Another thing that’s often taken for granted by Filipino Micro Entrepreneurs is that no matter how small your business is, it should have a business name. It serves 2 main things:
- Having A Name Means You Mean Business – People get the impression that if you do not have a name, means you are not totally serious about your business. They might like your products, but could just forget about you tomorrow. You do not have a presence, and thus your total impact is lost.
- Exposure – This is a no brainer. If you are serious in your business, wouldn’t you like people to say your business name? Think about it, people would ask “where did you buy that?” and another will just respond “dun kay ate / kuya… yung ano…” Sounds pretty? You get the point.
It is of course better if someone would know your name right away along with the products you sold. Branding is important, and having a particular name would make your business stand out and be spoken about. It should always be a part of your business idea, and best addressed as soon as possible.
The Name Is A Part of Our Business Idea
In our case, we have planned all along that we need a name for our bbq business. I would like the business to be known one day and have customers speaking about it. I also want the business to be acknowledged legally one day, register it to the government and operate legally. This would also serve as a defense against those who would possibly want to rid of us. If you are a legal business, you could be almost untouchable versus other micro competitors. Regardless of how connections do they have, you could present that you are legal in every way possible, unlike them that just spurted out of the blue.