Once you’ve made the decision to set-up a limited company; you’ll want to start thinking about choosing the right name for it. You might even already have a name in mind but there are still some important factors to consider before making your final decision. You want a name that is timeless, that will be approved by Companies House and suitable for an online presence. Although it is possible to change your limited company name later on, should you have a change of heart, it’s best to get it right first time to avoid the hassle that comes with revising it.

 

Questions to ask yourself

When determining what to name your company, there are a few questions we’d recommend you ask yourself:

  • Do you want your name to reflect your company or you as an individual?
  • How creative do you want to be? Would you consider creating a made-up word to standout, or choosing a unique name that would appeal to a specific clientele or perhaps you would prefer to appear more corporate and serious? The choice is yours.
  • Does your company name reflect the industry you’re in? For example, if you are an IT contractor, you may want to make it clear that you’re in this particular industry.
  • Does your name make it clear to clients what service you offer?
  • Do you plan to one day to diversify your business and would your name reflect this?

 

Make it timeless

Your limited company may for now be created for a specific purpose or service. However, as mentioned above, if you believe there is a possibility that you will want to branch out or expand your services in future, you could make the name more abstract or generalised so as to allow yourself the room to grow within your business, without having to amend your limited company name.

 

Stick to the rules

In January, we wrote an article on what NOT to name your company, and it covered the company names that were too offensive and subsequently rejected by Companies House. So, to save yourself the hassle, don’t opt for an offensive name in the hopes of being unique.

In the same article, we noted that there are words and phrases identified as too sensitive to be used for a company or business name. If you are set on using any sensitive words, you can submit an official request for approval from the Secretary of State.

In addition, certain words that are trademarked such as Google, Photoshop, Microsoft and even bubble wrap (!), cannot be used by other businesses.

 

Your online presence

When choosing your limited company name, we always recommend making sure the Internet domain name is available for purchase. Your digital presence is crucial to marketing your business and so ensuring your company name is the same as your domain name can improve your credibility as a trade. You can easily just search your domain name to see whether it’s available. Or you can visit a domain name registrar such as GoDaddy and you can do a domain name search through them.

We also recommend checking if your chosen name isn’t automatically associated with another company that already exists – do your homework and see what Google results bring back.

 

Is the limited company name even available?

Of course, before you go on to purchase an online domain; make sure the actual limited company name you’ve chosen is available. Companies House is currently running a search engine through which you can enter your proposed company name to see if any similar matches are found. If there aren’t then you’re free to submit it for your business.

 

How do you register your company name?

You can either go directly to Companies House to incorporate or you can have your accountancy service do it for you. At K&B Accountancy Group, we offer company registration and incorporation to our clients alongside continued support and guidance throughout the set-up and running of your limited company. It may feel like a daunting process, but at K&B we promise to make it clear, simple and stress-free.

 

Looking to switch accountants? You can switch to K&B for FREE without the need to pay for any ‘catch up’ or retrospective accountancy fees for the previous year’s accounts and corporation tax return*.

If you’re entirely new to contracting, let Cloud9 Umbrella handle things for you. For a limited time only they are offering new contractors the chance to trial their service. They will process your first payslip free of charge and if you love what they do for you, you can get another month free too! * Find out more and sign up today! *T&Cs apply