What should you call your business?

Starting a new business can be one of the most exciting and challenging times; with so much to consider from finance, property, assets, service offering and the list goes on. One important element is your business name. How do you want to be portrayed in the eye of your customers? What will customers search for to find you? How will your business name stand out against others?

Choosing the right name will help create the image you want for your business. It'll also help to distinguish it from your competitors. There are a few important points to consider as you decide on your business name:

1. Keep it succinct, clear, and easy to remember

Historically, short and sweet business names have ruled and with good reason. One- or two-word business names will often be more easily recalled by customers. Not only that, but they can also be clear and concise on marketing materials, signage and down the line even things like print advertising.

2. Ensure it encapsulates the businesses brand essence

What do you want to be remembered for? Or associated with? Your business name should be able to convey a message that reflects your reputation and brand essence. Even ‘Google’, a word that did not exist once upon a time, now reflects ingenuity, helpful and ever-evolving.

3. Make sure it is available

Once you’ve come up with some options for your business name, you’ll need to check whether any other businesses are already using them. The Business Gov website has a checker which you can use to determine if anyone else has a similar name or has already registered the name you want, here.

4. Don’t be shy to road test it!

Market research can never hurt. If you don’t have the budget to road test your business name options, why not ask your friends and family? After all, every person you reach out to is a consumer of some product and they have a fair idea on who they would buy from and why!

The naming process can be tricky, however with some time and careful consideration you can build a great brand based on its name. Marketing Mag has put together some fantastic tools to assist with analysing and thinking about your business name. Read them here.