Naming Your Small Business
2/22/2012 12:00:00 AM
There are many decisions to be made when you are planning to open a new small business. Should you take a lease on business premises or work from home, should you purchase a Business Owners Policy, Nevada commercial insurance or rely on home insurance?
There’s another important question that will be on many people’s lips: what will you call your business? The business name you use is an important part of the branding of your business. As a solo business operator you have two options: use your own name as the name of your business, or adopt a formal business name. What are the benefits and disadvantages of using your personal name as the name of your business?
Using your own name as a business name is a quick and easy way of creating a brand. This option involves fewer legal formalities and in some areas you may not be required to register the business name, so it may also be a more affordable solution and worth considering if your budget is tight.
Having your personal name as your business name can have disadvantages. It limits your ability to use your business name as a quick reminder of what your business does. Using your personal name also limits the potential to sell your business in the future.
You won’t be making important financial decisions about Nevada commercial insurance without thinking them through, and it’s equally important to give careful consideration to your business name and brand. Your choice of business name may have a significant influence not only on the image you project but also on the direction you follow.
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There’s another important question that will be on many people’s lips: what will you call your business? The business name you use is an important part of the branding of your business. As a solo business operator you have two options: use your own name as the name of your business, or adopt a formal business name. What are the benefits and disadvantages of using your personal name as the name of your business?
Using your own name as a business name is a quick and easy way of creating a brand. This option involves fewer legal formalities and in some areas you may not be required to register the business name, so it may also be a more affordable solution and worth considering if your budget is tight.
Having your personal name as your business name can have disadvantages. It limits your ability to use your business name as a quick reminder of what your business does. Using your personal name also limits the potential to sell your business in the future.
You won’t be making important financial decisions about Nevada commercial insurance without thinking them through, and it’s equally important to give careful consideration to your business name and brand. Your choice of business name may have a significant influence not only on the image you project but also on the direction you follow.
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