How to Choose a Name for your Business in 10 Easy Steps

By ABDigital Career Development, Startup Businesses 0 Comments

So you’re thinking about how to choose a name for your business? 🙂 Most successful startup owners and founders also passed through this stage in order to choose the best name for their businesses. Choosing a name for your business is one of the most critical steps in launching your venture. It’s not just about being catchy or trendy—it’s about crafting an identity that reflects your vision, connects with your audience, and can stand the test of time.

In Nigeria’s vibrant and competitive environment, your business name plays a key role in branding, marketing, and even legal compliance. Whether you’re launching a fintech startup in Lagos, a clothing line in Abuja, or an agribusiness in Ogun State, this guide will walk you through how to choose a name that resonates with your audience, registers easily with the Corporate Affairs Commission (CAC), and supports long-term growth.

Learning how to name a business is a very important company formation process that initiates all other steps and processes taken towards the development, registration and establishment of a company. You may also need a website designs, corporate branding, social media marketing, and print advertising strategies to increase your customer base, boost sales and grow your business. Contact us for free consultation if you need help marketing or growing your business in Nigeria.

If you want to form a company, then it’s important to understand a bit about business structures, this will help you decide the best name that would be suitable for your kind of business.

First,

What is a Company?

A company has been defined as: “An association of persons formed for the purpose of an undertaking or business carried on in the name of the association” – L. B. Curzon.

A Company can be structured in different ways, such as: a sole proprietorship business, partnerships, limited liability company, etc., but for purpose of this business startup section, we have two major types of companies: the private companies and the public companies.

Every type of company – be it limited by shares, limited by guarantee, or unlimited may be either a private or a public company. A private company is a company owned by one or more individuals, and it’s not allowed to transfer its shares to the public as its articles of associations restrict this power. The public company in the other hand, can sell (issue) its shares, or transfer its right of ownership to the public as a way to raise business funds.

Don’t Miss: Understanding Business Organizational Structure

The public company is a more ambitious enterprise and can actually be a structure of great economic power. It raises its capital from the general public and in Law its membership is unlimited.

With the concentration of capital and labour in the public company, it can play a far reaching role in the social-economic development of the society…

— Prof. I. A. Ayua.

Now, let’s face it:

How to Choose a Name for Your Business in Nigeria: 10 Easy Steps:

Step 1: Understand the Importance of a Good Business Name

Your business name is more than a label. It’s the first impression your customers, partners, and investors will have. A well-chosen name can:

Communicate your brand values and mission
Attract your target market
Establish trust and credibility
Stand out in a crowded market
Be legally registered and protected
Be scalable across products, regions, and markets

Generally speaking, business name is the first step toward building a strong brand identity – one that would last as long as you’re in business. This is a one time key decision to make as a business owner and so it should be done correctly. This is because changing a business name is a costly idea and a stressful process for already existing businesses, especially for established companies.

Therefore, as an entrepreneur; you need a unique brand name that would appeal to your audience and stand out from other competitors; as most people would not wish to do the business naming process over again.

Step 2: Define Your Business Identity and Audience

You having a great company name can influence the success of your business. Changing your company name after some operational times may have a huge impact to your brand. If you are unsure about the best company name ideas or the name to give your business after reading this post, our business development experts can help you come up with the right brand name for your kind of business.

As a leading creative branding and marketing agency in Lagos Nigeria, our Brand Development Services includes corporate identity creation, company logo designs, responsive website designs, copywriting, domain name registration, social media setups and CAC Company Registrations.

Before naming your business, clearly define:

What your business does (e.g., sells digital tools, organic food, offers legal services)
Your mission or core purpose
Your target audience (youth, professionals, low-income earners, niche markets)
Your brand tone (formal, playful, modern, premium, local, international)

Your company name usually has a tremendous impact on how customers, investors and the general public view your business and its products or services. For example, a tech startup targeting professionals may go for a sleek, modern name like ByteSuite, while a local food brand could use a warm, indigenous name like Mama Ajoke Foods.

How to Choose the Best Name for a Business

Step 3: Brainstorm Best Business Name Ideas Creatively

While starting out, your business names can come from all kinds of ideas, but most often; it’s not all that roll through your head are going to be the best name for your business. In fact, naming your business from branding and marketing perspectives is everything, and this is a deliberate effort.

Use brainstorming techniques to generate name ideas. Here are a few methods:

Word Combinations – Combine two relevant words: FarmGate, TradeNest, ShopNGo
Local Language – Use Yoruba, Igbo, Hausa, or Pidgin English terms: Kpakpakpa Logistics, OgaPay, Ayo Stores
Acronyms – Use initials: JAS Ltd. (for Jide, Ada, and Seyi)
Invented or Abstract Names -Create unique words: Zekora, Kwikly, Naijafy
Descriptive Names -Describe what you do: Lagos Rice Traders, Easy Travel Nigeria

Aim for a list of at least 15–20 names during this phase. The best business names should be informative, relating to the industry and your product offers – so your customers can easily know what the business is all about. You can use coined names, such as ones that come from made-up words.

