Choosing a business name is something that many new business owners approach far too casually. What they do not understand is that this is an important decision in the life of your business.
The name of your business will help to segment you from your competitors and reinforce what your company image is. Think about your brand positioning and what your line of business is and then work towards choosing a business name. Hence, you need to be smart when choosing a business name as it will support your brand, what is your brands focus and strategy, how do you want to be perceived and what will you tone of voice be.
When choosing a business name, keep in mind that it is a must to choose a name that shows what you are about and what your products and services are. For instance, “Bright and Shine Car Wash” could be a good name for a car wash service instead of naming it “Happy Tummy Car Wash.”
Business name registration is not the same as trademark registration, and does not come with the same rights and powers. For those who are planning to start a new business in Australia, everyone is obligated to register his or her business name with the ASIC or the Australian Securities and Investment Commission.