When you close your limited company, you will no longer be able to conduct business under that name. All of your company’s assets will be sold off, and any debts will be paid off. The company will then be dissolved and removed from the Register of Companies. Even if you didn’t do any business last year, you still have to file a federal tax return. The way the company is taxed affects tax filing requirements. A partnership or corporation may be taxed as an entity for tax purposes.
Tips for Choosing a Catchy Business Name
- Use acronyms. A lot of major companies use acronyms instead of their full names — it’s easier to remember.
- Create mash-ups.
- Draw inspiration from mythology and literature.
- Merge unrelated words or concepts for a unique twist.
- Choose names that evoke imagery or emotion.
Utilizing Online Tools and Best Practices
The easiest and most affordable way to come up with a name for your company is to use online name generators like Turbologo’s. These systems will quickly and efficiently generate appropriate options to consider.
We hope that our tips will help you find the perfect name for your brand. If you have spent a lot of time deciding on your perfect company name, make sure your name is within the recommended guidelines to avoid disappointment. Remember, if any entity or person lodges a valid complaint within 12 months saying that your name is similar to their company’s and is likely to be mistaken, the Registrar has the right to direct you to change your name.
Here are some simple tips for you to consider:
- Check for names with similar pronunciations. For example: Chong, Chung, Cheong / Yen, Yan, Yien / The Electron, De Electron, De’Electron etc.
- Check for names in a different sequence.
Insights on Branding and Creative Process
Did the founders of these massive companies sit around a table and smoke a bunch of weed to come up with their billion-dollar brand name(s)? I’m being facetious, but where it concerns branding and coming up with brand names, one thing has remained consistent — there isn’t one sure path.
As a copywriter, I get a valuable glimpse into how words and names power entire brands.
If you’re not feeling creative or don’t like the business name ideas you’ve come up with, try a company name generator online. There are multiple free options available. Check your business name idea against matching website domain names, social media profiles, and existing trademarks to ensure originality. Do a trademark search for your final-stage ideas to avoid legal issues.
Crafting an Unforgettable Business Name
- Keep the name succinct.
- Consider using acronyms.
- Align with your mission statement.
- Uppercase the first letter, as in "The Coca-Cola Company."
- Be strategic, creative, and technical.
Making Your Brand Stand Out
A business’s success relies on the quality of its product or service and the effectiveness of its marketing. However, making the business known starts with a memorable name.
Legal Considerations and Practical Tips
Choosing a business name is not simple, and ACRA registration approval is crucial. Keep in mind considerations such as your naming strategy, target audience, competitor names, and legal implications.
You can use a company name generator for free, which provides valuable guidelines and tips to help you pick a business name ideal for your business.
In conclusion, the perfect brand name should be evocative, inviting potential customers to learn more about your product or service.