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Single business number useful for all business

Single business number useful for all business

Extending the single business number to all businesses, not just registered companies, is a better fit for New Zealand business, says ManufacturingNZ.

The single business number (SBN) system provides companies with a consistent way of dealing with government agencies and reduces the time and cost of dealing with government.

All registered companies received a unique business number last year. Today the Government announced that all business entities, including sole traders, partnerships, trusts and not-for-profits, would also get an SBN.

ManufacturingNZ Executive Director Catherine Beard said the move reflected the fact that many New Zealand businesses were small and were not registered companies.

“Extending SBN to all companies will help lower compliance costs for all, and will help growth of smaller businesses,” Catherine Beard said.

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