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Thread: Business Name selection Process

  1. #1
    Email problem Dastan Kieton's Avatar
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    Lightbulb Business Name selection Process

    Although choosing the correct business name for your small business doesn't lead to business failure, you do however want to ensure you have a lasting impact on your customers. Not only does your business name need to stand out to customers but also convey the right message. During company registration you should check whether your business name is available for your small business. For company registration you no longer need to reserve your business name due to the new companies act. But if the business name is rejected you will have to register your B-plan for your small company. Companies and intellectual Property Commission (CIPC) is responsible for company registration.

    During company registration you will need to decide what form your small business is going to take. According to the new companies act it will either be a Profit or non-profit
    Profit company types:
    A personal liability company (sole proprietor)
    A state-owned company
    Public company (PTY)
    Private company
    Public company are similar to previous CC and the popular company registration for a small business.

    During company registration you are required to submit a memorandum of incorporation, certified color copies of directors ID's and supporting documents. In order for the company registration of your small business the business name should be provided. Tips for selecting a business name for your small business:
    Ensure you are aware of the business name of your competitors
    Take your audience into account when deciding on a business name for your small business
    Easy to pronounce and spell business name that is short
    Ensure you are aware of connotations the business name may have, as we are in a diverse society and meanings are created from different cultures and values.
    Don't use specific business function as name as this limits your possibility for growth
    Ask those who you trust around you for opinion and their honest thoughts.
    Have more than one option for your business name, six is recommended.

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    Quote Originally Posted by arora View Post
    Profit company types:
    A personal liability company (sole proprietor)
    A state-owned company
    Public company (PTY)
    Private company
    Public company are similar to previous CC and the popular company registration for a small business.
    A personal liability company is not a sole proprietor; it is a company where the members personally guarantee the liabilities of the company. Typical examples are lawyers and auditors, such a Clive Inc where Inc is short for incorporated. Basically it is an incorporation of a partnership and establishes a partnership as a juristic person.

    Public companies are LTD not PTY. Private companies are PTY

    Public companies are not similar to previous CC; I assume you mean private companies are similar to previous cc's

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    Dastan Kieton (23-Oct-12)

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    Email problem Dastan Kieton's Avatar
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    Apologise for my typo's regarding the Private Companies I did mean they are Pty and similar to cc's.
    And thank you for the Persional liablities information as I m not fully clued up on those.
    Thanks for spotting that.

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    Yea, I wanted to use GrowAbusiness to register my company as a PTY Ltd & support a TFSA forum member with some business. Went to the site, filled in the "call me back form". Apparently someone would've contacted me within 8 business hours.

    That was Monday evening 7pm that I filled the form in. It's now almost 9pm Thursday evening. Not a single call back. I even tried calling them, no answer. Phone just rings.

    Oh well..... Time to go to Swiftreg

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    Diamond Member Blurock's Avatar
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    If you want to register a company there is only one place to go:

    http://www.shelfcompanywarehouse.co.za/ These guys give an awesome service!

    Log on and buy a shelf company on line. Company docs available within 48 hours. They will even issue the share certificates for you.

    I have lodged the documents (application, FICA etc) at 4pm and had approval for a change to a special, generic name before 10 am the next day. This is unheard of! Receipt of the documents for the name change took slightly longer as it comes from Pretoria.
    Excellence is not a skill; its an attitude...

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    Perform Computers (26-Oct-12)

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    Diamond Member adrianh's Avatar
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    Yes, yes, it's all in the name, people will never know what these businesses do: Apple, Nike, McDonald's, Sony, Panasonic, Kodak, Panavision, Minolta, Mercedes, Opel, Atari, Nintendo, Lotus, Ford, Intel, Motorola, Atmel, Agilent, Fluke, LG, Samsung....

    Reality is a funny thing......it bites hard....
    How easily someone is offended is directly proportional to how stupid they are.
    ~GS Elevator

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