What’s in a name? Deciding what to call your new business

There’s a lot of work involved in starting your own business, but before you can even register your new company, you’ll need to give it a name. This may seem like a simple enough task, but it’s an important one which will affect how you’re viewed by new and potential clients in the years to come. It provides people with their first clue about who you are and what you do – meaning that making a good first impression starts here.

So, even though you’ll probably feel like you have 101 more important things to do when you’re starting up, don’t let naming your business slip too far down your to-do list. It’s not a five-minute job and there are several important factors to consider if you want to get it right.

Is my name unique?

There are certain rules you have to follow when thinking of a name for your business. Your company name cannot be the ‘same as’ or ‘too like’ another already existing name. A name is deemed to be the ‘same as’ another one if the only difference between the two is punctuation, special characters or a commonly used word. Similarly, if your name is ‘too like’ another company’s, they may complain and it’s possible you will have to change it. Checking that nobody has already registered a company with your chosen name will save you time and stress down the line.

One way of ensuring your name is unique is to make it up entirely! Google, Kodak and Ikea are all examples of how a previously meaningless word eventually became a globally recognisable brand name. Of course, the downside to this approach is that your company name wouldn’t tell anybody what it is you actually do. On the other hand, it’s definitely another option to consider if you’re having trouble finding something suitable that hasn’t been taken already.

Is the domain name available?

If you want a website for your business, you’ll need to ensure that a domain name is available that closely matches your chosen company name. Typing your proposed business name into a website such as 123 Reg will let you know if the domain name you want is available. It may even be worth choosing your company name based on available domain names – that way you won’t be disappointed later on.

Does it give the right impression?

Your clients will expect you to be experienced, professional and good at what you do, and your name should reflect this. Naming your company something inappropriate for the message you want to send is not going to reassure potential clients that you are a competent and reliable company with whom they’d be happy to do business.

Will my clients be able to understand it?

Using unusual words, symbols or spellings in your name may seem like a good creative choice that sets your business apart from others in a crowded market. However, a company name that is difficult to spell or pronounce is not a good idea. You could end up missing out on a great deal of potential business if clients cannot spell your complicated name when typing it into a search engine, or if they cannot remember or pronounce it when talking about your company to others.

Similarly, it might be tempting to give your business a name that’s imbued with personal history and significance to reflect your journey to becoming a business owner. However, it’s important to remember that your clients don’t share that history with you and your company name still has to be comprehensible to a wider audience.

Is there room for my business to grow?

You’ll need to choose a name that will still make sense as your business grows and changes. For example, if you were to name the company after yourself, would this still work if you decided to employ more staff or if you eventually sold the company? Similarly, if your company name limits you to particular geographical location or a certain product or service, this will make it difficult for you to easily move offices or to expand your offer.

By Chloe Wingate