The Melbourne Institute of Applied Economic and Social Research expects both Australia’s annual employment growth and GDP to dip a further 0.6 per cent by March 2009. 
 
The motivations for starting a company are many and with projections of a slowing economy and tightening labour market now the norm not the exception, company registrations are once again on the rise. 
 
Registrations have risen every month this year – from 9730 in January to 13,789 in May, according to published statistics from the Australian Securities and Investment Commission (ASIC). 
 
Trend likely to continue 
On-line company registration provider Shelco, a division of QuickBooks developer Reckon Ltd, says the trend is likely to continue, particularly at tax time when accountants often advise it makes good tax sense to form a company. For starters, companies pay less tax than sole traders and risk is limited because, as a general rule, the owner’s personal assets are not exposed in the event of litigation. 
 
There are an estimated 2.5 million small businesses in the Australian Tax Office system, and while most would agree that managing their operations is becoming more complex, forming a company now can safeguard entrepreneurs with uncertain times on the horizon. 
 
Instant online company registration 
Shelco allows accountants to register their client’s company online instantly with ASIC, 24 hours a day, seven days a week. It’s a cost-effective and convenient way to prepare for the future while saving on taxes. As a bonus, each company registration made between 3-10 July 2008 will receive a complimentary copy of the new award-winning QuickBooks EasyStart 2008/09 QBi series software, valued at $139 RRP.  
 
Relevant links:

• The Institute: Member benefits from Reckon Ltd
• Shelco: home page