Incorporation Guide: Deciding and building your brand

Author: GenNext Chartered Professional Accountants | | Categories: Business Consulting , Business Setup , Business Valuation Services


Deciding and Building your Brand

If you have been doing any research at all on starting a business, you would have already read articles on the importance of determining your brand from the onset of starting a business. A powerful brand name is determined by considering your customers. The brand or business name should be easy to remember and identify your business from others within your industry. A great brand name can become a valuable asset to the business and increase the chance of success reaching your customers, investors and perhaps even franchising.

Finding a brand or business name is no small feat. There are millions of businesses already existing in Canada. Although, Ontario is only a portion of the country, it is important to recognize that Ontario has the largest portion of businesses within Canada.  If not immediately, at some point, you may want to expand your business beyond the borders of Ontario and even Canada should be considered.

Finding a business name takes imagination, creativity, grit and searching using various tools to assist you. Take the time to find the perfect business name. The best thing to do is to write down words and names that come to mind when you are deciding on what you wish to convey to customers about your business. Research is key when deciding on a name for your business.

The business name should have the following characteristics:

·Unique – Your business name should stand out among the crowd.

·Distinctive – Be able to convey what your business does.

·Direct – The name should be easy to say, spell, search, and tell others about your business. Word of Mouth is your best way to get your business name out there.

·Global – Think of a name that can expand outside of your current geography.

            ·Eye Catching – When considering the logo for your business name, how will the name of your business appear on media platforms.


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