Choosing a business name must be done carefully, as it is one of the most important steps to take when considering to officially register and launch your business. Your business name is also one of the very important ways of business branding to create a market niche for the business. As such, you will want to consider what you want to put out there, what you stand for and what you hope to achieve. These will go a long way to help you settle on a very good name that will put across
the message you hope to share with your prospective clients, even so, more easily. You may consider these important tips when choosing a name for your business:
1. Use simple and short business names: An intended business name must be simple and short, as far as possible. This helps your clients to memorize and as well remember your business name very easily. Simple and short names are also easy to find online , especially if they are not hard to spell names. Most of the globally known powerful brands like Amazon, Coca Cola, Apple, Nike and Adidas have clear and simple names.
2. Use a name that conveys some meaning: The selected name for your business should be meaningful and be able to convey a message of what your business has to offer to your market segment and audience. It should also be void of any ambiguity,as this will go a long way to help in your branding and marketing efforts, thereby reducing this cost element.
One may argue that there are several big brands with names which do not in any way suggest what they do as a business. This is very true, but will in the long run increase your branding and marketing cost as more efforts will be required to put exactly what you do in the minds of your target audience.
3. Use a catchy name : Although our earlier points have emphasized on simplicity, it does not take out the fact that having a “catchy” name could be a bonus for any startup business. Usually, people resonate faster with catchy names and elements and having one will be one of the smartest ways of getting your business name registered in the minds of your target audience. It must however be noted that choosing a catchy name in no way suggests copying or imitating names of already known brands or picking exaggerated names which will rather cloud the target audience’s ability to grasp and relate to the business name.
4. Cross-check with Registrar General’s Department (RGD): Upon settling on a name (having considered all the above), you need to promptly check in with the Registrar General’s Department for the availability of the chosen business name. The Registrar General’s Department(RGD) is the regulatory body responsible for the registration of business names and businesses(organisations) in general in Ghana. It is therefore advisable to crosscheck with RGD to know if you can go ahead to use the name you have chosen. It is highly recommended that even before you start full operations, you do all the name checks before putting the name out there to prevent having to change your business name subsequently, if it is to be found out later that the name you have chosen is already taken and unavailable, hence the need to change the name.
Do you need more clarification or assistance with choosing your new business name? Do you need assistance with your business registration and documentation? Call us now on 030-295-1447 or visit our website on www.launchapp.co for further information and prompt assistance.