Whether you’re buying a ready-made company or starting up your own, every business needs a name. And it is vitally important to choose the right one. The choice could be the difference between your company becoming a great success or disappearing into obscurity. Choosing the right name can be a complicated process and there are a number of factors to consider before taking the plunge.
Picking a Business Name
We’ve put together some useful tips to help you choose the perfect name for your business:
Keep it simple
Choose a name that is easy to say and spell. Shorter words are preferable as this makes it easier for your customers to remember you and find your business. Your company name should be easy to pronounce and not contain hyphens, special characters or too many syllables.
Make it memorable
Everyone should aspire to have a company name that stands out from the crowd. Use your imagination to come up with a name that is unique and sums up your business effectively. You should avoid using words and phrases that are likely to age over time.
The owner’s name
You may wish to name your business after the owner(s) name or initials. This is simple and effective and can demonstrate pride in your business. Successful examples include ‘John Lewis’, ‘Johnson & Johnson’, ‘Ben and Jerry’s’ and ‘Ford’.
If you’re trading in the international market including online, it is important to check the company name does not have any inappropriate meanings in your target countries.
Don’t limit your horizons
If your business is a big success, you may wish to expand into areas you had not previously thought of. Therefore, don’t limit your horizons with your company name. Avoid tying yourself down with locations and specific product categories, as this will only confuse your customers in the future.
Once you have a shortlist of company names, why not try these out on potential customers or investors? Seek feedback by asking their opinions to ensure the company name gives the right impression for your business.
It may be obvious, but you must check the name you have chosen is available for use. You can check the availability of a company name on the Companies House website.
If you’d like to take the stress away from choosing your company name, you’ll be pleased to know that we are here to help you! We have an extensive list of Companies House registered company names to choose from. This will help save time and eliminate the risk of finding your dream name, only to realise that it has already been taken.
We also offer an excellent company name change service for only £29.99 +VAT, enabling you to quickly change your company name in just a couple of hours!
For more information on how Paramount Formations can assist in choosing the perfect company name for your new business, or changing its existing name, please contact us on 0800 0198 698.