I have always dreamt of owning a global brand but quite frankly, that dream was quite intimidating given the fact that I was not raised with a silver spoon. However, something in me kept telling me it was possible so I never discarded the idea – though I tucked it away for many years. By the time I decided to start exploring the possibility of unleashing my ideas, I then decided to survey the people around me. The general consensus was that I should not register my business because it would put me under the radar. Obviously, I was directing my questions to the wrong people because registering my business gave exclusive access to tools and resources that are only available to registered businesses.
If you are thinking of starting your business or maybe you already started and you are yet to register your business, here are 5 reasons why you should register your business.
- It puts you under the radar: A lot of people are scared of being under the radar but trust me, if what you do is legitimate, the best place to be is under the radar. If you are an expert in what you do or the services you offer, you want to make sure that you get started on the right note.
- It ensures that you get paid: Many people will rather pay to your business account than a personal account and you can only open a business account if you own a registered business. Corporations and Multinationals will definitely not do business with you if you don’t have the appropriate credentials and if you are okay with being the best-kept secret, then you might keep running your business without properly registered.
- It makes your brand legitimate: The only way you can own a business legitimately is by having it registered. Anyone that tells you otherwise either does not love you or does not know any better.
- It protects you: Registering your business is also a way of protecting your finances. For example, In the US, if you register as an LLC or a Corporation, people cannot go after your personal finances if anything goes wrong. You might need to check your local laws for what applies in your country or state of residence.
- It gives you access to opportunities: There many government rebates and tax breaks given to small businesses and if your business is not registered, you will not be allowed to be a part of these opportunities.
If you need to register your business in Nigeria, you may visit the CAC website
If you need to register your business in the United States, you may visit the IRS website.
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