How to come up with a business name

Table of content

Why is business name important?

How to choose a business name

What makes a good business name?

How to register business name

How do i trademark a business name?

How to change your business name

How to find if a business name is taken

Can a sole trader have a business name?

Can i add my business name to my bank account?

Why is a business name important?

A business name holds great importance as it is the primary point of interaction between a company and potential clients or customers. It shapes their perception and can effectively convey the mission, culture, and values of a company. A well-chosen name aids in differentiation, making a company memorable in a competitive market.

A unique and original name eases the process of securing a domain name and establishing an online presence. An appropriate business name builds trust and credibility, signalling professionalism and reliability. It’s important to be mindful of using a confusing or similar name as it may impact building an online presence. In summary, a business name forms the first impression, provides vital information, supports marketing efforts, and contributes to a company's overall reputation.

How to choose a business name

When choosing a business name, it's essential to consider its relevance, uniqueness, and memorability. Your business name should reflect your brand's values, products or services, and target audience. It should also be easy to pronounce and remember.

Here are some steps to guide you through this process:

1. Understand your business: Start by understanding what your business stands for. Your business name should reflect the essence of what you are offering.
2. Brainstorm: Gather a group of people you trust and start brainstorming business name ideas. Write down all the names that come to mind. Do not discard any suggestions at this stage.
3. Check availability: Once you have a list, check if the names are available. You can do this by searching online or checking with your local business registry.
4. Get feedback: Share some of your top choices with potential customers, friends, and family. Their feedback might give you new perspectives.
5. Consider the future: Choose a name that will still be relevant as your business grows and evolves.
6. Make it unique: Your business name should stand out from your competitors. It is advisable to avoid using generic words.
7. Test it out: Say the name out loud, write it down, and imagine it on a business card. How does it look and sound?
8. Register the name: Once you have chosen a name, register it to protect it. This process will vary depending on your country of operation.

What makes a good business name

A good business name is short, simple, and easy to spell. It should also be unique and not already in use by another company. A creative or clever play on words can make your business name stand out and be more memorable. Additionally, your business name should not limit your brand's potential for growth and expansion. For example, if you plan to expand internationally, avoid any words with specific geographical references.Here are several key qualities that make a good business name:

Authenticity

Choose a business name that truly reflects your company's values and vision. Customers appreciate authenticity and are more likely to trust a business that stays true to its roots.

Uniqueness

Stand out from competitors by selecting a distinctive name within your industry. A memorable name can help your business leave a lasting impression.

Simplicity

Opt for a simple and concise brand name. Customers find it easier to remember, enhancing brand recall.

Relevance

Choose a name that evokes your brand or business purpose. This establishes an immediate connection with your target audience.

Scalability

Ensure your business name can grow with your company. Avoid names that may limit expansion into new markets or product lines.

Emotional connection

Create a brand name that resonates emotionally with your target audience. This emotional appeal can foster stronger customer loyalty.

Legally defensible

Prioritize legal availability by checking for trademarks and domain availability. This helps prevent potential legal issues in the future.

How to register a business name

For businesses in the UK registering a business name can be done easily through Companies House. Use their name availability checker to ensure your chosen name is available and not registered by other companies.

How do I trademark a business name

In the UK, the process to trademark a business name begins with ensuring your chosen name is unique. You can do this using the trademark search service provided by the UK Intellectual Property Office (IPO). If your business name is indeed unique, the next step is to apply for a trademark. This application can be completed online through the IPO website, and it involves describing your brand, listing the goods and services it applies to, and paying the application fee. Keep in mind, the process of obtaining a trademark in the UK can take up to four months, and the trademark is valid for ten years. It's vital to renew your trademark every ten years to keep your brand protected.

How to change your business name

If you decide to change your business name, make sure to update all legal documents and notify the relevant authorities. This involves registering the new business name and trademark if necessary. Additionally, inform your customers, suppliers, and partners about the change. Don't forget to update your website, social media profiles, and business cards as well. Conduct a thorough search to ensure there are no trademark conflicts or infringement with other businesses using the same name.

How to find if a business name is taken

Before choosing a business name, it's crucial to check if it's already in use by another company. You can do this by conducting a business name search on your country's government website or using online databases. It's also recommended to do a trademark search to ensure your chosen name is not protected.

Can a sole trader have a business name?

Yes, a sole trader can have a business name. In fact, many sole traders prefer to use a distinct business name rather than their personal name for branding purposes. This allows them to create a unique identity and establish a stronger presence in the market. However, it's crucial to register the chosen business name and conduct a thorough search to ensure it's not already in use by another company.

Can I add my business name to my bank account

Yes, you can add your business name to your bank account if you have registered it. This will help customers recognize your business and make payments easier to track. By associating your business name with your bank account, you create a professional image and establish credibility in the eyes of your customers and partners.

Most banks require official documentation, such as a certificate of registration or articles of incorporation, to add a business name to an account. This ensures that the bank has verified the legitimacy of your business and provides an added layer of security for both you and your customers.