Financial Blog

Finding the right name is definitely one of the most challenging steps in starting a business. You have to find the right balance between simplicity and creativity and make sure that it’s easy to remember. Choosing the right business name can have a huge impact on your success.

Here are our seven tips on how to choose the right business name…

Check availability

You need to make sure that the business name you want is available. After all, you can’t have the same business name with an already registered one in the Philippines. Checking availability will save you a lot of time and effort. Depending on your business type, there are also rules and regulations that you need to follow. Make sure that you’re following DTI or SEC’s guidelines regarding names.

For sole proprietors, visit DTI’s Business Name Registration System to check the availability.

Make sure it reflects your business

Having a name that doesn’t reflect your business could mislead your customers. You wouldn’t want your business name to be “Hot N’ Thick Burgers” when you’re not even selling burgers or “1-Day Laundry” when it takes more than 3 days to finish a single laundry.

You have to make sure that your name reflects your business and its promises. Think about your unique selling proposition and determine how it can resonate with your target audience. Ask yourself: “What is the essence of my business and is it relevant to my customers?”

Find balance between simplicity and creativity

You have to find the right balance between being simple and creative for your name. You wouldn’t want your business name to be too simple that is boring; or too creative that is hard to remember. Just find the right mix between the two.

A simple yet creative name can help your customers remember it easily and be on the top of mind. This helps them easily find you on search engines and social media. You might also want to avoid obscure names as it will be hard for your customers to grasp them, especially if you’re just starting out.

Avoid unspellable names

As much as possible, avoid unspellable names for accessibility. The easier the name, the easier it is for your business to be remembered. This also helps your customers find you easily on social media, search engines, and local directories.

Make sure it’s easy to pronounce

Your business name shouldn’t be a tongue twister. If your customers have trouble pronouncing your name, it will be difficult for them to remember and share your business with others. After all, word of mouth is one of the most powerful marketing strategies, especially for small businesses.

Read more: How to register your online business to BIR and DTI

Take note of your competitors’ names

When choosing a business name, you need to take note of your competitors’ names. Choose a unique name that distinguishes you from your competitor. You don’t want to have the same name as your competitor, or a name that sounds like your competitor. Rather, you should build your own brand and identity so your customers won’t confuse your business with a similar one.

Scan the web and social media

It’s important that you have an online presence for your business, especially that we’re entering the digital age. That’s why you need to scan the web and social media and check the availability of your business name. Check the web and social media if someone is already using it.

If someone already got dibs on your business name, you might consider tweaking it a little bit. You can add “PH” on your domain name and in your social media usernames. Get creative.

Or you can just think of a new one! That’s why it’s important to come up with other name ideas so you have a backup.