Naming your company
You’ve decided to go for it and start your own company; congratulations!
So, what are you going to call it?
There are a number of things to think about when naming your company, will you go for a name that explains what you do, will you use your own name or will you go for a completely made up name!?
Bear in mind that you may want to conduct non-contracting business through the company one day so it’s import to pick a name that can grow with your business.
HMRC have some rules around naming your limited company:
- You must usually end your name with Limited, Ltd or plc
- Beware ‘Same as’ or ‘Too Like’ names as you will likely be asked to change your name is it’s too similar to one already in existence
- No offensive names- not that you would want to name your company anything offensive, but Companies House does not allow names containing offensive or sensitive words
Visit HMRC’s site to find out more about the do’s and don’ts of company naming strategy.
Picking a name for your company can be a really fun task but try not to get carried away in the fun of it and remember it has to have some practical applications.
Here are some things to consider when you decide on a name:
- How does it sound when you say it?
- How well does it describe what you do?
- Does it feel like the right personality?
- Can people easily say and spell it?
- Is there a relevant domain available?
If you follow the steps above you should have no trouble coming up with a great company name. When you’ve found one you think you like, ask for some feedback from friends and family as an objective opinion can completely change the route you take.
Also remember, if you choose a name and you don’t like it, you can always change it!