Register Your Business: It’s Not as Difficult as You Think

by Adella Pasos June 22, 2018
register-your-business

Register Your Business: It’s Not as Difficult as You Think

Registering your business with the state and us government agencies shows you are seriously ready for business. If you don’t have a registered business name, you will only be doing business with your personal name. This is called a sole proprietorship. If you have been thinking of the best way to register your business, then you need to read this article carefully. According to a recent analysis, over 70% of business owners don’t have a registered business and this is really an unfortunate situation. It will be wrong to say you are in business if it does not exist legally.

Upon research, they noticed that most entrepreneurs are operating on the basis of simply being uneducated on the topic. They don’t understand what it means to register their business.

Types of available business registrations

Before taking a look at available business registrations; you really need to know the kind of existing business entities as well as the difference between each of them. Therefore,  this will enable you to know whats available and which one suits your business. Keep in mind that every country has different legal systems of registering a business, but the general criteria or principles of doing so is usually the same.

You can simply go to the agency responsible for business registrations and register your business today. If you have challenges or if you are too busy to get this done, you can seek a legal advice or use what I use MyCorporation. They get the legal paperwork filed and done fast for you online. Some of the available business entities are:

> Sole proprietorship > Limited Liability Company > Partnerships > C-Corps > S-Corps

Why you need to register your business today:

It gives you a sense of pride

Taking the time to register your business provides you with a sense of unique identity. There is a pride that comes with owning and running your own business. It is no longer just an idea in your mind. It is now a legal reality with a verifiable name and address. You are at liberty to choose a name that inspires you. Be sure to choose a name that tells good story about your business. Once you have submitted your business name for registration, the first thing the business registration agency does is to ascertain that no other business entity is answering such a name.

It is required by law that no two businesses should operate with the same name. This is done in good faith to avoid creating confusion. Once the name is verified, you’ll be asked to proceed with the final registration processes. Depending on your country, the registration process may take a few days. Once your business registered, no other person can register or use the same name. So, unless your business is formally dissolved or goes bankrupt, the business name is yours. After you get a business name, you can proceed to get a logo designed, get your branding done, business cards, buy web hosting and create a website.

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It gives people the impression that you are serious

Today, many people won’t do business with you if it isn’t a legally registered business. Therefore, not having this may cause people to believe you are fraudulent. Don’t get caught running a business without registering it. For most companies, it is against their tax and regulatory laws to do anything with an unregistered business. If you have an unregistered business, how will you issue receipts to your clients for products and services they sell to you? Registering your business will help you attract more legit customers.

It makes it easy for you to get investment and credit from investors

For most financial institutions like banks, there are two types of loans namely personal and business loans. There is a classical difference between the two. As a matter of fact, no bank will give you money to buy a new house or car or fund an unregistered business. But if you are seeking for a loan to grow your business, then the first criteria banks will ask you to provide is your business name registration certificate.

The same thing is applicable to investors. Investors are not giving you money to finance your personal lifestyle, instead they are investing the money into your business so that they can have a share from your business. Before investing, investors want to know that you are running a credible business and that the business legally exists. They are not interested in giving you money to solve your personal financial needs. To most people, it is classified as a lack of professionalism. This doesn’t make a good impression about you or your brand.

I strongly advise you to go ahead and register your business today. You will never regret doing so!

How important is it to you, to register your business?

 

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