So you’ve decided to form a business. That’s fantastic! More and more people are taking advantage of the interconnectivity that the internet has given us to start their own enterprise. With many schemes and initiatives now in place, not to mention a huge amount of investment, it’s plain to see that startups are getting taken very seriously indeed in this economy.
But there is sometimes a small issue when it comes time to register a business name. What do you actually call it? You’ve got a great idea, a solid business plan – but the name doesn’t quite pop. Here we will explore how to choose and go through step-by-step how to register a business name.
Suddenly thought of the perfect name? Register a company now with Company Formation MadeSimple and be incorporated within 3 working hours. Otherwise, let’s explore how to pick a great name in a bit more detail.
Choosing Your Business Name
The task of actually choosing your business name can be a very arduous one. There’s a tendency to think that the name is set in stone, and although it’s not that much fun to keep changing your name back-and-forth – remember that you can always change it, so don’t worry too much.
Business reported Kabbir Chibber wrote for the BBC in 2014 that “Start-ups are like newborns and, just like children, the wrong name can scar for life” but then goes on to point out that many successful companies (such as Sony which was called Tokyo Telecommunications Engineering) have changed their names.
Even if it’s just a simple brand tweak (like Facebook starting out as ‘The’ Facebook) it’s entirely possible to change – if you need to. That being said, bear the following in mind when thinking about your name:
- Certain Things Are Inappropriate – Companies House have strict rules about what you can call your company. You cannot use bad language and certain terms like ‘Foundation’ or ‘Charity’ are protected. Read the ‘Incorporation & Names’ document from Companies House – they are a good resource and it’s beneficial to get all the nitty gritty details straight from the horse’s mouth.
- Keep It Simple – We’re all about simplicity, and your company name should ideally be short and sweet. A snappy name is much more brand friendly than a long, convoluted sounding name.
- Give Your Business Name Good ‘Character’ – Kabbir Chabbir quotes David Placek (founder of brand-name consulting firm Lexicon) in his article as saying “Some words have characteristics that fire the imagination and generate interest. Don’t underestimate the power of a brand name to achieve things on its own for you”.
A good tip is to think about your values, try and come up with 3 or 4 to help you find a direction. So if your values are ‘Strong’, ‘Professional’ and ‘Accurate’ then a more serious business-like name may be appropriate – whereas if your values are ‘Fun’, ‘Outside-the-Box’ and ‘Creative’ a lighter and more fun tone will work.
So, if you were at a loss as to what to call your company – you should have a better idea now. If you’ve got those creative juices flowing – it should be much easier.
Step-by-Step – Setting Up Your Company Name
Okay, so you’ve come up with an idea for a name. That’s great, now let’s register a business name for your company and start trading – just follow this guide.
First of all, head to the Company Formation MadeSimple ‘Homepage’. You will see a search box saying ‘Is your company name available?’. Type in your proposed company name and click the ‘Search’ button:
We are synced with Companies House, so you can instantly check if your proposed name is available. If so, great! Just scroll down and start the process to register a limited company. The ‘Privacy Package’ is very popular amongst our customers – as it gives you a ‘Registered Office Address’ to keep your business and personal addresses separate. Choose and click ‘Buy Now’:
3. You will now arrive at the ‘Checkout’ page where you will get some wonderful free extras to help your business on it’s way to success, including a ‘Barclays Bank Account’, ‘Fraud Protection’ and a ‘Business Start Up Toolkit’ when you choose the ‘Privacy Package’:
That’s it! From there you can enter your username and password, if you are a returning customer, or fill in your credit or debit card payment details (you can also use PayPal) and click submit – your company will normally be formed within 3 business hours.
Reserve A Company Name If You’re Not Ready To Trade?
Sometimes you get the name for your business before the idea is fully formed. There are plenty of different names for the taking, and one might well suddenly come to you and seem perfect – even if your idea and business plan is not ready yet.
This is where our service to reserve a company name comes in handy. We will register your names and take care of all the company requirements on your behalf. So your business is ready to go as soon as you’re ready to trade.
Choose & Register A Business Name For Your Business The Right Way
Although it’s entirely possible to change and rebrand in the future, it’s always nice to have a really solid idea of your business name and brand to being with. Hopefully this little tutorial has helped you in that regard, and you can more easily make the jump into your new enterprise without worrying about the name – so register a business name now and start trading.
Thanks for reading. Don’t forget we’ve got a whole lot more information on our blog, particularly relevant would be the ‘Company Name’ section – so check there for more great tips and updates.
Click to learn more about company formation for professionals or our Cosec company management tool.
By Alex Novakovic at MadeSimple – Find Alex on Google+