Are you planning to start a small business in Maine? If that is the case, then you have probably already come up with the best name for your business. Many entrepreneurs come up with awesome names but end up having to choose something different because the name was already taken. So, if you haven’t already thought of a business name, you might want to check the name’s availability by conducting a Maine business name search.
In this article, we will explain how to do a business name search in the state of Maine, and as a bonus, we’ll provide insights and tips that will get your small business up and running in the Pine Tree State.
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How to check business name availability in Maine
Now we can move on to the fun part, which is choosing the name for your business. As stated earlier, you can’t just pick any name because the state of Maine does not allow two businesses to have the same name. The name must be 100% unique and available. So, the next step is to check and see if a name that you thought of is available. Here’s how:
1. Go to the Maine Secretary of State website
The Maine Secretary of State website will prompt you with a simple name search tool that will enable you to type the name and find out if it is available.
Different states have different search tools, but for Maine, the search tool is quite easy to use and all you need to do is enter the name you had in mind. It will automatically come up with matches and exact matches if there are any,
2. Enter your search terms
Input the selected name or names of your business to find out its availability. For example, type in terms like “Maine Street Barbers” or “Maine’s Best Dry Cleaning.”
You can refine your search terms by selecting keywords, such as LLC if you are having difficulty in finding an available name for your business. Compared to other states, Maine doesn’t have as many small businesses, so you will definitely find the right name for you by refining your search terms.
3. Run the search
Next, just enter the name you had in mind and run the search by clicking on “Search.” the website will return with partial and exact matches if there are any.
If the results show exact matches, that means that the name you chose is not available, so you will have to think of a different name until you find one that is unique and available.
4. Consider reserving a name
After running a Maine business name search, you have two options: You can reserve a name or you can register the name. You should reserve the name if you aren’t planning to set up the business immediately.
Maine allows business owners to reserve a name for 120 days for $20. ($10 fee + a $10 handling fee).
To do so, you’ll fill out a quick form and provide the payment.
Again, you don’t need to reserve a name if you plan to officially set up your business with the state of Maine, but if you’re just doing some homework and plan to set up your business later, reserve the name now so it’s not taken when you’re ready.
5. Check domain name availability
We created a tool that makes it easy.
How to name your Maine business
Now that you know a little more about the business landscape in the state, it’s time to start generating a list of names for your business. To do so, follow these steps:
1. Write down basic details about your business
Start by creating a verbal picture of your business. Think about what your business will offer and who it will serve. Will you sell a specific product or service? Who’s going to buy it? Jot down a few details about your company as a starting point.
Next, start creating a list of adjectives that describe your business. Think in terms of keywords. What keywords would your customer use to find the product or service that you offer? Write them down.
2. Stay away from initials and hard-to-say words
There are plenty of businesses that include initials, like A&J Plumbing, but consider upping your game with something a bit more creative and descriptive.
The same goes for names that are hard to say. If your last name is Stackowaski, for example, it’s not conducive to a business name because it’s too hard to pronounce.
3. Don’t pigeon-hole your business
Be careful not to select a name that limits your company’s potential growth. Think about where your business will be in five, ten, even twenty years, and take that into consideration when creating a name.
A company named Bob’s Bargain Books, for example, is a good name, but what if they plan to sell vintage records and cassettes down the road? The name only refers to books, so when vintage music is added people won’t associate it with the store.
4. Consider using a name generator
At this point, you probably have a list of a few ideas. Rather than brainstorm a bunch of different combinations, why not try a name generator? You simply enter a few of the adjectives that you came up with into the search bar and you’ll get a list of possible names.
Name generators can take some of the hassles out of creating a name. Most name generators will only show you available names too, which is helpful.
Check out some of Namechk’s name generators below:
What kind of business structure is right for your Maine company?
As you research available business names in Maine, you’ll also want to think about what kind of business you want to establish. There are a handful of options to choose from, but some of the most common are Sole proprietorship and LLC.
- A sole proprietorship is ideal for small businesses with no employees that want to test their business out. There’s virtually no paperwork to set up this kind of business, which is a plus. However, a sole proprietorship is not a separate business entity, which means you’re financially and legally responsible for any problems that might arise.
- An LLC, or limited liability company, provides a certain amount of liability protection. Your personal assets and your business are separate with this business structure, which means if the business is sued or goes bankrupt, you will not be forced to use your personal cash reserves to bail the business out.
