You want to start your own business. You’ve got the drive, the necessary resources, and some brilliant ideas brewing too. Guess what? We’ve been there and brewed that!
From our experience, we can confidently say that registering a company name officially isn’t something you can “DIY.” It’s a long and tedious process to handle all on your own. At the same time, finding cost-effective options to get it done is just as important. What if we told you that we’ve got you covered?
Actax India is the perfect blend of time-efficient, innovative, and friendly service, the perfect partner to help you get through this tiring process while you focus on what truly matters.
And that’s not all! If you’ve landed on this blog, you probably have questions like, “How can I start my own company?”, “What is a good company name?”, or “How to register a company in India?”
Worry not! We’ll answer all your questions and help you make an informed decision by the end of this blog.
How to Choose Company Name For Registration? Actax's Expert Guide Will Help You
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You want to start your own business. You’ve got the drive, the necessary resources, and some brilliant ideas brewing too. Guess what? We’ve been there and brewed that!
From our experience, we can confidently say that registering a company name officially isn’t something you can “DIY.” It’s a long and tedious process to handle all on your own. At the same time, finding cost-effective options to get it done is just as important. What if we told you that we’ve got you covered?
Actax India is the perfect blend of time-efficient, innovative, and friendly service, the perfect partner to help you get through this tiring process while you focus on what truly matters.
And that’s not all! If you’ve landed on this blog, you probably have questions like, “How can I start my own company?”, “What is a good company name?”, or “How to register a company in India?”
Worry not! We’ll answer all your questions and help you make an informed decision by the end of this blog.
Why You Should Register a Company Name in India? Learn Benefits
Choosing & registering your new company name may seem like another difficult task. Yet, it is worth doing as it offers a wide range of benefits for your business journey. Starting from creating an identity till you scale & expand your new business, the company name plays a major role.
1. Registering Business Name Protects you Against Personal Obligations
If you ever face any financial challenges in a partnership or sole proprietorship, your personal assets are at risk if you fail to register your company legally.
Basically, registering a company name helps you separate your business and personal assets, and it helps you shield your personal property and wealth, keeping it protected from business liabilities and potential lawsuits.
2. Your Company Name Builds Trust and Goodwill
Let’s assume you have to collaborate with other businesses, in that case, would you rather do business with a registered, legitimate company or an unregistered, informal operation?
Customers, investors, and suppliers are more likely to trust a business that’s been officially recognized by the government. This credibility makes your business appear more professional, which can help you attract new customers and partners.
3. Separate Business Name Can Help Your Business Get Loans & Investment
Adding to the previous point, investors look for legitimacy and security. It also makes the process easier to have access to bank loans, bank credits, and other forms of financial support that aren’t available to unregistered entities.
An industry survey claims that 42% of small business owners find it easier to secure funding once their business is properly registered. Here you can check out how to get a business loan in India for your small business or startup.
4. Accelerate Growth & Scalability with Brand Name Registration
When you register a company name, you gain the ability to scale your business, by raising capital, hiring employees, or expanding operations.
As a legally recognized entity, you can enter contracts, make partnerships, and secure resources more effectively. This kind of stability positions you for growth, something that’s harder to achieve when you’re flying under the radar.
Although this seems crucial and time-consuming, it need not be! Actax knows and understands how important it is for you and we can help make this a seamless, hassle-free process to get by. If you are planning to start a new company in Bangalore, see our offerings.
How To Choose and Register a New Company Name in India? Quick Tips for You
Imagine you’ve spent months building your business, you’ve put so much thought into your business name and created all branding materials surrounding it, only to realize someone already owns the business name. That’s an Oops moment for any business owner.
Use tools like the MCA portal for name availability, before you jump into creating your brand surrounding your business name. You can even take the next step by having a Chartered Accountant certify your application, preventing the need for intervention from the Registrar of Companies (RoC).
Not only that, if you fail to meet the legal requirements, it can lead to your application being rejected by the Ministry of Corporate Affairs (MCA). In fact, industry studies show that around 23% of registration applications are delayed due to naming issues.
How to Avoid Setbacks in the Company Name Registration Process?
