How to Register Your Company Name
Your company name is your identity. It is one of the most important things to get right, and when you decide on the name, it feels like a massive load off your shoulders. We break down how to reigster your company name below.
Your company name is an overhead title, while your business name can be the same or different. Your business name is the name you will trade and the name your clients will associate with you and your product. However, the company name gives you a legitimate and validifies your status on the market. Registering a company name is done on the government website by the Companies House regulating body.
Making the correct choice can be overwhelming, but this is a hurdle you can overcome. It’s a chance to define your business on your terms and be creative.
Before You Register Your Company Name, You Should Review your business name choice
Before you go ahead and make your choice of name permanent, it is generally good practice to ask yourself some basic questions – after all, it is a huge decision to make, and it should not be taken lightly. Here are some questions to consider:
Your chosen name cannot be the same as another already registered company on the market. You should check this beforehand as if you register your name and it turns out that a predecessor has already claimed it as their trademark, you are liable to be taken to court. Of course, this should be avoided as it is a chance for you to lose funds due to pure carelessness.
You can check the Companies House register on the government website to list all company names registered in the UK.
Your chosen name will most likely end in ‘Limited’ or ‘Ltd’ – it’s something to consider when choosing a name. If you expand internationally, the abbreviation of those countries might also be added to distinguish your brands’ different pathways.
- Is my company name offensive?
Your chosen name cannot be of aggressive or derogatory nature. It also cannot link to the government or local authorities as this might be interpreted as a deceitful accreditation. You might also want to consider how the terminology or imagery you use translates if you want to expand into a new or international market.
How Do I Register a Company Name?
Once you choose the name you wish to register and cross-reference it to make sure you are distinctive, it’s time to make it official. There are some preliminary tasks before you can make your business idea a reality, but the first step is overcoming the registration process.
Here is the step by step you must complete to register a company name:
- Finalise your company address: You need to have a UK postal code in the same country as where your business is registered, e.g. if you registered in Scotland, your address should be someplace in Scotland. Make sure that this address is dependable as this is where you will receive your official letters from the government and other parliamentary or local bodies. While many forms are now based online, it is still imperative that you use the correct address.
Remember that this address will be available to the public. Therefore it might be beneficial not to use your home address.
2. Choose a SIC code: A SIC code is a way that businesses connote their industry. You can have multiple SIC codes per company. Use the dropdown menu to select the trade your company is a part of.
3. Appoint a director: A director is legally responsible for running your business and the business accounts. A director must have two addresses, a public company address and a residential one.
4. Divide the shares: there are nine types of shares to choose from, and you must also decide on their value and currency. You might need an accountant to help you with this.
5. Choose the shareholder(s): Now that you have shares and their values, you must appoint their owner, your company’s shareholder(s). There can be a sole shareholder or multiple shareholders.
6. Statement of compliance: Accepting the Companies Act is a legal requirement to sign and adhere to. It comes with a Memorandum of Association which are the rules of running a business that you must accept.
7. Pay the fee: The Companies House charges a fee of £12 for online company registration.
Click here to register your company name now.
Other useful links from our knowledge centre:
How To Sell Your Small Business
How To Get Into Business Operations
How To Check If A Business Is Registered Via Companies House
Remember to Compare Your Business Costs is here to help your business every step of the way from business advice, or saving you time and money on your business purchases such as: