LET'S TALK ABOUT YOUR COMPANY'S COMPLIANCE NEEDS. CALL US AT: 6272 0820

Margin Wheeler

MarginWheeler - Your Company, Our Priority.

T +65 6272 0820
Email: [email protected]

Margin Wheeler
21 Bukit Batok Crescent, #15-75, WCEGA Tower, Singapore 658065

Open in Google Maps
  • HOME
  • OUR TEAM
  • SERVICES
  • ACCOMPLISHMENTS
  • TESTIMONIALS
  • BLOG
  • CONTACT
  • CAREER
FREEQUOTE
  • Home
  • Business
  • Choosing a Name for your Company

BLOG & Gossip

Choosing a Name for your Company

by Sheann / Saturday, 11 September 2021 / Published in Business, Entrepreneurship
name

Picking a name

The number one thing that you must have when registering your company is a company name. Though the process of picking one may be hard, future you will be thankful that you spent time to take care of this. There have been instances where businesses have failed largely due to a bad company name.

Picking a name is just one of the many steps to take when incorporating your company. Read on to find out how to choose the right company name. If you need assistance with incorporation, reach out to us for help. 

Register your company name

In Singapore, you need to reserve and register your company name before you can start your business properly. You will need to send your proposed name to the Singapore Accounting and Corporate Regulatory Authority (ACRA) for approval. This is done through BizFile+ and requires a $15 fee.

The application will also require you to specify the primary and secondary activities of your business. You can classify your business according to the Singapore Standard Industrial Classification (SSIC) code.

Your company name will be reserved for 120 days after it has been approved. You will need to register or incorporate your company within these 120 days, after which the name will be made available to the public to register/

How to choose a name

Here are some tips that will help you stand out from other competitors and give you a higher chance of an approved application.

  • Be descriptive

Find that sweet spot between being too vague or too meaningful. Boring names can be forgettable among the sea of other competitors in your industry. 

  • Be creative

Don’t use keywords in your business name. Using plain keywords like General Finance doesn’t work anymore. Instead, try using more descriptive keywords to communicate what your business is about. 

Dare to use puns or play with words to draw attention to your company. The best would be if they are both creative and are still related to the service that you’re offering. For example, the name Flickr is a play on the word “flicker” and at the same time hints that the company is involved with photography.

  • Keep it simple

Keep your company name short and sweet – a long company name will be hard to remember. You want your company name to sound pleasant and appealing to customers. Your company name should also be easy to pronounce. It’s alright to be clever, but be sure to not overdo it.

  • Don’t imitate competitors

ACRA will not allow names that are similar or almost identical to existing businesses. This includes reserved names as well. If the name you have chosen is reserved, you can take your chances and wait for the 120-day deadline to end.

  • Avoid using your name

Unless you are an established brand or have some following behind you, avoid using your name. This is as using your name usually does not communicate any meaning behind your service and won’t mean anything to potential customers. It can also cause problems in the future if you want to expand your business.

  • Avoid words that may require additional licenses

Some words may trigger regulatory bodies to conduct inspections on your businesses. Most of the time, this means that you will either have to remove a word in your name or acquire more licenses.

For example, if your name includes the words “school” and/or “academy”, the Ministry of Education might conduct a review and approval of the name. The same possibility applies to other terms like “bank”, “university” and “insurance”.

Getting the right name

To ensure that your name has not been taken yet or reserved, it’s best to conduct a quick check on Google or ACRA’s Bizfile+. This will help you save the time and money of having to apply and wait for approval.

If you need more help, simply reach out to us where we’ll be able to help you with anything from creating a suitable brand name to bookkeeping.

Read more:

  • How to keep customers coming back
  • Why you should choose a digital bank account
  • Business etiquette in Singapore
0
Tagged under: business, company, name

About Sheann

Penultimate undergraduate at NUS with experience in writing lifestyle articles and copywriting.

What you can read next

transparency
Implementing Transparency in your Business and the Workplace
accountant
Growing your startup with an accountant
packaging
How To Utilise Packaging Inserts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • e-commerce

    Designing Your E-commerce Website

    Creating an e-commerce website In today’s day a...
  • accountant

    Growing your startup with an accountant

    Hiring an accountant  When you first open a sta...
  • shipping

    8 Tips to Make Profits While Offering Free Shipping

    Offering free shipping You would have probably ...
  • traffic

    5 Tips To Get Traffic to your Online Store

    Getting traffic to your online store Though set...
  • CTA

    Full Guide to Commercial Tenancy Agreements (CTA)

    What are Commercial Tenancy Agreements? Though ...

Categories

  • Accounting
  • Business
  • Entrepreneurship
  • Incorporation
  • Taxation
  • Uncategorized

INCORPORATION

  • Incorporation with Local
  • Incorporation with Foreigner
  • Incorporation (BVI)
  • Nominee Director Services
  • Registered Address

CORPORATE SECRETARY

  • Company Secretary Service
  • Meeting Room Support
  • Company Strike Off
  • Scrutineer

WORK PASS

  • Work Permit
  • Skill Pass
  • Employment Pass
  • Entrepreneur Pass

TAXATION

  • Company Tax
  • Personal Tax
  • Goods And Services Tax (GST)
  • Tax Planning

ACCOUNTING SERVICES

  • Bookkeeping
  • Cloud Accounting
  • Financial Statement
  • XBRL Filing
  • Onsite Accounting

AUDIT SERVICES

  • Statutory Audit
  • Sales/Rental Audit (GTO)
  • Charity Audit
  • Lucky Draw Audit

HR, ADMIN &
DATA PROTECTION

  • Payroll Services
  • CPF Account Opening
  • Administrative Services
  • Data Protection Services

TRADEMARK

  • Trademark Registration
  • Trademark Classes

GET IN TOUCH

T (+65) 6272 0820
Email: [email protected]

Margin Wheeler Pte Ltd
21 Bukit Batok Crescent, #15-75, WCEGA Tower
Singapore 658065

Margin Wheeler

© 2023 All rights reserved. Margin Wheeler Pte Ltd (Professional Firm Licence No. FA20153653) Privacy Policy

TOP
×