Thinking about setting up a shop in Missouri? One of the first things you should do is come up with a unique and catchy name that will spark public interest. Even without knowing what your business is all about, many people will judge it based on its name. You have to come up with something cool, catchy, and easy to remember. However, the name must also be available.
To help, we’ll explain how to check name availability and provide additional tips on registering a business name in the state of Missouri. In addition, we’ll provide some useful stats that entrepreneurs can use to fuel their new endeavors.
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How to check business name availability in Missouri
Now that you thought of a name or created a list of possible names for your small business in Missouri, it’s time to check if the names you thought of are available and up for grabs. Here is how to check the availability of your potential business names:
1. Visit the Missouri Secretary of State Website
Go to the Missouri Secretary of State website and search for businesses using their simple name search tool. With this search tool, you can search for all registered businesses in the state of Missouri, and cross-reference with your list of names to make sure they are available.
2. Type in your search keywords
You can type in search keywords to refine your search, but it is better to search for the name you came up with to see if there are any exact matches.
3. Check if the name is available by comparing the results
Once the results pop up, see if there are any exact matches to the business name you created. If there are no results at all, it means that the name hasn’t been registered yet. And therefore, it is free – or available – for you to use.
4. Consider reserving a name
After running a Missouri 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.
Missouri allows business owners to reserve a name for 60 days for $30.
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 Missouri, 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 Missouri 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 Missouri company?
As you research available business names in Missouri, 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 Missouri business
Ready to set up your business in MO? Here’s what you do:
1. File your Articles of Organization
Visit the Missouri 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 Missouri, 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 Missouri, the cost is $105.
4. Wait for approval
Missouri 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
Missouri small business facts
Before brainstorming a name for your company, take a look at these small business facts in the state of Missouri. These facts and statistics from the U.S Business Administration will give you insight into opening a small business in the Show-Me State.
- In the state of Missouri, there are over 500,000 small businesses, and it adds up to over 99% of all Missouri businesses.
- The small businesses in the the state of Missouri employ 1.2 million people, which is 46.8% of the entire private workforce, not including government offices.
- The unemployment rate went down from 3.5% to 3.2% in February 2018 to February 2019, which is below the national unemployment rate of 3.8% in that same year.
- Firms with fewer than 100 employees have the largest employment share out of all small businesses in Missouri.
- In 2016 alone, small businesses created over 30,000 net jobs. And firms with fewer than 20 employees experienced the largest gains, adding 19,569 net jobs compared to firms with 100 to 499 employees that only gained 4,784 jobs in the same year.
- Banks decreased from 288 to 275 from June 2016 to June 2017.
- 91,751 loans under 100,000 were issued by Missouri lending in 2017 as part of the Community Reinvestment Act.
- In 2017, 6,324 new establishments were opened, generating 19,559 more jobs for the people of Missouri. However, in the same time period, 7,229 firms exited causing 18,240 people to lose their jobs.
- The industry with the most number of employees are the health care and service industry with 190,900 employees, followed by the accommodation and food services industry and retail and trade industry with 160,339 and 111,896 employees respectively.
- There are 5,104 small business exporters in Missouri.
FAQs
To further help entrepreneurs, check out these frequently asked questions about starting a business in Missouri:
Why is it so important to check on business name availability?
Missouri 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.”
How much will it cost for me to register a small business in Missouri?
The state will charge you $50 to file the Articles of Organization online and $105 for paper filings. Online filers will have to pay an extra $1.25, with the option to reserve a name for as low as $30 for a 60-day LLC name reservation.
For partnerships, applications will cost $55 for two people. However, if your business has multiple partners, it will cost $50 each for every new partner.
How do I dissolve a business in Missouri and how much will it cost?
In the state of Missouri, you need to file a Notice of Winding Up. This form will inform the state that you are in the process of ending your business. After filing the Notice of Winding Up, you can proceed to the next step, which is filing the Articles for Termination.
Both forms cost $25 each, and you can choose between mail or online filing, unlike other states, you are not required to get a tax clearance to dissolve an LLC in the state of Missouri.
What industry has the most companies in Missouri?
The industry with the most number of businesses in Missouri is the general service industry excluding public administration. This industry includes general services with over 80,000 firms that are scattered across the state.
The next industry with the most firms is the construction industry. Because many people are in need of construction materials for infrastructures, there are over 63,900 construction firms, including contractors and builders throughout the state.
What industry has the fewest competitors in Missouri?
The industry with the fewest competitors and lowest number of firms in the state of Missouri is the utility industry. Not every company can provide homes with their basic utilities, such as electricity, water, and gas– which is why there are only 367 utility firms in the state.
How do I hire employees in Missouri?
Like most states, you will need to get an EIN or employment identification number to legally hire employees. But aside from getting an EIN, you will also need to file for worker’s comp and insurance.
You can obtain your EIN online or by phone from the IRS. This nine-digit number, which acts as a business social security number, is issued quickly online. You’ll fill out a five-minute form and receive the number immediately after submission.
You need this number before you can hire employees.
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