Starting The Right Way: Your Company Registration
Now that you have unleashed the entrepreneur inside of you, brace yourself because it’s only the beginning of many challenges to come. Starting a business is not all about coming up with a promising marketing plan, there’s more processes you have to undergo. One such is registering your business as a legal entity.
So, how important is registration for your business? Are you aware about its advantages? If you haven’t thought nor realize its weight yet, here are some reasons:
Ownership
No company can carry the same name even after years of hiatus or even at death of its owner. The name and everything that comes with it will exist forever and no one can take it unless otherwise its right is bought from the owner. Not even bankruptcy nor closure can give another entity the opportunity to revive it for another or even for the same purpose.
Protection
Unfortunate incidents are to be expected. When this happens, all the charges will be on the company alone and no personal charges can be filed against the CEO or the person in-charge of the company. Also, all the compensations will be shouldered by the company and not even a cent can be demanded for the owner.
Reputation
It is important to have a business bank account and only legally recognized companies are allowed to open one. Transactions named after a company is much pleasing to the eyes of clients than those who use personal name or account. Having this is one assurance that your company is not amongst those fly-by-night companies making it easier for clients to spend their money on you.
If you think business registration in the Philippines is a long and tedious task, well, it’s not always the case. As long as you have organized and prepared all the needed requirements and documents, then it wouldn’t be that hard. It may not be easy but think of all the benefits that comes along with it, it’ll all be worth it. Remember to ask for help if you think you can’t handle it by yourself.
Post Your Ad Here
Comments