If you've researched how to start a business, you've likely found mountains of information that make the process
seem challenging. Starting your business is an exciting time, full of opportunity. The last thing you need is
the hassle of complex research and endless forms. With 332,000 new
businesses formed in the second quarter of 2023 alone, competition is fierce. If you act quickly, you
can register your business name before someone else.
Registering a business name can be straightforward. With some simple tips, you can easily navigate the process
and start running.
When you register your business name, you’re setting the tone for your brand. It should represent your vision,
mission and values in a way that appeals to your target market. The process is more complex than finding an
original name — the right business name helps you stand out, bringing your branding together and creating
unforgettable associations with your target audience. Choose a name that reflects your business identity and
connects with your products or services.
Aside from creating a robust identity your target audience can connect with, registering your business name
serves as protection. When you formalize your business by turning it into a legal corporation, you protect your
assets. It gives your business a reputational boost and unlocks some significant tax benefits. As your business
grows, a unique, registered name provides credibility. Customers can see how long you’ve been in business based
on your registration date.
Another critical factor to consider is the digital world in which businesses operate. A strong registered name
can catapult your brand across geographical boundaries, fostering brand recognition and supporting business
growth.
When forming your business entity, you open yourself up to many advantages, including:
You may have a fantastic idea for a business name, only to find out someone else has already registered it.
While this might be frustrating, it gives you an opportunity to think of a more unique and special name. With so
many registered companies out there, you need to know whether you have a new concept, so your first step should
be to conduct a name availability search.
Establishing that your intended business name is unique and available is essential for:
The requirements for registering your business name depend on your business structure. Each structure requires different documentation, but you’ll still need to provide the following basic information:
When you register a business name, you also choose your business structure. However, you can register your business name in one of three ways:
You can create a corporation or limited liability company (LLC) by filling out these forms. You must also choose your legal business name, which any other company cannot use. If you register a business entity, it only protects you in the state of registration. If you expand your business across state lines, you must register your company in the new state, provided the name is available.
Whether your business structure is a sole proprietorship, partnership, LLC or corporation, you may want to
operate under a different name. In that case, you must register that name as an assumed name — also known as a
fictitious name, trade name or DBA.
A business operating under a fictitious name is not necessarily a formal structure. Instead, it’s often the name
you choose to give your sole proprietorship or partnership. However, if you own an existing business structure
and wish to use that for your new venture, you can register a DBA and operate under that name. If
you’re running your business in multiple counties, you must register your DBA in each one.
An assumed name is nothing more than a name under which you prefer to do business, that is different from the
legal name of the entity.
Trademarks registered at the United States Patent and Trademark Office protect your business name nationwide.
The process is more complex and expensive. It requires a search to ensure no trademarks exist on similar names.
You must also meet comprehensive requirements to register a trademark successfully.
Your business name registration choice depends on how you structure your entity, the type of products or
services you provide and the range of your operations. Small businesses operating in a single state can get
enough protection by registering as a corporation or LLC.
Trademarks are generally for national businesses and are rarely appropriate for small businesses getting
started.
Get the ball rolling and register your business name with the following simple steps.
Before you start your registration, you can do your homework and find out whether your preferred business name is an option. If it’s unavailable, you have time to devise alternatives. You can check business name availability in the following ways:
Your chosen business structure impacts your tax obligations, liabilities and management. Each structure has benefits and drawbacks. Consulting a professional is always best if you need clarification on which is most advantageous to your business. Some common business structures include:
Apply for an EIN online by filling out this form. This number identifies your business and is a requirement for banking and tax purposes for business entities. When you apply, keep your basic business information handy, as you need to provide your business name, address and structure to complete the process.
Once you receive your EIN you may use it for any transaction that requires you to identify your business.
Depending on your location, products or industry, you may need to obtain various permits to operate your businesses. License requirements vary depending on your state, so it’s best to start by researching the licenses you need and checking with the associated issuing agency to confirm the requirements.
In most cases, you need to complete an application and pay a licensing fee. It may take up to six weeks for the issuing agency to approve your license, so factor the wait into your timeline.
You can complete your business registration once you have all the relevant licenses and documentation. Again, the process may vary depending on your location. However, you’ll need to file paperwork and pay the registration fee. The most common steps to complete your business registration include:
When you register a corporation or LLC, a business bank account is required. Make sure you have an EIN for your business, as this is required to open a business bank account. Sole proprietors and partnerships can work from their personal bank accounts. Your local bank can help you fill out the necessary paperwork. Comparing rates and perks can help you find the best provider.
Once you’ve registered your business, keeping your records updated is essential to maintain compliance. Depending on your state, you may be required to prepare an annual report or biennial statement to prove your business is still operational. This report provides an excellent opportunity to include any relevant changes like registered agents, directors or changes in address.
You are not generally required to include financial information in your annual report, but be sure to file on time as late reports often require expensive late fees and penalties.
Another part of maintaining your business entity involves declaring common changes in your business, such as restructuring, name changes, new registered agents, new addresses and contact details. You need to communicate these changes by filing an amendment to show that the company representatives agree and keep the state informed about your business structure. The Annual Report process is the perfect time to make these changes as you can often make them at no extra charge than the annual report itself.
Maintaining compliance in a registered business is complex and time-consuming. Many companies work with dedicated compliance professionals who know which paperwork to submit and when. They have peace of mind and are free to focus on business growth.
Whether you’re registering your first business or expanding, you likely have some queries about the process and compliance requirements. We’ve answered some common questions to provide clarity before you embark on your exciting new journey:
In general, LLCs, partnerships and corporations must register with the relevant state agencies. Sole proprietorships are subject to different requirements, depending on your industry and location.
Registration costs depend on your state and business structure. Prices vary from about $50-$600 for the state registration alone.
All businesses have a legal name. Even sole proprietorships use the owner’s name as a legal name. A DBA allows you to conduct business under a name different from the legal one. One company can use multiple DBAs, provided they are registered. The purpose of a DBA is to inform the public that you’re doing business under a different name so that they still know who owns the company and can make informed decisions about dealing with you.
You can trademark your business online. Start by setting up a USPTO account and filling out the online application. Pay a nonrefundable processing fee and monitor the process of your application. This is generally for national businesses and is rarely appropriate for small businesses getting started.
Registering a trademark is a long and complex process. Even if you apply, there is no guarantee that your trademark will register. If your application is successful, many factors influence how long the process takes — 12 to 18 months is the standard time frame. Again, this also is generally for national businesses and is rarely appropriate for small businesses getting started.
Registering and maintaining a business can take time and effort, removing your focus from growing your client base and providing the best products or services. Business Filing is here to streamline compliance, from registering your business name to updating your records.
We’re a privately owned small business, so we understand the importance of reliable support. We approach each client as an individual, meeting your unique needs and navigating the countless websites, forms and registrations required for a compliant, functional business entity. Register your business with us and bypass the red tape today!