why is it important to register your business?

[Oloritoks]

It's important you register your business so as to be seen as one business belonging to the formal sector of the economy, this will go a long in giving someone mileage and edge in getting soft loan in bank to boost the business and one can also enjoy patronage from government officials also.

 

[Tinaconcept]

The registration of ones business is very important because it makes the business a legal one, you gets your RC number for operation and can aid your application for loans and government support schemes. Every business needs to be registered in order to reduce fraud and fake goods.

 

[Nicklas22]

It protects you from personal liability
This is arguably the biggest reason why many people have to register their business. Without the legal protection of limited liability, you could lose your business and personal property if something goes wrong (say somebody sues you to court for heavy damages).

 

[christykemi]

Business registration is one of the parameters to a successful business, if you register your business, it's makes it to be recognizable and more presentable with a well labeled and packacking

 

[GIFTMICHAEL]

It is good to register your business to enable you to gain legal recognition and it will make your business or investment to stand as an entity.

When you register your business it will guarantee you that opportunity to collect loan to run your business.

It will make you to receive grants and sponsorship as well

 

[Sariana23]

The importance of registering a company is to do things correctly, with the corresponding documents and records, although the truth is that not all do it, there are countless businesses that do not comply with that ordinance. In my country if they come to a business that is not registered, they close it until they pay taxes and get the legal documents.

 

[Maliha]

Your business becomes official in the market.you also get legally registered because you have then your own identification youalso got authorization by the government.so when any issue comes in your way at least you could get help legally

 

[salman Royy]

A registered business also makes you eligible to receive supplier discounts that you wouldn't normally receive as an unregistered operation. Suppliers commonly reserve wholesale rates for business owners who can show official paperwork from the state. Also, if you plan to try to get government contracts for your company, a business registration is one of the first requirements

 

[Janita]

There are so many factors that affects on registration because it makes our most of the things easy like advertisement really goes higher,taking loans from bank becomes easy in all ways.
Registration is necessary it highly appreciate the company and works in great pattern

 

[Ojonuyo]

In addition to what I had earlier established concerning the registration of a business, when your business is recognize you stand better chances of acquiring a loan from the bank for your business and other government and nongovernmental support funds for businesses.

 

[Ralphjoe]

Registering your business is very crucial as that will make your business to be recognized by the government and also will save your business from trouble with the government.

Business registration gives your business a legal status as a business, you are able to use your business name in any form of transaction involving corporate organizations and other government organizations too.

 

[Abbas007]

Business registration is very important. Not only does it allow the hiring of temporary employees and their payment in accordance with state laws, but when you register your business with the state, you will receive the state identification number that you employed. Facilitates the collection of state taxes from. Strengthens your reassurance with workers and traders. It gives a lot of support to your business.

 

[kayode10]

Once you register your company with the right agency under government, you have expanded your company out reach. With that document, you can trade beyond you particular region. It also gives you ability to apply for government grants since you have registered with them. This helped the company I worked with during the Pandemic outbreak.

 

[Highflyer]

5 Benefits of a Registered Business


Helps you avoid legal problems with the government. Secures your reputation as a legitimate business. Builds trust among suppliers, customers, and employees. Allows you to fully market your brand and business everywhere.A company's Register of members lists all the shareholders (members) of the company. Every company must keep a register of its members. This should be kept at its registered office and should be kept up to date. For a small private company, a bound or loose leaf book can be used.Registration is the process of compiling individual scans into a cohesive point cloud. It involves taking the raw scan data collected onsite and producing a point cloud that can be used for modeling and measuring. Getting the registration right ensures the most accurate measurements, and the best drawings and models.

 

[Adeyoola7]

It protects you from personal liability
This is arguably the biggest reason why many people have to register their business. Without the legal protection of limited liability, you could lose your business and personal property if something goes wrong (say somebody sues you to court for heavy damages)

 

[Doradorwa]

Well... Its important because you can easily get a loan from the bank.... You'll have a government acknowledge business and an insurance against damages.... If you business get destroyed during protest or so you'll be rest assured that you will be payed back.

 

[Afeefah]

Business registration makes your business more stability and gives you a name for your business.
Also registering will enable you to get grants and loan for your business.

 

[Irfan Aslam]

There are many benefits to registering a business. First your business becomes legal and it is important to register the business so that your business does not close down or take over if it becomes illegal. Registering a business means not copying your business name, which can double your losses.

 

[Abibatabosede]

Registration of business is a very important and compulsory step to take in starting up a business because registration gives the business recognition. It's also a source for the identification of the business and authenticity from the government of your nation.

 

[Kinglegend01]

I think the major reason of registering a business is to make it official and also an advertising scheme to target big companies,corporations and investment to patronize you in the business you are opening or establishing. Another reason is ro
follow the rules of the government if a country ,on the law that a business have to be registered before it can operate fully.
Secondly , it helps to take off the issue that may arise when companies drag a particular business name.