An assumed business name, is a formal declaration that an individual, company or organization is conducting business under a different name. Assumed names are also commonly referred to as a DBA’s, fictitious business names, doing business as and trade names. Business Owner(s) should not conduct business under a fictitious business name until they have filed a DBA statement. Also, most banks won’t allow them to open an account until they have seen proof that the DBA has been filed. The benefits for business owner(s) of registering a DBA include…
- Open bank accounts under that business name.
- Mention name in contracts.
- Discourage competitors from using your business name.