Have you got a business? have you ever thought of registering it? many of us sees business name as something less important. Questions of this nature usually arise;“why register a business when not making anything from it”. That’s what i used to think when i newly started off with web design business. At a time i would be very angry with my self why i don’t; usually get web design jobs to do. I have come to note that clients trust you better if your business is registered and you have proof of it.
I registered my business name July 2012, though i used the money i got from the first work i did for a client.
Whether your business isn’t fetching you any money, i would strongly advice you register it as:
1. You may loose the name you once intended to use to someone who will register the name.
2. It affords you to open a bank account in your business name and enjoy its benefits. Will it not be nice if someone is paying to your corporate bank account than paying into an individual name account. Most people prefer paying to a corporate body to do their work, than trusting and paying to an individual account.
3. Your customer will respect your business if you are registered. This is one thing am starting to enjoy!
4. You will be issued a certificate of incorporation by your country government. With it, your business is fully legal.
5.It makes your business unique, standing you out from the crowd, as you are identify by a corporate name, different from others.
6. A business registration allows you to hire full-time employees and pay them in accordance to state laws. it’s best to take care of registering your business with the state before you even start the searching for workers.
7. Registering a business name allows you to get loan faster and better.
8. Another benefit of business registration is receiving some legal liability protection. If you incorporate, you will not be held personally responsible for certain accidents and other liabilities. Thus, you may find it easier to obtain business insurance, or attract investors, since they will know you are not personally responsible for the company’s well-being.