Commerce
When embarking on the planning phase of a business project, it is essential for the owner or the direct supervisor to follow a series of critical steps. This involves developing a comprehensive financial and economic strategy, including the preparation of a feasibility study prior to the actual implementation of the business. This approach helps prevent potential disruptions that could complicate the plan, especially before the project is officially launched. Furthermore, a thorough feasibility study significantly increases the likelihood of the project’s success during its initial operational phase, measured by the positive outcomes achieved once the public becomes acquainted with the business and recognizes its brand.
One of the most important steps to consider before starting any project is selecting the type of business activity. This choice shapes other essential components, such as the location where the business will be established, whether physical or virtual. Additionally, analyzing the demographic characteristics is crucial as it aids in identifying target audiences for the business activity. Understanding the economic environment of the community also contributes to establishing the correct foundations for initiating the business project. Before officially announcing this project, it is vital to assign a unique and distinct name, commonly referred to as the commercial name.
Suggested Business Names
There are numerous commercial names that can be used across various business activities in the marketplace. These names assist in identifying the nature of the business. Below is a table featuring a selection of proposed commercial names:
| Type of Business | Suggested Commercial Names |
|---|---|
| Restaurant | Delicious Bite, Health and Happiness |
| Hotel | Sweet Dreams, Cozy Bed |
| Hospital | Quick Recovery, House of Healing |
| Flower Shop | Lilac Blossom, Rose Essence |
| Toy Store | Playland, Childhood Games |
| Building Materials Store | Wadd, Steel |
| Clothing Store | Shirt and Pants, Fashion Wear |
| Gift Shop | The Lovely Gift, Gift Time |
| Accessory Shop | Trinkets, Silver and Gold |
| Men’s Barber Shop | Scissors and Comb, The Handsome Man |
| Women’s Hair Salon | Carmen Beauty, The Beautiful Lady |
| Musical Instruments Shop | Tones, Melodies |
| Library | Pens, Useful Books |
| Car Rental | Fast Car, Road to Safety |
| Bakery | Arabic Oven, Hot Loaf |
| Pharmacy | The Healing Medicine, Health and Safety |
| Tailoring Shop | Needle and Thread, Beautiful Fabric |
Commercial Names
Commercial names, known in English as “Trade Names,” refer to the designation given to a specific business. These names may be well-known terms that are associated with the business activity or newly coined terms created with a creative approach. Another definition of commercial names encompasses the use of a combination of words and terms that add a name to a particular business, contributing to its intrinsic value before it gains financial worth in the future—especially when the commercial name evolves into a globally recognized entity.
Characteristics of Commercial Names
Commercial names should possess specific attributes that enhance their acceptance. Important characteristics include:
- The commercial name must align with the nature of the profession or business; for instance, “Natural Juice” should not be used for a soft drink factory.
- It is preferable to utilize abbreviated commercial names that facilitate quick memorization by consumers.
- Avoid commercial names that bear the names of specific individuals.
- The name should be distinctive, helping to differentiate companies and enterprises operating within the same environment.
- The legal soundness of the commercial name is crucial, meaning it should comply with public law and not contain any terms that contradict societal morals, ethics, or traditions.
- The commercial name should be intuitive for consumers, making it easy for people to recognize and remember.
How to Choose Commercial Names
Selecting an appropriate commercial name that aligns with the nature of the business or product offered by the owner requires careful consideration of the following aspects:
- Thorough and logical thought regarding the name that will be employed for business promotion.
- Linking the commercial name to the type of product being offered.
- Incorporating a description within the commercial name that outlines the nature of the service provided, such as “Happy Bread Bakery.”
- Designing a logo that complements the commercial name and aids in promotional efforts following its official launch.
- Seeking expert opinions on choosing commercial names, especially from those with prior experience in the relevant business sector.
Registration of Commercial Names
To officially register commercial names, certain essential steps typically need to be taken:
- Providing personal identification, such as an ID card or passport.
- Obtaining an official commercial registration certificate.
- Gathering the documentation related to the establishment of the business entity.
- Securing the necessary legal approvals.
- Approaching the authority responsible for commercial name registration, which is usually the Ministry of Commerce or the general chambers of commerce.
- Paying the designated fees for processing the registration of the commercial name.
- Submitting an application for verification by the relevant authority to ensure the chosen name adheres to rules, guidelines, and regulations pertaining to commercial name registration.
- Upon completing all procedures related to registering the commercial name, it will then be available for use in conjunction with the specified type of business, as evidenced by the official certificate of the commercial name.