Steps to register your Maine business
Ready to set up your business in ME? Here’s what you do:
1. File your Articles of Organization
Visit the Maine Secretary of State website and fill out the Articles of Organization. To fill this out, you’ll need to have an available business name, address, and contact information.
2. Name a registered agent
You’ll also need to name a registered agent. A registered agent is the point-person for your company who will receive important documents like tax notices or legal documents.
A registered agent must be trustworthy and be available during regular business hours when documents are delivered. The business owner can serve as the registered agent in Maine, or another person or company can be named.
You might decide to name your accountant or co-founder, for example. You can also hire a registered agent service to serve in this role. Northwest Registered Agent, ZenBusiness, and Bizee are a few examples. These companies will receive documents on your behalf and notify you of their arrival.
3. Pay the filing fee
Every state charges a filing fee to file LLC formation documents with the government. In Maine, the cost is $175.
4. Wait for approval
Maine will review your application and typically provides approvals within five business days. Once approved, your business is officially set up.
Our picks of the best registered agent services
Maine small business facts
Before brainstorming and considering the right business name and its availability in Maine, you might want to take a look at these interesting facts about small businesses from the U.S. Business Administration:
- There are 142,270 small businesses in the state of Maine.
- Because of the growing number of small businesses, they provided 4,728 new net jobs in 2016, and firms that employed fewer than 20 people experienced the largest employment gains ever since.
- Out of those 142,270 small businesses, 5,213 are minority-owned.
- Over 50% of the people who have jobs in Maine are employed by small businesses.
- Out of all the small businesses in Maine, the health care and social assistance industry provides the most jobs, with accommodation and food services are in second place and the retail and trade industry in third.
- In the 3rd quarter of 2018, Maine’s economy overall grew at an annual rate of 2.6%, which was slower than the overall US growth rate of 3.4%
- Despite small businesses in Maine generating thousands of jobs in the past few years, the unemployment rate in 2019 is at 3.4%, which was a slight bump up from 3.2% in 2018.
FAQs
To further help entrepreneurs, check out these frequently asked questions about starting a business in Maine:
Why is it so important to check on business name availability?
Maine will not allow two businesses in the state to have the same name. There are many reasons for this, but at its core, it’s to avoid any confusion. For example, if someone plans to sue Bob’s Fruit Stand and there are two of these companies in the state, things can get complicated quickly.
All businesses must have a unique name. And, you can’t just add a hyphen to a name to make it different. Each name must be “distinguishingly different.”
Do I need to register for a Sole Proprietorship in Maine?
Unlike many other states, you only need to register an LLC in the state of Maine. They do not require sole proprietorships operating under another name to register with the Secretary of state.
So, if you are thinking about changing the name of your sole business, you don’t need to register the name, unless you want to turn it into an LLC. However, you still need to file the necessary papers, such as certificates, licenses, permits, and zoning clearance with the city or town clerk.
What legal form of business should I choose?
If you want to register a business and get accredited by the state, the best legal form of business to choose is an LLC or Limited Liability Company. This legal form became effective in Maine on January 1, 1996, and it is a combination of corporate and partnership.
This form of business is taxed as a partnership, meaning your business can make as much revenue as a corporate entity, without owing the state a lot in taxes. Plus, it is the most common legal form of business amongst small businesses in most states.
How do I finance the start-up of a small business in Maine?
First of all, you will need to determine your financing needs. You should prepare a concrete business plan with a feasibility study and a set of financial projections. This complete set will have to include a balance sheet, income, and cash flow statement.
By completing these prerequisites, you can effectively identify your funding needs. Most start-ups in Maine are funded through personal resources that include savings, equity, loans from family and friends, and other investors.
Banks may only lend startups cash if they are completely satisfied with the business plan. If you are planning to get financial assistance from lenders, make sure your plan is bullet-proof with feasible financial projections.
How do I register to become an employer in Maine?
Registering to become an employer is different from registering your business. To become an employer, you will need to obtain a Federal Employer Identification Number or EIN from the IRS.
You will also need to register for state income tax withholding to contribute to unemployment by filling the Application for Tax Registration through Maine Revenue Services. Upon completing these requirements, your registered business can now lawfully provide state and federal benefits to your future employees.
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