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is every business out there registered? No because some don’t bother to do so. Maybe because they think it’s not so important. But it actually is – VERY. Why? There are many things a legitimate business can hold as an advantage. Take time to read on and find out.
The most obvious of all would be your business reputation, when customers see how legit your business is, they trust you, they buy from you, you earn. See the cycle? They doubt you less when they know you’re a registered business and it’s a good way to start. Also, when you have established your business name, it can no longer be used by any other businesses.
Next would be your tax deductions. There’s a long list on how and why you can be at an advantage to these tax expenses but to simply say, it lets you save/earn more money because of the business-related expenses. Take a little time to research and you’ll be surprised as to how and why.
A registered business will keep you protected from liability problems. For example, the business structure you are in is a partnership, considering you and your partner are dealing with liabilities and he/she turns away from it, you can have the right to sue him/her. And because your business is recorded under the state, the jury can read legitimate reasons and information needed to settle in your favor.
On the other hand, it does not mean that if your business is legally registered, success is ready to show up – no, it will always depend on how you handle things. Hard work will eventually pay off but knowing your business and keeping it legal will help you improve your business opportunities over time. Start your business with confidence and never be too lazy to register it in the nearest local government. Good luck!