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JagO1213
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Helen B, post: 6691 wrote:
I’m facing a situation at the moment where my business is expanding (hurray!) and I am bringing in two new staff as sub-contractors, with a view to offering them partime/fulltime positions in 12 months time.

Up until now I have traded under my own name:

Helen Bryen : Designer

Simple, does what is says on the tin :-)

My thought at the moment is that with this expansion, I need to acknowledge the contribution of my two new staff, which isn’t achieved by continuing to trade under my own name.

So, I guess at this stage I’m after your thoughts. Should I develop a new business name, or continue to trade on my name?

I have a solid client base who know me well, so I can’t see any issues as far as reputation goes – and the announcement of the staff could go hand in hand with the announcement of a name change.

Appreciate all your thoughts!

Helen.

Helen

I think you have a few good options already being put to you already…I personally like HB Design. It has a little of your identity in there but it is a brand name rather then a persons name.

Just out of curiosity what legal structure are you operating under. Once you creae a brand if you transfer it later it may trigger capital gains tax provisions, however there are roll over provisions builtin, however you might like to consider the long term. If you are currently as a sole trader, this may be the right time to move into a company structure…if you are already using a company then all that I have said about is irrelevant.