Choose Your Business Name

Market research is the practice of collecting, analyzing, and interpreting data about your potential customers, competitors, and the broader industry landscape. This plays a vital role in reducing the uncertainty of launching a new business by providing reliable insights into customer preferences, industry trends, and competitive dynamics. It also enables entrepreneurs to design products, set prices, and develop marketing strategies that align with actual market needs. By grounding decisions in data rather than assumptions, market research increases the likelihood of building a profitable and sustainable enterprise. Is your business idea viable? Connect with your local library or Small Business Development Center (SBDC) to access market research tools.

Make sure that your business name is available. Some things to consider:

• • You can search trademarks before registering. You can use the USPTO Trademark Electronic Search System (TESS) to ensure your domain doesn’t match or closely resembles an existing mark in your industry.
  • In addition, check name availability and uniqueness at the Virginia State Corporation Commission (SCC).
  • Do a Google Search using your exact business name in quotes, such as "Your Business Name". Look through the first few pages of results to see if any existing businesses, websites, or social media profiles are using the same or very similar names. Pay special attention to businesses in your industry or operating in the same state as you, as this could create confusion and trademark issues.

A fictitious name is a name that a person or business uses instead of their legal name. Fictitious names are also referred to as assumed names, “t/a” (trading as), “dba” (doing business as) or “aka” (also known as”). The fictitious name is also registered with the SCC. For example your business may be registered as “Smith Consulting LLC” but may also operate as “Smith Strategies”.