How many times have you come across a company’s name which has stuck with you for a long time? That is the power of a name, it leaves an impact, and between the lines tells a story too. Many businesses have also failed because of their name. Scary, that’s how much importance a name carries. Hence when it is time for you to choose a name for your business you really need to know how to choose a business name.
When choosing a business name there are certain things you need to keep in your mind:
A complicated name is not a good idea
Certainly, you want a name that stands out and is unique but, in the process, you need to keep in mind that you do not want to confuse your potential customers. How can anyone find your business if they cannot even spell/pronounce your name?
The best option is to keep it simple but not something so ordinary that it’ll never stay out in the crowd.
Pick a name that does not limit your business’s growth
When choosing a business name in the UK you don’t want to limit your business to a particular product or a specific city. Picking too narrow of a name may cause you problems down the road.
Pick a name that does not associate you with one particular product or service unless you don’t plan on expanding your horizons and staying loyal to that specific product or service.
This name is not being used by any other company
Once you have come up with a name make sure to do your research on it particularly, that no other company exists with that name. If another business does exist with the same company name then you have to go all over the process of finding a name again. But if you still plan on naming your business the same then a legal case might just be coming your way. Trademark and copyrights breach may land you in hot water with the law.
Does the name make a good first impression?
You may think about how choosing a business name is difficult but it really is not all you need to make sure is:
- It is catchy
- Isn’t similar to other businesses in your industry
- Justifies your business’s product/service
- Sounds good when said out aloud
- Reflects on your business positively
- Is easy to remember
- It’s not so obscure that the customers would never know what it means
- A name that conveys meaning
- Name that is not dull
Get a domain name
Secure the “.com” domain name for your business as opposed to options, for example, .net, .org, .biz, or other conceivable domain augmentations. Clients will in general partner a .com name with a more settled business. There is a possibility, somebody might effectively claim your ideal .com name, yet numerous area proprietors are happy to sell their name at the correct cost.
You are content with the business name
While choosing a business name, going through all the process of how to choose a business name, and then finally choosing one what many employees forget is to be sure that the name you have picked makes you happy and you are absolutely content with it.
You as the entrepreneur will live with the name for quite a while, so ensure you are satisfied with it and trust it will reverberate with your clients.
Contact our small business accountants for more suggestions about your business name