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Choosing the Best Name for your Company

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7 Tips for choosing the best name for your newly incorporated company in Singapore

Picking the right name for your start-up company can be a difficult task. Especially because research has shown that at least 77% of the customers buy products depending on the brand name. Therefore, having a good name can make a huge different as it will affect your sales in the long run. Well, here are 7 tips for choosing the best name for your newly incorporated company in Singapore.

1. Decide what message you want to convey through the name

Your name is everything. A good company name enables the company to establish its brand well. The company name is the company’s image. It will be printed on the business cards, the firm’s letterhead, website and other places for the purposes of marketing the newly incorporated company. Make sure that when you are choosing the best name for your newly incorporated company in Singapore, you brainstorm and list down several possibilities. Once you have your list, pick the one that will clearly convey the message you would like to pass across to your potential customers.

2. You need to K.I.S.S (Keep It Short and Simple)

Do your homework on all the big companies and you will notice they all have one thing in common. They have fairly short names that are very easy to write hence easy for consumers to remember as well. Good examples include company names like Alibaba, Amazon, Microsoft, Apple and many others. The secret is to keep it short and simple. Do not choose a name that is hard to spell or pronounce. This will hinder customers from even promoting the company because well, they can hardly remember the name. You can also decide to use an acronym for your newly incorporated company. However, make sure that the acronym is not abusive or offensive as this may tarnish the image of your company.

3. Do not use names that are too vague

Think in the long term and try to predict on who your business is likely to evolve over time. This means that you should choose a name that will also evolve with the business. Remember that the company will not be a start-up forever. For example you cannot name a company based on the price of the product you are selling because of inflation in the economy, it might soon not make any sense. Therefore you need to avoid names that are too narrow or too literal.

4. Tread carefully with geographical names

Every start-up company has a vision of going beyond its geographical borders. Therefore, when you choose a name for your company based on the town or city you are based in, it might be a hindrance later on. If you intend to trade within your locality, then you can go ahead and choose a name based on your locality.

5. Test the name with potential customers

It is important to test the intended name of your company with potential customers. You can have more than one name to use as samples to find out which one did people like most. A good example is Alibaba, the founder of Alibaba, Jack Ma, went round the street asking random people whether they have heard of Alibaba. Well he says most people said yes because of the famous story of Alibaba and the Forty Thieves. That was how he settled for Alibaba, one of the world’s biggest ecommerce websites today.

6. Stand Out to be Outstanding!

The name of your company needs to be unique and memorable. This will make it stand out from the rest of the companies. Choose a name that is catchy and unforgettable. Have a domain name like dot.com. This will make your company seem to be well established while it is still a start-up.

7. Check the availability

When you are choosing the best name for your newly incorporated company in Singapore, you need to confirm with the relevant authorities on whether the specific name you want is available. Browse through the internet and check if there are other companies in your area with similar names.

In a nutshell, choosing the best name for your newly incorporated company in Singapore is important because it will determine the overall success of the company. Choose a name that is short, easy to spell and pronounce to make it unforgettable to your customers. Look at what other languages have to offer!

Learn more about business structure types in Singapore.

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