Choosing The Right Company Name
Choosing the right company name for your new enterprise is both a subjective and objective undertaking. Clearly you need to consider the customer, what they want and choose a name that they will be able to pronounce, remember and spell. But at the same time you need to choose a company name that you can be proud of. After all, it’s likely that you will be telling anyone and everyone about your new company, promoting your business wherever you go. Every time you answer the phone the name will be passing your lips. It will need to be something you can live with and something which is valuable to your company brand and the company as a whole.
You might want to choose a traditional sounding name, with local roots and old fashioned ethics or go completely the opposite direction and choose something modern and funky. What you choose should be based on the service/products you will provide and the very essence of the company itself.
Picking a Name To Get Ahead
There are simple factors to take into account when choosing a company name which might make a world of difference in your first days starting out. Simple things like choosing a name which is close to the start of the alphabet will mean that when you are listed in local telephone directories you will be one of the first names in the book!
Choose a Name That’s Descriptive Of Your Business
There are two ways to go. Pick an unusual, different name that stands out but might not necessarily relate to your service in any way or choose a name which describes what your business does. Each has its own advantages. A descriptive name will leave people with no delusions about what you do but it might not stand out from the crowd. Picking something funny, a play on words or a pun might be a good way to go, helping to keep it memorable, as long as you don’t make it too cheesy or awful.
Company Name Trends
As a leading Company Formation Agent, we’ve noticed a trend in chosen company names over the years. People commonly use “colour, animal, service” when choosing their company name. So you might end up with Pink Elephant Marketing or Red Tiger Softdrinks (as examples). Such simple yet effective techniques can make all the difference in the marketplace.
Is Your Name Available?
Clearly before you settle on a name, you will need to check that your chosen company name isn’t already in use. Check the local phone books, search the internet and carry out a company name search to see if your name is already being used by someone else. Bear in mind that a name might well appear free but still be registered as a trade mark. Carrying out a full, comprehensive search and registration will cover you now and into the future.
Don’t forget, depending on the legal structure that you choose for your company, you may be required by law to include certain words in your company name. The obvious one is limited companies, who are expected to include the term “limited” or “Ltd.” in their company’s name. Our page related to “Company Name Change” gives some examples of what should and shouldn’t be included in a company name and possible results of not fulfilling the requirements placed on you by the law.
Your Company On The Web
With the ever growing nature of the internet and the success of web 2.0 it’s essential for companies to have a web presence to get ahead in business. Failing to market your company online could mean the loss of potential revenue. The most obvious starting point is ensuring that the domain name for your chosen company name is available. Use our simple domain name tool to see if your company name is available for registration. It goes much further though. To get ahead on the internet you will need to think about accounts with Facebook, Twitter, Youtube, perhaps a blog (such as wordpress or blogger) and more, all registered with your company name so they are easy to find. Using these social networking sites is not just a way to get your website noticed on the internet but many businesses are using them to promote their company as a whole! Be sure you don’t miss out!
- Choosing a Company Name Part 1
- Sensitive Words
- Prohibited and Prescribed Business Names
- “Trading As” – Company and Business Names