Businesses are becoming more profitable and so are the people they work for.
That’s the conclusion of a new report by the American Enterprise Institute, which found that the value of a business name is an important factor in the success of a company.
The report also found that businesses with a name worth $1 million or more are more likely to be profitable than those with a smaller business name.
The study, titled What Is a Business Name?
The Answer, was released Wednesday and comes as companies are starting to explore new ways to differentiate themselves and their products.
The authors found that names that are descriptive and descriptive enough are more effective than those that are less so.
The name that is not descriptive enough can be a negative and can discourage customers from purchasing from a company, the authors wrote.
Businesses with a business-centric name, such as The Company, have the best chance to succeed, the report found.
“Businesses with names that include the word ‘The’ stand out and have a more positive impact on consumers,” the authors concluded.