An entrepreneur has to follow several steps when deciding to start a new business. Starting a business involves planning, making key financial decisions, completing a series of legal activities, hiring reliable employees and after all of this the success of the new firm is determined by a few steps, which every manager must take into account. One of these steps is adopting a company name, the calling card of the business, taking into consideration the related tips regarding its selection. Entrepreneur must estimate the initial investment and the necessary financial resources. When talking about a company its mission must be clear and easy to understand. Thus, the description of the main activity and the general environment must be present in the business plan as well.