While experts argue that the best business name should be descriptive, this should not be too general or vague. You can use a memorable name from real words (e.g. English words): but don’t copy your competitors names. Avoid using your own name to form a business name that would go corporate.

Step 4: Check for Availability and Legality (CAC Guidelines)

The Corporate Affairs Commission (CAC), the body responsible for the registration of business in Nigeria requires every business name to be unique; not similar to or the same with what other people have already registered. To ensure your name is unique and available:

Visit the CAC website and use the Name Availability Search tool.
Avoid names that: Are identical or too similar to existing businesses.
Do not use the words: “Federal”, “National”, or “Government” without permission.
Do not include offensive, misleading, or unlawful words in your business name.
Do not use words that contain professional designations (e.g., Bank, Pharmacy) without regulatory approval.

Your new business name should be effective, backed by the right marketing strategies, related website domain name and official company name availability. You can reserve at least two or three names in case your first choice is rejected.

Step 5: Check Domain Name and Social Media Handle Availability

In the digital age, having a matching online presence is crucial for a business. Before your shortlisted name is registered, check its domain availability using sites like GoDaddy or Namecheap. Aim for a .com or .ng domain.

Now, visit top social media platforms like Instagram, Facebook, LinkedIn, and X (formerly Twitter) to check and secure your social media handles. Try to keep the same username across platforms (e.g., @ShopNaija). If your name is taken, consider slight variations like: adding “HQ”, “Global”, NG, or “Africa”, using abbreviations.

Step 6: Evaluate Your Business Name Strategically

Test your shortlisted names against these 5 criteria:

Simplicity – Easy to spell and pronounce
Uniqueness – Avoids legal conflicts and confusion
Relevance – Reflects your business or market
Scalability – Works as you expand services/regions
Memorability – Sticks in customers’ minds

Example: “ZubaPay” – Simple, relevant to payments, easy to brand. “GlobalTechSynergyConsultsLimited” – Too long, generic, not memorable.

A business name can determine how customers perceive your brand, how easily people find you online, and whether you stand out or get lost in the crowd. In Nigeria’s dynamic business landscape, a good name must balance creativity, compliance, strategy, and availability. Here are some great Nigerian business names examples and why they worked:

Paystack – Simple, fintech-relevant, brandable
Flutterwave – Creative, tech-driven, memorable
PiggyVest – Combines saving (piggybank) + investment
Konga – Short, local, powerful
Farmcrowdy – Descriptive and community-focused

Step 7: Avoid these Common Mistakes

Avoid common mistakes that entrepreneurs make when naming their businesses such as:

Copying famous brands: This leads to legal issues and poor credibility.
Overcomplicating: Long or hard-to-pronounce names get ignored.
Trendy words: They may not age well or reflect long-term value.
Location locking: A name like AbujaChops may limit expansion to other cities.
Neglecting future scalability: Don’t name your brand NaijaShoes if you plan to sell bags and clothes in the future.

Read: How to Start Online Business and Make Money Online

Step 8: Understand the Features of a Good Business Name

It is important for a company to build reputation that is powerful, attractive and useful to its customers. Our business development experts advised against bad business name choice and explained herewith; the features that make a good business name. So, here are key feature to put in mind.

Features of a Good Business Name:

While there is nothing wrong with using your own name, this may not present a more professional image.
A business name should convey the expertise, value and uniqueness of the products or services you have to offer.
It should be concise, memorable and be able to communicate and reinforce the key elements or philosophy of your business.
The business name should be broad (not too meaningful) in case the company wants to expand or diversify beyond its original or main product line, location, and industry, in the future.
Also consider how your name will look on the web, as part of your logo, and/or on the social media networks as these may also affect your brand marketing.

Wrapping Up: How to Choose a Name for your Business

Before finalizing a name choice, get feedback from your family members, friends, business mentors and potential customers. Ask them the following questions:

What does this name make you think of?
How easy is it to remember or pronounce?
Would you trust or buy from a business with this name?

How people interpreted your brand would help you shape the name even better. Once you’re confident in your name: Reserve it with the CAC online, Register it as a Business Name or Limited Liability Company, Secure your business domain and social handles immediately and Trademark it through the Trademarks, Patents and Designs Registry at the Federal Ministry of Industry, Trade, and Investment. Filing a trademark gives you legal protection nationwide.

By following this guide—defining your business identity, brainstorming wisely, checking legal availability, and testing with real users—you’ll choose a name that helps your business not just launch, but thrive. Keep in mind that professional business names, brand names and domain names are in high demand worldwide. So you can start your search for your prospective business names immediately, once the decisions are made.

Related: How to Register a Company in Nigeria: 5 Step Guide

Make sure the name you choose is available by checking out your preferred names with the Secretary of State and/or the Department of Corporations in your country if you are foreigner. Choose a name that hasn’t been claimed by others, online and/or offline. Use website domain search tools to check availability of your business names and social media handles online.

It’s a good idea also to claim your social media name early in the business naming and development process, so you’re getting everything right together at first. We hope the above tips will help you make the right choice to your new business name. Remember to Contact us if you have problems growing your business in Nigeria.