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Coronavirus has affected nearly every facet of our lives. The changing world of work, elbow bumps and the never-ending zoom calls are all something we’ve grown accustomed to. One unexpected effect is how COVID-19 has even spread its way into how new businesses name themselves.
Since the start of lockdown, there have been over 200 newly formed businesses that have taken inspiration from the pandemic, to meet the surge in demand in certain sectors. Here at SJD, we have found that some of the most popular business names for companies formed during the pandemic include ‘lockdown, ‘pandemic’ and ‘COVID-19’.
Unsurprisingly, the sectors that have thrived and make up the bulk of these newly found companies are directly related to the virus. Our research shows that cleaning companies make up 20% of new businesses using COVID-19 in their name. This is mostly due to sanitisation and deep cleaning enquiries skyrocketing.
Cleaning isn’t the only sector that has seen newly formed businesses adapt to the changing circumstances. For example, the majority of the 52 new businesses with ‘lockdown’ in their name were in retail. This included one business called ‘Lockdown Liquor’ this may have been due to a growth of 31.4% in alcohol sales during the lockdown. Other great examples were, ‘Lockdown Pizzas’ and ‘Lockdown Bakery’.
"Selecting a name is vital for a company’s identity, but it’s also one of the trickiest decisions to make, it’s been fascinating to look at the entrepreneurial spirit people have shown towards creating a new business during a global pandemic.” - James Foster, Senior Commercial Manager at SJD Accountancy
If you’ve ever watched the apprentice or even taken part in a pub quiz, you can see the nightmare it can sometimes be choosing a team name. This is something some entrepreneurs and freelancers experience when starting their new venture. They have the idea, but what name?
To help new business owners we are pleased to announce our new business naming generator. This nifty tool gives you up to 18 name ideas and can help inspire you when naming your new business.
Appointing an accountant can save you time and stress when starting up on your own. If you would like to speak to someone about any of the above information or any other queries you may have, arrange a callback and a member of the team will be in touch.