Why the Right Name for a Business Is Important and How To Find One
Are you looking forward to starting a business in Ontario? Are you still on the fence about the name of your business?
Finding the right name for a business is one of the first things you need to do before you launch a business. The name needs to be brief yet descriptive enough of your values, trade, or other features. It also needs to be memorable and impactful enough to consumers or your target market.
In this guide, we’ll talk about the benefits of getting the right name for your business. We’ll also discuss how to find or decide on one. Keep reading to learn how to check that the business name is available before you register it.
Why Does a Business Name Matter?
In Canada, over 1.15 million or 97.9% of businesses are small businesses, having less than 100 employees. Over half of Canada’s small employer businesses are in Ontario and Quebec. In 2019, Ontario alone held 417,742 small businesses, while 236,705 small enterprises were in Quebec.
With a ton of other businesses in Ontario, many business names are taken already, but this doesn’t mean you won’t be able to find a great name for you business.
When you’re introducing a business to the market, people can make assumptions about it from only the name. First impressions last, and they may make your business memorable or forgettable.
Benefits of Having a Unique and Good Business Name or Brand
Getting a good name for a business isn’t only about making it unique and descriptive of your values or brand. The right branding also lets you stand out in a saturated market. It attracts the right audiences and target market to your brand.
The right business name can also set you up as an expert in your field. If consumers get this perception of you, they’ll trust your business and prefer your brand when they buy. With the right name, you’ll gain loyal clients, returning customers, and even referrals.
Finding Name for a Business
There is a wide variety of techniques and strategies when you’re picking a name for a business. One of them is to use linguistic ticks. Playing with words related to your business or services is one excellent example of this.
Another strategy is to consider how your business will look online. You can start by considering how the name will look when you write it down as the domain name.
Considering your trademark strength is one more effective way of naming a business. You can use one of the five categories of trademark strength. These are:
- Fanciful marks
- Arbitrary marks
- Suggestive marks
- Descriptive marks
- Generic marks
Once you have a name or a pool of names, test them out first. Talk to trusted friends and/or family members for feedback. Make sure they’ll respect your decision and won’t get offended if you don’t use the suggestions they offer.
Finding the right name can take time, so don’t worry if you don’t have a name you love right out of the gate.
Example of Naming a Business
Coffee is the most-consumed beverage among Canadian adults and other adults in the country. Let’s say you are looking for a name for a coffee business in Ontario. Let’s use the strategies discussed for finding the name of your coffee business.
With the domain technique, you can name your business “Jumpstart Coffee” or “Jumpstart Cafe.” The linguistic tick technique can get you a name like “Organic Ontario Ocoa.” Ocoa is a market name for a respected coffee from the Dominican Republic.
Try to collect a list of names for your business. Once you have a list of possible names, conduct a business name search. You can then use our Free NUANS Preliminary Search to check if the name is available for registration.
Find the Right Name for Your Business
Every business is unique, and so they each deserve a unique name, as well.
Now, you know how to find and check for the uniqueness of a name for a business. You can now start thinking of or looking for the perfect name for your business.
Once you’ve come up with a list of potential names for your business make sure to use our Free NUANS Preliminary Search to determine which names are available for registration.