Choosing A Business Name- How Important Is It?

Choosing A Business Name- How Important Is It?

The name of a business has a huge importance and indeed it plays a very significant role. So, selecting the name of the business is one of the toughest tasks in the entire process. There are several steps that one needs to follow to ensure the best name for the business. The process is time taking and at times needs professional help.

Now the question is why a business name is so important? To understand the importance, you need to understand a few things:

• How do you want your business to approach to customers?

A business is said successful when it reaches the customers and makes significant business out of it. Now to ensure that the customers remember the name of the business, you need to come up with such a business logo or business identity that is easily remembered. Making the name complicated will make the business complicated too. If you do a small research, you will find that people/ customers remember those items that have a unique symbolic presentation/ Logo. It helps them to recollect the name and the product.

So, when you prepare the name of the business, always try to make it short but interesting. On top of that, you need to create a unique logo or pictorial description. Even for your metals trading in Singapore business you need to do such things.

• How will you do the marketing and sales?

Marketing is mandatory for a business, which in turn improves the sales figure and enhances the turnover. So, special care should be given on marketing as well as promotions. In promotions, the name of the business or business Logo plays a pivotal role. The more unique and interesting the name of the business, the more people shows curiosity in it. In fact, if you decide a very attention grabbing name for your metals trading business, you will find customers showing interest on it.

How to select a name?

How to come up with a catchy business name and logo? It is also an interesting story. Nowadays, you cannot just decide a name and move on. You have to search out whether the name/ brand name is available for creating the domain (for website). If not, then you have to try out the combinations (doing some permutation and combination) with the name and then finalise it. The availability of the name is the trickiest part, while registering the business name in the government’s database is also not a hassle-free task.

You need to register the business name under DBA (doing business as) so that the license, tax and other business letters are addressed to that name. Also, creating copyright protection for the brand/ logo is necessary to ensure your business’ authenticity.

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