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Choosing a name for your business
It has been said that naming your business is as difficult as
naming your first child! This seems a little over-the-top, but
it is certainly important to choose a name carefully.
If you are operating as a sole trader or partnership, you do not
have to register your trading name anywhere. If you are planning
to operate a limited company, then you will need to register the name
with Companies House.
Assuming you already have ideas about your business name, you ought
to check they do not exist already. Companies House has a free
web-check service which allows you to search for existing registrations.
If you incorporate your company through an agent, they will check for
prior registrations for you.
NAMING TIPS
- Some people call their companies after themselves, but many would consider names like Joe Bloggs Limited fairly unexciting. Having said that, if you can incorporate your name into your business sector or main product - for example BloggsTech Limited the name can be quite distinctive.
- Some companies are anagrams or corruptions of their founder's name(s) - Xela is simply the name of a founder (Alex) in reverse.
- Companies with clever sounding or very slightly risquee names can work well, dependent on sector; Buck & Follocks PLC being one such example.
- Names entirely based upon the sector or product; for example TheFitmap, SpaceandPeople, GrandPrixSport or any of the tens of thousands of others.
- Nonsense names ; names which have by massive marketing efforts, or luck have become recognisable in their own right; for exmaple Amazon, Esso, Sony, Rolex, Pentax, Safeway, etc.
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