- Avoid names that violate laws, such as those related to emblems or the Names (Prevention of Improper Use) Act, 1950. These could cause your registration to be rejected.
- Don’t use words like State, Government, or others that are restricted unless you meet the required criteria.
- Avoid using generic terms, phonetic similarities, or plurals in your business name to stand out from the competition.
- If your name includes sensitive words like Bank, Insurance, etc., ensure you have the necessary compliance declarations. It’s wise to consult with your CA for detailed guidance.
You can also make the process more quicker by learning Expert Solutions To Win Major Pitfalls during new company registration.
Why You Shouldn’t “DIY” Registering a New Company Name?
It may seem like registering a company name may seem doable all by yourself on the surface level, but it often leads to more headaches than savings. Here’s why:
Complex Guidelines, Not Everyone Can Understand –
The Ministry of Corporate Affairs (MCA) has a complex set of naming rules that can be tricky to keep track of, especially if you’re new to the process. One small mistake can lead to rejections and delays. Taking an expert’s help can save you time & make the process more hassle-free.
Endless Paperwork –
The process involves extensive documentation, and even a minor oversight can derail your application. Missing or incorrect paperwork means starting over, costing you valuable time. Along with this, you will have only 2 attempts to get approval for name registration. If failed to get registered in 2 attempts, then you have to pay ₹1500 for another application.
Costs Your Time –
On your own, the registration process can drag on for 30–45 days. In contrast, experts like Actax can help you complete it within 7–10 days, saving you from unnecessary delays.
DIY might seem cost-effective, but the potential delays and frustration can outweigh the benefits. Why go through such hassles when we can help you with our expertise?
What the Stats Say About DIY Company Registration?
- 30% of entrepreneurs face issues due to documentation errors and regulatory misunderstandings.
- 45% experience delays due to name rejections or problems obtaining DINs and DSCs.
Those who hired professionals spent 50% less time on the process compared to DIY efforts.
How Can Actax India Help You Register New Company Name?
If you’ve reached this section of this article, then you’d understand the process that goes behind registering a company name, the overwhelming amount of guidelines that you’d have to follow, and the consequences you’d have to face if you fail to adhere to guidelines and miss any itty bitty details, just in case.
It is advisable to make use of expert services for Statutory, Business & Legal compliances always. Be it name registration, company registration, tax filings, ROC filings, Trademark issues, etc.,
Why You Should Choose Actax India for New Business Name Registration?
1. Our Expertise Save Your Time and Money
We are well versed with MCA’s naming rules, navigating regulatory complexity & Tedious paperwork involved. We know the process inside out. We have 15+ years of continuous experience in helping businesses get their Name approval done quickly by following our best practices.
2. We Offer Tailored & Affordable Solutions for Startups
Starting a business comes with financial challenges – we understand it. That’s why we offer cost-effective & tailor-made solutions for businesses & startups in Mumbai, Delhi & Bangalore. Be it a small part of the registration process (basic registration) or a comprehensive compliance solution, we provide transparent fixed costs with no hidden pricing & surprises. With us, get the right foundation for your business without breaking the bank.
3. Experience in Providing Comprehensive Services Beyond Registration
Yes, we’re talking about registering your company name but, we also help startups with intelligent consultation to help them access government grants like the Startup India Scheme for MSME benefits. From compliance to post-registration formalities, we ensure you’re set up for success from day one.
4. Error-Free, Fast-Track Service
Did you know that 35% of self-registered applications get rejected due to simple mistakes?
With us, you’re in safe hands. We approach the process with our experts who will help eliminate errors, making sure your application sails through without delays or hassles.
5. Trusted by 500+ Businesses
We’re not just saying this, we’ve helped over 500 businesses with accounting, tax regulations, and business compliance, driving their growth by 2x. Our track record speaks for itself.
Start Your New Company Name Registration
While registering a company name seems easy enough, it’s also full of potential pitfalls. Choosing the right business name, and navigating compliance laws, in this tedious process, even small missteps can snowball into major setbacks.
That’s why professional help matters. We at Actax India simplify the process, save you time, and set you up for long-term success. Why risk the headaches of DIY registration when you can have experts by your side?
With careful planning and our support, you can lay a solid foundation for your business and focus on what truly matters.
