efficiently as it can,” says Ms McDonald.
Already, 575,000 companies have NZBNs, and sole traders, partnerships and trusts can now register for NZBNs too.
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The NZBN is a key initiative of the Result 9 – Better for Business programme, which focuses on reducing the costs to businesses of dealing with government.