When starting up a new business, one of the first things you need to do is choose a suitable name for your enterprise. It is worth spending time considering the name, since not only will this be the first thing potential customers see, but it will also be with you for the duration of your venture.
So in choosing a name for your business, there are certain rules and regulations and few tips that you need to consider.
- After you choose a name it’s important to check out the relevant documents and catalogs for businesses with your name. Additionally, it will also help to go through the phonebook and yellow pages to see whether the name has been taken.
- For example, your new company may initially be involved in software resale, but further down the line you may expand your product range beyond software, so try not to restrict your name to something which may either date or which may not reflect the nature of your business in the future.
- Depending on the nature of your new business, you may want to present potential customers with a traditional sounding name (for example if you are providing professional services), or a technology or modern focused name if you are in the high-tech sector.
- Also be careful if your business is selling overseas since your business name may not go down so well in translation if you’re not careful!
- In addition, you need to specify the legal form of your business such as, (Public Limited Company or Limited or Unlimited)
- Every industry has certain conventions when it comes to naming. For example, you wouldn't likely call yourself "Zippy" if you were a law firm, but you would if your company makes toys and games. But you have to decide if you want to push the conventions of your sector in order to make your name stand out
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