What's in a name?

What's in a name?

Didn't find your answer?

As a newish practitoner I am interested in others thoughts as to the trading name for a practice (sole pract) and whether it makes much difference itself in attracting cients.

For example: Is the popular X & Co now a bit dated or does it give the right 'formal' impression? Or how about including 'Busines Advisers' in the name. Could that give the message that the firm was proactive in that area. Would young entrepreneurs be attracted to a firm which has a young jazzy name (though I myself am a little dated). I have not incorporated. (am I right in thinkng most small firms are not incorporated including the '& Co's'?)

BW

Bill West

Replies (7)

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By deanshepherd
09th Nov 2007 12:17

I chose initials rather than ABC & Co.


But I doubt it has made a blind bit of difference to any of my clients.

When you first start up there is often a trend that clients will be similar to you. i.e. similar age, maybe also new in business.

As your practice grows, so do your own business needs and you find you start to attract more established businesses.

I would therefore suggest, that if you like your choice of name, then clients similar to yourself would also probably like it.

Just my tuppenth worth..

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By AnonymousUser
09th Nov 2007 14:46

I would advise you to incorporate your business
Bear in mind that 2 of the disadvantages for a sole trader becoming incorporated are the increased accountancy costs and the additional red tape.
Being an accountant these disadvantages clearly don't apply to the same degree.

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By AnonymousUser
09th Nov 2007 16:53

Bloggs & Co.
Does sound very dated to me and many medium sized practices (including most solicitors) have rebranded with a single catchy name. A name can convey price e.g "Budget Accountancy" or a specific geographic area like "XYZtown Accountancy". I recently lost a client to a firm called Wow!, which proves there is no accounting for taste in these matters! On the isle of Wight we have "Accountancy People" which is very similar to my own choice and I only wish I had thought of their name first!

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By deanshepherd
09th Nov 2007 16:57

Just to add..

Limited companies can have trading names so it doesn't follow that Bloggs & Co. is not a company. It could be Joe Bloggs Ltd trading as Bloggs & Co.

I suspect your decision to incorporate will come very quickly but I would think most sole-practitioners start off as self-employed and then incorporate when the time is right for them. That is certainly what I did.

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By Robert Hurn
09th Nov 2007 17:38

Domain
It is worth making sure the .co.uk domain name is available and buying the same before deciding upon the name. UK2 are worth a look at but their are many others. Also may be worth incorproating the company for name protection if you come up with a name that you think others may like. But I agree with the other postings the name is not that important, you practice will grow based on its reputation and in particular recommendations from clients. Good Luck

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By carnmores
12th Nov 2007 18:20

think ahead
use a generic ish name

i really think using ones own name is limiting

howabout westside ltd

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By clive griffiths
13th Nov 2007 13:55

Griffiths & Company Accountants
Excellent name for a practice? Errr.....probably not even if you live in Wales! Image offers an initial branding even though it may be subliminal.

When we started our practice in 1994 I chose a practice name of Taxcare. Six months later I discovered that Taxcare was owned by a PLC. They had the grace to let me use it for 5 months.

So armed with a window scraper I removed the R & E from the end of the word Taxcare, and replaced them with an L & L. Taxcall grew in to a sizeable firm over thirteen years. It was sold last year.

Throughout it's existence we were constanlly told by clients and traders in our business community that they loved the name because it left behind the stuffiness of most professional offices.

I still own the domain name www.taxcall.co.uk due to sentimental reasons really. If any body may be interested in buying it then please let me know?

www.taxenquiry.co.uk

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