No matter how small your business might be, as long as it has a name, it should be registered. Over here we have so many small businesses that has been working for years but have not registered their business. They feel since they do not have an offline store or office there is no need. As long as you have a brand it is important you register your business. Especially if you have plans for growth in the future.
Don't forget to register your business
- Thread starter eldavis
- Start date
Good one. Yes, even small businesses should be registered. It is also another way to pay the intended taxes. I believe our government here imposed this that establishing a business, a business permit is needed.
- Thread starter
- #3
Over here it's a law but people don't really take it all that serious, especially does who are running a small business where they use social media as their shops and the likes. They feel there is no need for that.
I think it is the same here. If they are on social media, they are tolerating the law. However, all establishments here, big or small should have business permits. If not, they know what is going to happen next.
- Thread starter
- #7
Yes another advantage is that your business is protected by the law. If there is any government opportunities for business owners you can easily join in cause your business is registered officially.
In my place, once you register your business, you have to go to the Department of Trade and Industry. It is not only registration but also business permits and mayor's permits. No one can do business here without following the procedures.
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- #10
Really? I was not aware of this aspect, what are the minimum requirements needed to register? I used to think anyone can just simply go and register their business when they have one.
Yes, in my place, it is also a legal requirement that business should register their business. The business registration certificate should be displayed on the shop. Those not registered are taking the risk of getting penalized or even closing their business.
Having a legal requirement for businesses to register is important for several reasons. Firstly, it helps to ensure businesses are operating within the law and are accountable for their actions. It also provides transparency for consumers, as they can easily verify the legitimacy of a business by checking their registration certificate.
Registering your business is essential if you have plans to become a big time player in the industry.
