There is an adage saying ‘when you’re in Rome; act like Romans’. It means you have to comply with the rules and regulations of the higher ups where you belong. The government is imposing to all business owners to register their businesses so that it will be acknowledge or so that the government will know about it. You see, it is common sense actually, it is just like registering your new birthed baby. If you will not register it, then it is considered non-existent thus the moment he will start to go to school, he will not be accepted since he has no records. The same thing can happen to a business that is not registered, the moment such business will get into a kind of problem, the government can’t help it since it is not acknowledged in the first place and you will even be penalized for running an unregistered business.
Here are the most valid reasons why even when you are still not earning with your newly opened business, you should register it. In fact, you should register it before it starts running:
– First reason is being professional. You see, consumers are now with brains these days and the first thing they will look in a business is their license. Not only that, they will even check if it is updated. If you approach a potential investor or a client, you will have more confidence knowing that you have all the necessary documents to show. Besides, it will also give you peace of mind since you know that when discovered, your business will surely be closed.
– Registering your business name is like creating a new entity or like a new baby is born. That is right and therefore, because it is registered as separate entity, in case your business fails and there are debts to pay, your personal assets will not be affected but only those assets that are recorded under the name of your business. In short, registering your business name will kind of protect your personal assets. It will also make you deal with clients professionally like if they will transact business with you, the pay will be deposited to your business and not to your personal account.
– It will give you easier time when you need to apply for a loan. For sure you can’t expect to get a loan from a bank presenting yourself as a business owner yet you can’t show any proof of your business since it is not registered in the first place? In short, getting a loan for your business will be most likely possible if you registered your business; the same thing goes when you plan to hire employees since hiring one is not allowed legally if your business is not registered. Get in touch with the business name registration online.
Just the fact that it is imposed by the government should be god enough reason for you to register your business especially that when discovered otherwise, you will be penalized.
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