Registering your company name ??

[Freckles14]

Hi,

I have plans to have my own business (nail bar) once i've gotten more experience etc...
I already know my biz name, and would like to register it, so no-one else will have it.... but i've heard if your not trading straight away (as i won't be), you to get an account to sign it off once a year, or something like that (not too sure, can't remember ) Is this true? I would ask the person again, but there rli busy with their own business (building trade), so i don't know if it's different...

I would be sooo gratefull if anyone has any advice..
Hope this makes sense.. :lol:

Thanks :green: xx

 

[Ruth Mills]

What sort of entity will you be trading under? e.g. sole trader, partnership or limited company?

I know there are rules about needing a unique name if trading as a limited company, but don't think it is so strict for sole traders or partnerships.

Then there is also the possibility of getting your name/logo trademarked, which would mean that others would not be able to trade using your name/logo.
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[daisyl]

there was a thread about this recently, which basically discussed the validity of paying to register a name. I think the outcome was that really it is not worth the paper it is written on - I may be wrong. Perhaps someone else can remember?

 

[Nail Effect]

I'm a bit to lazy to find the link

but its true the lady in question has had a name registers for years well over 7 i think. A larger company is now looking at expanding their range and will be using her name. But fighting a big corporation like that would cost alot and that was what she was told.

So basically unless your worth millions dont bother really. It will cost you more than what its supposedly worth if someone does use it.

I'm gonna look for the thread and post a link its a very good read as I was thinking of doing the same thing. But know i wont bother :hug:

ah here it is Trademark hths xxx

 

[persianista]

Yes it was my thread. A trademark is only worth the money you have available to defend it.
Setting up a limited company to trade under is worthwhile though. If you register your company name as a ltd co, you dont have to trade straight away. It costs £30 per year to file a dormant co.
The rules of running a limited company are different from sole trader, but in general very worthwhile if you are earning a decent amount.

 

[Ruth Mills]

Yes it was my thread. A trademark is only worth the money you have available to defend it.
Setting up a limited company to trade under is worthwhile though. If you register your company name as a ltd co, you dont have to trade straight away. It costs £30 per year to file a dormant co.
The rules of running a limited company are different from sole trader, but in general very worthwhile if you are earning a decent amount.

Yep, it can be tax efficient if you are able to pay yourself dividends - but always best to speak to an accountant before committing yourself to starting a limited company and becoming a director.

 

[scottishthistle]

Hi Geeks

I have gone onto "A New Business UK" and done a search to see if the name I want to use eventually is available and it is along with its web site address to match.

Isn't it worth registering your company name just to get the web site address to match your business name?