Your business name should describe the product or services you offer. Fancy names such as, Linda's Clipping Service will lose potential walkin customers to the beauty shop across the street that calls itself Patti's Beauty Salon or Jane's Hair Styling shop. The use of your full name in the title of your business, such as Johnny Jones' Meat Lockers, has the advantage of making credit somewhat easier to come by, provided you pay your bills on time. However, there is also the disadvantage of confining your services to a local or regional market. Consider this decision carefully.
Most businesses tend to grow quickly or they never get off the ground.
There are a few exceptions that grow at a modest rate, but these are few. Thus, buying a piece of property and setting up your business on or within that property obligates you to ownership regardless of what happens to your business. However, leases are also a risk. Most leases are strong contracts written to the advantage of the property owner. When you sign an agreement to pay someone for the use of their space over any length of time, you're agreeing to pay for that space regardless of what happens to your business.