16 Feb Choosing your business name
Your business name can have a big impact on it’s success.
It’s not something you want to change down the track – you need to choose a name that embodies your business.
Start by creating a list of words that come to mind when you think about your business. Write down as many as you can think of. Then start putting the words together and see if you can come up with a shortlist of possible business names.
Put your shortlisted business names to the test
Is it memorable?
Your business name needs to be easy to remember, don’t over complicate it or make it too long. If someone remembers your business name they are more likely to recommend it to others. When shortlisting your favorite names, try to avoid any that are too long or complicated to say.
Is it relevant?
Does your business name allude to what your business offers? Ideally your business name should give your potential customers an idea of what you offer.
Is it distinctive?
Does your name stand out from the crowd or does it sound similar to another the same industry as you? The last thing you want is for clients to get you mixed up with another business of a similar name!
Will it stand the test of time?
Will your business name allow your business to grow and evolve and still remain relevant? When you first start you might only offer one type of product or service but over the years you may expand and have more products or services to offer and your business name needs to consider this.
Is it available?
Once you’ve narrowed down your favorite business name options – you need to check whether they are still available. This may be the deciding factor!
You need to check the following are available:
- Business trading name. You can check this through ASIC.
- Trademark availability. This is the most important thing to check! If your name isn’t trademarked, you don’t have exclusive rights to it, regardless of whether it’s your business name! You can check this on IP Australia.
- Domain names.
- Social media handles. Whilst it’s great if these can match your trademarked name, it’s not the end of the world if they can’t as most people will find your socials