Starting a new business, even if it is small, can be very exciting. But one of the most fun parts about it is choosing a name. You might think that choosing a name is easy, but it is actually one of the hardest steps when starting up a business. You want to create something that’s interesting, but most of all, you have to make sure that the name you choose isn’t already taken.
In New Jersey, two businesses cannot have the same name, so before falling in love with a name that took hours, days, weeks, or even years to come up with, you want to make sure it’s available.
This article will teach you how to pick the right name, how to check if the name is available, and tips on how to get your business off the ground in the state of New Jersey.
Go to:
How to check business name availability in New Jersey
1. Visit the New Jersey Department of Treasury Division of Revenue and Enterprise Services website
Unlike most states where you need to visit the Secretary of State websites, in New Jersey, you need to visit the NJ Department of Treasury Division website to gain access to their business name search tool. This tool is very easy to use, and all you need to do is type in the business name you thought of to see if it is available for use.
2. Type in your search query
Type the business name you had in mind and click on “Search” to get the results. If the results show and there are no exact matches to the business name you chose for your startup, then it is free for you to use.
However, if there is an exact match, you will need to think of a new name because it indicates that the name is already registered.
3. Keep on searching
If the names you type in have exact search results, don’t lose hope and keep on searching. You might even get ideas from the other businesses that will appear in the search results.
4. Consider reserving a name
After running a New Jersey 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.
New Jersey allows business owners to reserve a name for $50. The length of the reservation depends on the nature of the business.
In addition, New Jersey also allows businesses to register an alternate name. Alternate names apply to profit and non-profit corporations, LLCs, and limited partnerships. The filing fee for registering an alternate name is $50.
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 New Jersey, 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 New Jersey 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 New Jersey company?
As you research available business names in New Jersey, 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 New Jersey business
Ready to set up your business in NJ? Here’s what you do:
1. File your Articles of Organization
Visit the New Jersey 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 New Jersey, 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 New Jersey, the cost is $50.
4. Wait for approval
New Jersey 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
New Jersey small business facts
But before heading into the name choosing process, we thought you might want to read up on these small business statistics from the U.S. Business Administration to give you an idea about the small business industry in New Jersey:
- There are 908,209 small businesses in New Jersey, which covers 99.6% of all the state’s businesses.
- New Jersey employs 1.8 million people, which makes up to almost half of the entire New Jersey workforce.
- The unemployment rate in New Jersey went way up to 15.3% from 3.4% from April 2019 to April 2020.
- Firms with fewer than 20 employees have the largest share of small business employment.
- The most small firms in New Jersey are in the professional, scientific, and technical services industry with a total of 144,041 firms.
FAQs
To further help entrepreneurs, check out these frequently asked questions about starting a business in New Jersey:
Why is it so important to check on business name availability?
New Jersey 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 do I collect sales tax in New Jersey?
A registered business in New Jersey that will be collecting and remitting sales tax will receive a Certificate of Authority for Sales Tax by mail. This certificate permits businesses to collect sales tax and to use exemption certificates. If you own a business, you need to find a prominent spot to display the certificate so that customers can see that you are collecting taxes legally.
When do I file my annual report?
Small businesses in New Jersey are required to report once a year to the New Jersey Department of Revenue. You can file an annual report online, and firms will usually have until the last day of the month they originally filed to start the business.
Can you get a business loan in New Jersey to start a business?
There are many resources to finance your business in New Jersey. One of the most traditional options is a business loan through a local bank. However, the requirements are quite strict and you may be required to create a business plan with financial projections to convince the banks that your business is viable.
What other financing options are available?
To fund a business, you might consider working with an investor, crowd-funding, or applying for a grant.
If you plan to propose a business plan to investors, it has to be bulletproof, and some investors are stricter than banks. Some investors can also be friends, colleagues, family members, as long as you can convince them.
Crowdfunding is an option. You can showcase your product online and ask the masses to fund your product.
You can also look into small business grants specific to New Jersey entrepreneurs.
How do I register to pay taxes in New Jersey?
If you are doing business in the state of New Jersey, you must register for tax purposes and complete the form NJ-REG when you register your business online.
Once you register, your business will receive the necessary forms, certificates, returns, and instructions required to operate and pay taxes in New Jersey. Most of these registration forms can be found online, and it is easy to file without having to visit your federal offices.
How do I hire employees for my small business in New Jersey?
No matter what size your business is in New Jersey, there is a high chance that you will need to hire employees. However, it isn’t as simple as registering a business, registering to become an employer is a different process.
You will need to secure an Employee Identification Number and register for employment at the New Jersey Department of Labor and Workforce Development. You will also need to apply for health insurance, fringe benefits, sick leave, unemployment benefits, and more.
CHK_ YOUR NAME RIGHT NOW
Use our engine to quickly check your content right now!
