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NZBN or New Zealand Business Number- Why is it needed?

Some of you will have been advised that your company has a NZBN. This is a new number that has been allocated to each company and is now showing on the Companies Office Register.

What is the purpose of the NZBN?

This is the first step towards allocating a NZBN to all businesses in New Zealand, and creating a single searchable public register of businesses. It is being promoted as a positive for Government to have more consistent and joined-up services, saving businesses time and enabling greater e-commerce between businesses, I think we will wait for proof on that one.

Currently they are working on how to allocate this number to other businesses, eg partnerships, sole traders and trusts.Monteck Carter will keep you posted.