Hi - business registration of a name is not about protecting a name, but rather to assist consumers to identify individuals behind a business name so the purposes of suing them. In order to protect the name you need to trademark or bring an action for passing off. Passing off is using name or symbol to suggest association with a brand or business, when there is not one. Also very similar is not the same as exactly alike. I would suggest that if you which to protect your business name that you investigate trademark.