why is it important to register your business?

[Alexandoy]

When the business is registered it becomes a legal business. However, once you register the business that means you have to pay business tax and you also need to secure a business permit from the mayor. Small businesses can operate without the registration as long as the place of business is yours.

 

[Syldan]

The registration of a particular business with the government, makes that particular business to be more official and legally recognized by the state government.

 

[Shigobad2020]

There are privileges or favours one tends to enjoy if he register his or her business. One of them is getting grants from government. Government only pay out grant to registered businesses

Most of the unregistered business are considered illegal by the government and can be dealt with anytime, and when it is time for Grant and other favours from the government, it is been given to registered business.

 

[Swazykid4all]

Registering your business is good because it's create awareness of what kind of business you're doing to the public and allows the government colet proper data for statistics purpose

 

[Godspower]

When planning for a business, it's important one do a proper registration of his business too. It has so many advantages. Firstly, you can loan money from banks or any organization using your business name, you can open an account with your business name. Let's discuss...

These are all very good points. Registration of business with the appropriate authorities will make your business to be recognized by banks and other financial institutions.

 

[Ghost]

Most of the unregistered business are considered illegal by the government and can be dealt with anytime, and when it is time for Grant and other favours from the government, it is been given to registered business.

Exactly. Like in the case of the COVID-19 government grant empowerment. It was only possible for legal registered businesses and those without the certification was not considered

 

[Sotherefore]

Your business will be more trusted if you register it with trusted agency. When you are operating a business without any government registration , some people may not likely takes you serious because of high rate of scamming activities.

 

[Sincerem]

Most of the unregistered business are considered illegal by the government and can be dealt with anytime, and when it is time for Grant and other favours from the government, it is been given to registered business.

I don't see the need why the government should consider unregistered business illegal after all they are not dealing on illegal products. There are some business too small to be registered with the government.

 

[Smiles20]

There are some certain punishment that you might attract to yourself like a possible jail time if you are not willing to pay your taxes on time period this is why it is important for you to register and do all the appropriate legalities.

 

[Shigobad2020]

I don't see the need why the government should consider unregistered business illegal after all they are not dealing on illegal products. There are some business too small to be registered with the government.

I understand your point but that the law of the country , and I was not actually talking about small business enterprises but big companies has to register their business .

 

[Good-Person]

Registration of your business allows you to function with peace of mind. Unregistered businesses could get shutdown by the government at any time. This is a big disadvantage.

 

[Sincerem]

I understand your point but that the law of the country , and I was not actually talking about small business enterprises but big companies has to register their business .

Definitely , a big business organisation has to register with the government not really for any other thing but just to make your business more efficient. it seems people will be more trusted in business that has a complete registration with the government.

 

[Nomad]

In our country, you cannot operate a business without registering. If your business is not registered, the government can shut down at any time. Therefore, in order to avoid legal hassles, your business needs to be registered. registering is also important for boosting customers confdidence as people only like to purchase form legal business.

 

[Good-Person]

In our country, you cannot operate a business without registering. If your business is not registered, the government can shut down at any time. Therefore, in order to avoid legal hassles, your business needs to be registered. registering is also important for boosting customers confdidence as people only like to purchase form legal business.

What about small businesses such as bakeries, shops, grocery stores, etc? Are they also registered? In our country, it might be possible that certain businesses may not be registered in the sense that they may not be regulated by the government. This may be the case with small businesses.

 

[Nomad]

What about small businesses such as bakeries, shops, grocery stores, etc? Are they also registered? In our country, it might be possible that certain businesses may not be registered in the sense that they may not be regulated by the government. This may be the case with small businesses.

Small businesses like bakeries, shops, and grocery stores also need registration. Street vending is illegal here but the law is not fully exercised, all businesses need registration including online businesses. However, if your business has a small turnover, you will be exempted form taxes. You just need to renew yearly liscence.

 

[Good-Person]

Small businesses like bakeries, shops, and grocery stores also need registration. Street vending is illegal here but the law is not fully exercised, all businesses need registration including online businesses. However, if your business has a small turnover, you will be exempted form taxes. You just need to renew yearly liscence.

Street vending is also illegal in here as well. However, just like your country, the laws are not implemented in here completely. This is why street vending still remains one of the most popular businesses in here. It is mostly started by investors who are not in a position of investing a huge amount of money.