What’s in a name?

It may be stating the obvious, but a recent British Chamber of Commerce survey concluded that over 80% of new businesses select a name that simply isn’t memorable.

So if you’re about to start a new business, how should you go about finding a memorable name?

Not surprisingly you need to spend more than a few minutes making your decision although spending too long can also adversely affect how memorable the final name is. Advice suggests reflecting on a chosen name over a 24 hour period. Any longer and, as the name becomes more familiar to you, it may begin to seem more memorable than it really is.

Take a look at our list of eight tips that follows to see whether you’re on the right track to a memorable name for your business.

1. Where to start? A concrete or visual noun can help to make a name more memorable. ‘Orange’ and ‘Crown’ both work well. Using the name or initials of the owner ‘JB & Co’ or ‘John Brown & Co’ is less memorable.
2. Generally avoid made up words. They can work well for large businesses - witness Tesco and Asda - but don’t help memorability for a smaller business.
3. Keep the name short!
4. Is it easy to say the name? If it trips off the tongue it will be easier to remember. Consider alliteration (Tim’s Tyres) or rhyming (Jones Phones).
5. If you expect business from local customers using a location in the name can be very memorable.
6. ‘Stealing’ can work if done with care. The similarity between ‘Hamleys’ and ‘Gamleys’ is a well known example.
7. Avoid unnecessary words in the name such as ‘company’, ‘limited’ or ‘associates’.
8. Beware over elaborate graphics and logos. Remember the mnemonic ‘KISS’ - keep it simple stupid!

Not only do you need a memorable name but, reports the UK Patent Office, you need to ensure you have adequate protection for the name. The Patent Office is running a ‘What is the Key’ campaign to help raise awareness of the issue. Further information can be found at www.the-key.biz