Many self-employed workers tend to choose their family name for their business name. Others prefer to come up with an original name that includes an explanatory prefix or suffix to help potential clients better identify what type of product or service they offer. Some examples include ProPlumber, Maxi Automobile or Tradexperts.
When deciding on a name, don't underestimate its importance. It will be the first "image" clients have of your business. It should be short while providing as much information as possible. This means coming up with a name that reveals everything the company is in one or two words. Naturally, the name should directly relate to the product or service offered.
If you will be working in multicultural environment, also make sure the name doesn't have a negative connotation in another language. You should also steer clear of creating a name similar to that of a major competitor. For example, a name like Molsen beer, Kleenesque tissues or Canada Tire could get you in hot legal trouble. The same goes for using the name of a famous celebrity.
It's worth taking the time to carefully come up with a business name. Keep it short, precise and to the point. Next, make sure the name you choose hasn't already been registered in the area by another company or individual. In Canada, legally registering a business name at the Canadian Intellectual Property Office costs $350 and is valid for a period of 15 years.
