Lots of people have entrepreneurial tendencies, nowhere is that more evident than in the economy of the UK – with statistics released by Companies House showing us that 533,000 formations took place in the year preceding 31 March 2014. A huge number.
But what about if you have a great idea, but don’t want to commit to starting to trade right away. Well, you can register a business name in advance with us and start trading later – with all of your statutory obligations taken care of automatically in the meantime.
But what are the core benefits of registering a business name in advance?
Keeping Your Company Name Saved
There are moments in business when you simply feel compelled to do something different, to make a big splash and provide some originality that is inspired. But if you don’t want to lose out – you need to protect your idea and company name so that you can safeguard your idea.
Just having the idea by itself is not enough. The benefits of keeping your company name reserved include the following:
- It Stops People Using Your Name – If you’ve got an idea, it’s quite possible that someone else has had a similar one. Reserving a company name will make sure that nobody can come along and take the name from you.
- It Makes It ‘Real’ – You might have a brilliant business idea but then not do very much with it, as a result making it ‘real’ by reserving the company name will make it more likely that you will return to the idea at a later date and make a success of it.
- It Gives You Breathing Room – If you’ve been doing business for a long time you can more easily devote time and energy to a new idea. However many entrepreneurs are working as employees in the early days, and reserving a name gives you time to plan and return to the idea when you are ready.
Making the jump into your own business is incredibly exciting and gives you an amazing rush – even if you run your own business already, a new idea is an incredibly inspiring feeling. Keep your idea and company name safe by registering a business name in advance.
Register A Business Name & Keep Your Company Safe
The main benefit of registering a business name is making sure that your company is safeguarded for the future, and it can really help inspire you to go on and make a success of it. So when you reserve your company name remember that you are making a progression towards that – whenever you happen to start trading.
Don’t forget to check out the rest of our blog for more great information and updates. If you liked this blog the ‘Tips from the team’ section would be especially useful.
By Alex Novakovic at MadeSimple – Follow Alex on Google+