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You have spent a lot of time planning your new business, from the initial idea to a business plan that will wow them down at the bank. But you have yet to come up with a catchy name for your new found business venture.

Choosing a business name is as crucial as finding financing. You will want a name that instills confidence, is descriptive and will be remembered long after the first time your customer hears it.

But how do you go about finding the perfect name$%: Here are some suggestions to help you name your new business venture.

1. Decide what you want your customers and vendors to think about when they hear your company's name. Keep that in mind when you chose your new business name.

2. Brainstorm a list of names, from the silly to the serious. Depending on the kind of business you are starting, a silly name can be as good as a serious one. But do try to keep your new name short and easy to pronounce.

3. Ask others what they think of your choices. If you have a business partner, then you and your partner would chose the name. But if you are on your own, then ask family and friends if any of the names sound good. Also ask them if they have a suggestion for the name.

4. Cross the ones that sound too similar to other companies off your list. You run the risk of another company suing you over a similar name, which can be time consuming and costly.

5. If you are going to want a web site, check for domain names with your top choices. Cross off the ones that are already taken.

6. Check with the state you live in to see if there are any companies with the same name. Even if they aren't in the same type of business it could be confusing to your potential customers. You can check this through the Secretary of State's office.

7. Also check for DBA's, doing business as, companies. Some smaller businesses or sole proprietorships might have a DBA similar to the name you wish to use. This can be checked through the County Clerk's office.

8. Once you decide on a name, make sure it won't be used by any other company. Register your business name or file your incorporation papers right away. Hesitating could mean losing your wonderful business name to another company.

9. If you plan on having a web page, get your domain at this time too. Also, be sure to register any obvious variations on your company's name. You shouldn't be paying more than $10 or $20 per year to keep your domain name safe from other users.

10. You should avoid names that are based on your name, ones that are generic, or are based solely on geographical location. Using a family name can become a problem should you want to sell the business. Too generic a name and your customers could have trouble remembering it. Naming your business after the city/state you are in could backfire should you decide to expand your locations, or have to move altogether.

Choosing your new business name does not have to be difficult. You want to choose one that fits your personality and your business outlook. A name your customers will remember fondly for years to come.