I have a firm business idea but have still not yet decided what I want to call my business. What should I think about and take into account when coming up with a name for my business? 

Janice Sandwell from Business Link replies:

Choosing a name for your business is enjoyable, as it allows you to be creative. It is also a very important stage of the starting-up process and can strongly influence the potential impact of your brand. This is not just customers “in the early stages of starting up, you will encounter a wide range of stakeholders, from investors and suppliers to potential employees and advisers, all of whom you should be eager to impress. An original name can help you do this.

Ideally, you want to try to strike the right balance. You need to communicate your brands personality, whilst also taking an objective approach and giving your audience an idea of what your business does. Think about who you are talking to, who your customers are and what you are trying to say to them. If you are setting up a cafe or restaurant in a city centre, then choose something that will appeal to a corporate audience. On the other hand, if you are starting up as a goods supplier, then you will be communicating with a different audience and this should be reflected in your choice.

Also try and make it memorable. Choosing an unusual or clever name will increase the word of mouth value of your brand and will mean that people will talk about it and remember it. Make sure you talk to people. Sit down with friends or family and discuss business names, what works and what does not. Look at existing companies for inspiration and the reasons why they may have chosen their names and which ones have worked.