Currently, I am running a couple of businesses and none of my businesses are registered. These are small online businesses that I operate through my laptop and hire virtual assistants to help me. However, in the past, I have offline businesses that were registered through local government agencies. I was even auditing my businesses and paying taxes. Since my businesses make very little profit, I have never considered registering them.
Is Your Business a Registered Business?
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Your online business don't necessarily need to be registered, had it been a brand where you offer services or sell products ,it will have been better you register them for easy advertisement and promotion of the business.
My poultry business is also a small business. I don't need to register it as a company because I don't ha up to 10 employees as required by the legal requirements. However, I have registered a business name so no one can use it.
For now, our business is not registered because we are just a studio. We want to evolve into a full fledged record label. At that point,bwe would need to register as a company and that is what wwbatr pursuing.
Right now, I am just working as a freelancer on translation, and offering business consulting service for start-ups and SMEs. If my consulting service grows, I may establish a company and register it.
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Where do you get this idea that online businesses do not have to be registered? If you are selling something and if you are making money by selling, you are required to pay taxes and you can do it only when you have a registered business.
Well , maybe in my country though, even small online businesses???, well in my country, the focus is not really on online business because even most of them are not registered because they are just small business like selling of data subscription and the likes.
Well, I am not conducting any kind of business. However, registering your business is a great idea in case if you want to avoid legal problems. Registering your business could help you when it comes to taxation.
My business is registered because I understand that you can make gain opportunities to receive loan from the government if your business is registered and I've been a beneficiary of such.
Yes of course, my agricultural business of poultry farming and fish farming is duly registered with the CAC that is responsible for legally registering business in my country.
There are a lot of businesses in my home country that are not registered to any association or even the government yet and they are making good profits from it but it's not bad though as government taxes are going to cripple the business that is even small.
