Branding is more than just a logo, but that's a good start. It's about how you want to be perceived by your customers - and by extension how they perceive your products and servcies. In a way it's about creating a personality for your business, establishing a tone of voice which remains consistent through ought your marketing materials and which is backed up by a sound brand promise.

And lets not forget the brand value. If you can create a strong brand it will add value to your business as an intangible asset. The Nike 'swoosh' was designed in 1971 by Caroline Davidson, she was paid the handsome sum of $35. In 1999 Nike's brand value was estimated at $8 billion. It wasn't all down to the logo - but it was a good start.