Choosing a business name is a very exciting part of starting a new business! Some find it easier than others to decide on a final business name, and if you have business partners who equally have a say on the name of the business, our tips below could help prevent you from wasting time, money and energy when coming to trademarked names.
So what should you consider?
It can be easy to focus on coming up with a name that is fun, quirky or personal, however, you really need to consider what persona your brand is trying to convey. You may want to You have to consider your brand identity is looking for, a solicitor, for example, they will want to know the company they are using our professional, trustworthy and mature so calling your business ‘Fairy Magic Solicitors’ may
It is of course important to include personality in your business name, especially if you are a sole trader or if people will be working with you directly. If you are the face of the brand, and you intend to be long-term a common addition to a business name is a surname or surname mix.
If you come up with a business name and head straight to creating your logo, you may find that another business already uses that name for a similar or a completely different brand. Once you have a few names in mind, take to Google first. Google the idea and see what comes up, consider if your brand will be confused with another or if there is existing bad press connected to the name.
Next conduct a digital availability check.
Head to a domain registrar such as One.com, 123Reg or Namecheap, and check to see if the domain is available. You may find that the ‘.co.uk’ address is available but not ‘.com’ and this may not suit your business if you want to service and have website visitors across the globe.
You may also want to check for available social media handles. Your newly, launched in 2021 business would work for the time being with the username @mybusiness_2021 but in 12 months’ time, this will feel dated and you may not be able to change your handle. Even if you can change your social media handle, your existing customers will know you as @mybusiness_2021 so it is important to think forward.
This is one of the most costly mistakes in regards to naming a business, but it is actually quite easy to check. You can check for an existing trademark of a name at IPO.GOV. Choose from the list of categories your business fits into (if in doubt, select anything that is vaguely related or that you may want to expand into at a later date).
You don’t have to trademark your name, but this does mean anyone else could also use this name too. If you choose not to trademark the name but another business decides they will, you may be forced to change your business name even if you existed first. Trademarking costs around £200 online, but here is a full breakdown of costs here.
Naming your business is a very exciting part of your business journey, so we hope these tips are helpful! If you would like further start-up business guidance you can book 1-2-1 sessions with our business consultant in Plymouth, Exeter and Newton Abbot as well as on Zoom and by phone call.
Call us today to arrange a free 15-minute consultation on 07716051514.