One of the very first and important decisions you will make when starting a new business, is to choose a company name.
Why? Well, first of all, your name will be the very first thing that almost all of your customers will see and a good name will be one that identifies your product or service while at the same time being memorable.
Top 10 mistakes in choosing and applying for a company name
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1.
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Spelling your company name incorrect on the application.
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2.
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Providing us only one or two names on your application (Please supply us up to 4 names)
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3.
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Not adding a description to your name (This is important - see example below)
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Naming your company for example Tarapic. This is not descriptive enough. Rather use “Tarapic Stationary” or something similar.
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Naming your company ACZWE Supplies or anything generic that no one will remember easily.
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Don’t give your company a horrendously long name that no one will remember.
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Don't call yourself Micro Computers or Fords Auto Repairs or you could end up in legal trouble. Also stay away from Trade Marks!
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8.
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Don't use the words Holdings or Group, unless you can actually proof that you are part of a group as this is a requirement.
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9.
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Don't use words “International” unless you specify import, export or international trade in your description.
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10.
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Don’t use the word “Enterprise”, if you do - qualify this with what you are going to do. (See example below)
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Example of a successfully company names submission application
(Use a business description with your company name)
1. Watson Engineering
2. Watson and Sons Engineering
3. Watson and Associates Engineering Services
4. Watson and Associates Engineering & Maintenance Services
Go with the professional name
If you are a business to business model, you are going to need to keep your business name professional. A good formula to use is to use your surname followed by what you do, for example, Smithfield Tailoring or Watson Engineering. You might also want to add the name of the town where you live, for example, Watson Engineering Alberton.
Small adjustments to this formula can make a big difference e.g. Watson & Associates Engineering Services also sounds good and professional.
Or leave out your name
You may wish to leave your name out altogether, and simply become Anytown Engineers. This makes you sound like the first choice locally, but on the other hand, this will make you sound a lot more generic of a company.
Going corporate
The dry corporate names are long gone. Today’s corporations are embracing hip, futuristic company names. A good trick is to think of a word that describes your business and then look up how it is said in Latin. Then, add a random suffix that sounds cool.
Playful names
Naming your business after a cute animal is sometimes the catch for many businesses.
This is a good way to get quick brand identity because everyone will be able to associate with your company name. It also leaves the door wide open for promotional tie-ins. If, for example, you call yourself the cheetah cab company, you might want to have your cabs painted with polka dots and use a cheetah as your company mascot.
The shortened name
More often than not, you come up with a good name but it's way too long. Microsoft, for example, is short for Microcomputer Software, and Fed-ex is short for Federal Express. If all else fails, a great way to make up a name is to just string together sounds that you like until you come up with a made-up word.
Chances are, the word will be memorable and unique. Think of “Google” and how that sounds and “Apple” for Macintosh Computers.
Whatever you do, make it easy!
Make sure your name is easy to pronounce and spell. Come up with something easier or you’ll lose out on an enormous amount of word-of-mouth business. You will also want to check for competitor’s names to make sure no one else is already using them.
Also consider checking the www.yourname.co.za domain if not already taken. Click here to search.
Keep your name truly unique!
Example: John’s Electrical is likely to be declined, but John Henry Electrical will qualify for registration, unless there is a company with the exact name.
Bottom Line
Keep the company name simple, unique and descriptive.