The NZBN Register allows businesses to update their primary business data – such as business type, registered address and directors – in one place and it will automatically update on other databases, such as those of government agencies. This means you will only need to tell government your information once. This, in turn, will help reduce the time and cost businesses spend on things like form filling and data entry, and will improve data quality and reduce duplication.
According to Economic Development Minister, Steven Joyce, it will also “speed up dealings with government agencies.”
Over time your NZBN will become the main identifier you use to interact with a range of other organisations – eventually replacing some other numbers, such as Company Registration Numbers. It will become common to use your NZBN when dealing with customers, other businesses, your accountant, banks and government agencies.