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How do I Choose a Name for my Business?

 how do I choose a name for company

Prime Minister Lee Hsien Loong recently said that polytechnic students have many options after graduating. They could work for a few years, or start a business. Of course, polytechnic graduates are not the only aspiring entrepreneurs in our tiny island. Nowadays, with the many good business opportunities in Singapore, there are countless of citizens interested in starting a business in Singapore. Perhaps this is why you’re reading this article. You feel that you are able to achieve exponential success. You are passionate about winning, and you consider yourself a top-drawer talent.

The most nerve-wrecking question in register a company in Singapore- other than the start up capital- is choosing a name for your company. If you want the recipe to success like boosting your sales, you would want a catchy name. It doesn’t take a rocket scientist to realise that finding a name for your business is a critical first step. Registration of business in Singapore is Registration of business in Singapore an exciting and scary process. You want to overcome any obstacle, and consistently beat your rivals at their own game.

First of all, find a memorable name. If you choose a dull name, your customers might feel a lack of enthusiasm from your part. Now we don’t want that, do we? So you need a having a good hook business name. Think outside the box and when you think of one, don’t stop. Keep racking your brain. Who knows you might be able to think of a better one. Choose a business name that draws business in itself. If it helps, try and imagine that you’re a student doing a multiple choice question for your exam. And when you do (you’d know if it clicks with you), well, I’ve got a piece of good news to share: you’re on the right track in starting a business in Singapore. This way, you can stay ahead of the competition.

This is possibly the most important key if you’re starting a business in Singapore. It is noteworthy to keep your company name short and sweet. Why do you think companies like 3M, Sony and Nike are famous? If your company name is ridiculously long, there is a high chance that no one remembers it. Worst of all, they can’t be bothered to spread the word about your business to their family and friends. Sure, you can change your company name, but wouldn’t it be troublesome and a huge waste of time? It would be best to get the name right for the first and the last time. The name of your business is the first thing customers hear. A wrong name can cost you your clients and ultimately, your business.

Another significant point is that you should choose a business name that’s available, especially before you start using it. Oh the horror! You do not want to confuse your customers. Of course you wouldn’t want to end up in court because you named your business that is already trademarked. Anyone remembers McDonald’s long battled legal case with McCurry that went on for five years?

Brainstorm for a name with visual appeal. For instance, just solely by the word Netflix, many people would think of TV shows and movies. Ask yourself this: do I think of something in reference when I see my business name? You need to include information about what your business does. It is extremely important to let your clients know what you do with your business name.

By the time you have a business name, you would be able to take on the big boys. I now end this guide with the expression from the Star Wars films, ‘May the force be with you.’

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Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professional can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.

What Are The Guidelines For Foreigners to Start a Business in Singapore4

In addition to business registration, we’ll also guide you how to:

  1. Write a business plan – Learn how to write a compelling business plan by accessing our sample business plans, or other helpful market research information
  2. Perform market research – Understand your business market, learn how it can enhance your business growth, and how to properly conduct a market research for your business
  3. Corporate Secretary Services – If you are registering a company in Singapore, you will need a Corporate Secretary. Corporate compliance in Singapore is a complex legal requirement for all Singapore registered companies. Our company secretarial team helps our clients and their officers to fulfil their statutory obligations in an efficient manner.
  4. Manage your finances – We’ll offer you the best resources and information to help you fully understand all financial concepts and teach you how to perform basic accounting tasks like budgeting, bookkeeping, financial analysis, among others

To further aid you, we have provided here a resource area with industry specific information and other industry resources to help you successfully start and run your business.

  1. Singapore Business Opportunities 
  2. Singapore Business Licences
  3. Singapore Tax Planning
  4. Singapore Company Incorporation
  5. Singapore Company Yearly Statutory Requirements
  6. Singapore Working Visa Guide

By Eric Eio
Managing Partner of Paul Hype Page & Co.

Eric was awarded an ACCA graduate in 2000 and also graduated from University of Sydney with a Bachelor degree in Computer Science & Accounting. Since graduation, he had worked in Big 4 as an auditor , including a one year overseas stint with Ernst & Young, Shanghai in 2005. He left his last appointment as an Audit Managerial position with PricewaterhouseCoopers, Singapore in 2008 before setting up his own Certified Public Accountant Practice – Paul Hype Page & Co. His firm is being selected to be one of the advisory panel for Singapore top 500 SME.

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