Congratulations, if you have decided to kick-start your business venture! It means that you have got a great idea. You’ve started working to turn that idea into reality with a viable business plan and have acquainted yourself with your potential client base. Now, you’re almost ready to start your venture, the only thing that is missing is the business name. No matter you want to establish your business as a sole trader or a limited company, you need to give an identification to your business with a unique brand name. For this reason, you need to understand how to name a business? In this blog, you’ll also explore the 10 tips to name your business.
Let’s delve in!
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How to Name a Business?
Naming is the first step that you need to take before setting up a business. You should choose a name that represents you, your business, and what it does that will make you stand out from the rest of the crowd. So your business name can be anything unique that tells what you do.
Naming Sole Proprietorship
In the UK, there are different rules to choose a business name for sole traders and limited companies. If you want to form your business as a sole trader, you can’t:
- Use an offensive name
- Use the same name of an already existing business
- Include limited, ‘Ltd’, limited liability partnership, LLP, a public limited company (plc)
- Suggest a link to any local or government authority without permission
Naming Limited Company
Before setting up a limited company or LLP, you’ll need to register with Companies House (the UK register for companies)
If you’re up to name a limited company, here are the things that you need to consider:
- Your company name is available – you can find it in the Companies House name availability checker
- You have registered it as a trademark to prevent others from using it
- The name doesn’t contain any sensitive words or expressions
- You have kept this name consistent in your application and other documents
After considering all these points, you can register your Ltd company name with Companies House.
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10 Tips for Naming Your Business
Here are the things that you need to consider before naming your business:
1) Simplicity and Brevity
Your business name needs to be small (up to two syllables or ten letters) and simple, which is easier to remember by the general public and can be searched on google easily.
2) Use a Flexible Name
Consider a name that is flexible enough to adapt with your business growth. Don’t choose a name that you might change in the future.
3) Make it Timeless
Your business name should not be limited to certain dates or a timeframe. It needs to be timeless that can be used even after decades.
4) Make it Discoverable
Choose a name that gets you organic web searches for your website on Google. Your name should be unique and it should be easy to spell. Do your research before finalising a company name that whether it is a good name for the search engine. If there is a high competition of your name with big brands, examine it carefully before making the final decision.
5) Connection
You need to look for a name that evokes a connection and is easily understandable to your audience. A common example of it is PayPal. ‘Pay’ shows what it does and ‘Pal’ represents the connection.
6) Get a Domain Name
It is advisable to get a .com domain name instead of .net, .org, etc. Customers consider the .com domain name a more established business. There is a possibility that someone else already holds the name you desire, however, there are many businesses that are willing to sell their name at the right price.
7) Choose a Catchy Name
Don’t choose a boring name. Choose a name that is catchy, simple and that speaks the voice of your brand. This name needs to match the feeling of your target audience.
8) Get Feedbacks
Choosing a name could be overwhelming, so you need to take help from your colleagues, friends and family members to finalise a name. Select a name with a positive connotation.
9) Get Help from various Resources
To brainstorm your name, you can get help from many online resources like:
- NameMash
- Naminum
- Shopify Business Name Generator
- Visual Thesaurus
10) Make Sure you Love the Name
As a business owner, you are going to live with the name for many years, even for a lifetime. So, you need to choose a name that you love and are happy to use in your business.
Quick Sum Up
To sum up a discussion of how to name a business, you need to consider various factors beforehand to choose the right and most suitable name for your business. Remember your name should represent you, your business, and the work you do. Moreover, it should be short, simple, and need to resonate with your customers’ needs. Whilst deciding the name, bear in mind the rules and regulations given by the legal bodies.
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Disclaimer: This blog provides general information on naming your business.