A “Doing Business As” name is a name you chose for your business if you do not wish to conduct business under your and your partners’ name. A DBA name is not a form of business structure and thus does not provide legal or financial protection. Your DNA name is simply a fictitious trade name for your business, a nickname of sorts that you use to operate and conduct business with. However, a DBA name does offer certain advantages.
A DBA name allows for better branding potential and opportunities
Your DBA name can be used in many ways to attract opportunities and customers to your business. One method is using your DBA name as the focus of your business’ brand, hence memorable, recognizable and or even catchy. Your DBA name can be used as part of a pointed marketing strategy to promote the brand awareness of your services or products. Through marketing and proper product and service branding, your DNA name can allow your business to sound professional and legitimate. For marketing purposes, it is better to promote and associate your business’ product and services with what will be an established brand name and therefore generate more business through brand awareness and business credibility.
Opening bank accounts in your DBA name
A DBA name provides much needed practical assistance in terms of the bookkeeping and accounting aspects of doing business. Having a separate business bank account will make keeping your personal and business bookkeeping and accounting much easier and also much simpler. Upon opening a business bank account in your DBA name, you may be required to show your DBA name registration forms, and in some cases, your business formation documentation as well. It is important to ensure that you have all the required documents ready, which vary between states and banks, before opening an account. A business bank account in your DBA name will also, in turn, further your brand awareness as customers see the name they are expecting to see, which is your DBA name and not your legal name, on bank accounts, payments, receipts and other transactions with your business. A business bank account in a DBA name can go a long way in establishing your business’ credibility and open other business opportunities as well.
A DBA name for LLC and sole proprietorship
DBA can be advantageous in different ways depending on if you want to form a sole proprietorship or an LLC. A DBA name for a sole proprietorship can help market your business and attract customers. A DBA name can also make sole proprietorships sounds more professional, trustworthy and memorable. A DBA name can be used very differently for an LLC. A DBA name for an LLC also allows you to market your business brand and products and attract potential customers; but if you wish to create different DBA names for the different products and brands of your LLC, if they grow in popularity along the way, you are free to do so. There is no limitation to how many DBA names one LLC may register for, it is simply up to you to keep up with the additional paperwork and fees associated with getting numerous DBA names for your LLC.
A DBA name can help you in more ways than you think, it can establish your business on a corporate level and distinguish your products and services from others, especially in a competitive market. If your want learn more on how to obtain a DBA for your business, you can visit TRUiC’s website or follow these steps to get your DBA today and once you’ve registered for it, you can also find out more about how you will be able to use your DBA.