Jo Swinson said that “making life easier for startup businesses will help to create a stronger economy. Rules on certain types of words shouldn’t be an additional hurdle, so reducing the list of company names needing approval makes sense”. This is likely to be welcomed by some new businesses that want greater flexibility with company names.
However, it may be argued that reducing the number of sensitive words that are protected in company names will have a limited impact on creating a stronger economy. Many businesses operate under trading styles that are different to their actual registered name. Businesses are not successful because their preferred company name is easily registered and the administration involved registering a protected company name can be easily completed in some circumstances.
Small Firms Services welcome the reduction in the number of sensitive words. These changes should make forming a company easier for start-ups as they will encounter fewer problems choosing an available name. There are many occasions when the list of protected words has caused accountants and company directors delays with the registration process.
If you need any assistance registering a company with a sensitive word included in the company name please contact us for friendly advice. We can assist with the registration of many sensitive company names.