Are you planning to set up a business in Australia? If yes, then you must choose an appropriate name for it to differentiate it from that of your competitors. Your business name is an asset and identity of your business. To make sure it is easily identifiable to your customers and authorities for the purposes of taxation and licenses, it is necessary to get the business name registered. Business name also allows your customers to connect with your business emotionally. Hence, it is prudent to register your business name with the authorities.
Things to keep in mind when you choose your business name
Before moving ahead, it is important to keep in mind certain things when choosing a name for your business. You don’t change the name of your business often. Therefore, it is important to research a bit on the name and come up with a name that is relevant and appropriate for your business. It should reflect the nature of your business and the services offered to the customers.
Short and Sweet!
It is not necessary to include the names of products and all the services offered by you in your business name. For example, the inclusion of the word motors in the business name is enough to cover the products and services offered by the company involved with automotive business. Choosing a name that is too long or contains difficult to pronounce words will make it difficult for your customers to remember it. You must keep the business name simple so that it becomes a household name like Apple and Samsung.
Name length, spelling, and pronunciation are important factors to keep in mind when choosing the name of your business. It could easily be a disaster for your business if your customers can’t pronounce its name with ease. The same is the case when businesses choose a very hard spelling that is hard for the customers to remember. Finally, your business name should not be very lengthy as customers prefer businesses that they can easily remember and talk about.
Choosing such a name allows your potential customers to easily know what they can expect when approaching your business. Always keep in mind, your future plans when the business will grow and diversify. It means that your business name must be futuristic in nature to easily accommodate the direction in which your business moves in future.
What’s in a name, Shakespeare had said famously to emphasize the qualities of a product. However, naming a business on your likes or a person you idolize can backfire in present times when there is such a cutthroat competition among businesses in Australia to catch the attention of their customers.
Finally, you have to find out if the name you have chosen for your business is available with the authorities or not. You can check the availability of the name with the website of Australian Securities and Investment Commission which is also the agency that registers the names of the businesses operating across the country. Naming a business is a simple and straightforward process that you can complete by following the instructions on https://asic.gov.au/for-business/registering-a-business-name/#howto.