How to Choose a Name for your New Business

When you’re setting up a new business, probably the most important step you’ll take is choosing a name for it. Changing a company name once you have developed a logo, had stationery and marketing material printed and registered domain names and social handles is far more trouble than it’s worth, so it pays to get it right from the start.

If you are in the throes of setting up a business and not quite sure where to start in deciding on a name, the following tips may be useful.

1.     Make it Memorable

Something that sticks in people’s minds will help your business do the same. Don’t forget that a lot of people will see a sign, shop front, advertisement or product and later search for it online. So the name really does have to be memorable. Think of something that creates interest or intrigue, sparks the imagination or induces some form of emotion. You could also try something that brings a visual scene to mind. ‘Bootea Shake’ is a brilliant example of a name that does just that and the clever combination of what the product actually is (a shake) and what it does (helps you lose weight) is a real winner.

2.     Make it Relevant

Abstract concept names may sound cool and have some sort of meaning to you and any other co-founders of your business, but are they really going to mean anything to customers? A business name should ideally describe what you do and if possible, the benefits of what you offer. But keep in mind what we discussed in point 1: try and spark some sort of visual effect or emotion with it. ‘SimplyHired’ is a great name for a recruitment agency: it instantly brings to mind the feeling of landing a job, with the whole process being nice and easy.

3.     See how it Looks

Some company names sound great verbally, but when they’re written down or made into a logo, they just don’t work. Names that are particularly long or made up of several words can often be tricky to incorporate into logos or onto letterheads, and some can look disastrous as domain names. Try sketching out potential names with some sort of logo and write them down as a ‘www.’ to see how they look. Do this before getting design agencies involved, as time is money and you wouldn’t want to waste it on having a logo or company stationery designed around a name that just doesn’t work in practice.

4.     See how it Sounds

Whilst much of today’s communication is done in writing, it’s still important that your company name actually sounds good when spoken. At some point you will find yourself networking or having discussions with business contacts and you will be telling them the name of your company verbally, so make sure you choose something that is easy to say – and remember. You certainly don’t want one of those names that when you say it, people reply, ‘sorry – what?’! Or one that people are unsure of how to pronounce or spell, like ‘Qustodian’, ‘Unboxd’ or ‘nwplying’. All of these are real business names – they may look ‘cool’, but try saying them!

5.     Make Sure it’s Available

As soon as a potential name comes to mind, check its availability as a domain name and social handle. Do this immediately, before the name starts to grow on you. There’s absolutely no point settling on a business name that you can’t use for your website or social platforms. And if you think using one of the growing number of ambiguous domain extensions, such as .company, .expert or .agency for example, is going to allow you to work around it, think again. If you want your business to look professional and be taken seriously by as wide an audience as possible, there’s no substitute for .co.uk or .com.

You’ll also need to check that the name isn’t already taken, which you can do with an internet search or a look on Companies House.

If you are finding it a challenge to come up with a company name, why not enlist the help of your bookkeepers to assist with inspiration and an outside opinion? In the meantime, we hope you’ve found these tips useful – and good luck with your new business!

Things to Consider When Introducing Bring Your Own Device Working

Bring your own device (BYOD) working has become very popular, and for good reason. With employees able to work wherever they wish, whenever they wish, it boosts goodwill, enhances productivity and helps businesses gain the edge over competitors.

However, there are data protection and security considerations you need to make as an employer if you are promoting BYOD working.

BYOD and Data Protection

BYOD working brings up numerous concerns under the Data Protection Act 1998. Because you don’t have ownership of the devices on which your data is held on, it is vital you think about potential scenarios where these devices might fall into the wrong hands.

Theft is a real problem, and so is hacking. With devices connected to your network and access to your data in effect open, robust antivirus and online security systems are obviously vital. So you have to consider, do you insist on your own choice of protection, or leave it to your employee to choose?

The Information Commissioner’s Office (ICO) has issued some very usefuladvice on BYOD working and the associated data protection implications which is well worth a read. 

BYOD and Security

When you have outside devices linking in to your IT system you are effectively exposed to a host of security issues. A robust management plan is essential and you need to take time to consider how much of the setup and configuration you are willing to leave in the hands of the employee. Ideally it is preferable for the IT department to handle things like software installation and configuration, email account setup, device locking and encryption so you can be sure of consistency. However, you do need to balance this with management efficiency so you may decide to allow some of the more straightforward tasks to be undertaken by the device user. A set of guidelines will help keep this under some control.

BYOD Policies

The ICO recommends a ‘BYOD Acceptable Use Policy’ is put in place. Workers will find it useful to know how they are permitted to use their devices to process business data and how to keep this separate from personal material.

If you decide to monitor usage and record the location of devices using geo-tracking then you will need to officially inform employees as to how you are monitoring and ensure such monitoring does not infringe on privacy rights.

A policy on what happens to data and software on devices when a worker leaves your business is also very important and you may wish to consider making it the case that devices should be surrendered for clearing by your IT department when that happens.

If you are thinking about introducing BYOD working into your business, make a start with a read of the ICO’s guidance. Then consult with your HR and IT managers and legal advisers so you can all work together to get policies and systems in place to ensure you are well prepared for every eventuality.

Taking Care of Mental Health in the Workplace

Mental health in the workplace is becoming a much talked-about subject. The promotion of mental well-being is very important if you want to see your employees enjoying the best possible physical health, and if you’d like to ensure maximum productivity.

The Institute of Directors (IoD) conducted a survey of 1,150 employees and 586 employers. It found that just 7 per cent of employers have made the effort to discuss mental health issues with their workers, despite the fact that 8 in 10 of them considered it important to make provisions to promote emotional well-being. Only 23 per cent surveyed had a company policy on it.

Of the workers, a third of them revealed that they found it difficult to complete tasks due to stress and anxiety. 68 per cent felt it was their employer’s responsibility to make arrangements to deal with mental health issues amongst staff.

Simon Walker, director general of the IoD, said: "Businesses have an enormous role to play in creating an environment where such issues can be discussed openly, effectively and safely.

"After all, we spend a huge amount of our lives at work and among colleagues, so we have to take steps to ensure that the work environment, particularly in smaller businesses, is one where mental health issues are well understood."

Exploring Avenues to Help With Workplace Mental Health

If as an employer you are keen to explore some avenues that could help deal with mental health in the workplace, the best place to start is with compiling a policy. Such a thing could include the promotion of mental well-being, supporting staff by monitoring working environments and helping supervisors to develop skills to help them identify and manage any issues.

Think about how you might provide advice to anyone who has mental health problems, perhaps by working alongside healthcare professionals. For those who have taken leave because of such issues, consider how you might help them back to work.

Encouraging employees to talk and promoting an open-door policy on the subject is good practice and you could also liaise with any local outreach groups in your area that may be able to come and hold workshops to help the entire organisation.

If you’re not sure where to start, your bookkeepers will usually be able to point you in the right direction.