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Starting strong, why a business license is important?
While it seems too annoying and troublesome, registering your business and obtaining a license for it is a must if you want to set a smooth sail. According to data by The Telegraph, in 2016, about 80 companies were born in an hour and by the end of 2015, more than 600,000 companies were registered. Thus, it emphasizes how significance a business permit is.Then, why a business must be registered? Here are the reasons why.
First, by registering your business, it means protection for your company. It means the whole company is guaranteed under its license. Once you have registered your company, its whole personal asset is also protected by legal force.
Not only protection but also the registration eases you to record the company’s income and loss. Moreover, it will be easier for your business to be get funding once you have obtained a business license, regardless of the size of the business.
And second, a business license guarantees your accountability for your customers and employees. Imagine having a resto or a salon. Of course, you need a license for that. Should anything happen between you and your customers, the license is of course at stake. However, if your license is properly registered, you don’t have to worry. It works the other way around if you misuse your license. By the license, people may recognize your business as a formal, strong, and thriving business.
In brief, registering and obtaining a license for your business ensure your safety and your credibility toward customers and your employees. Without license, a business is unable to grow and several drawbacks await. So, please do register your business and obtain your license!
Source: https://www.bmmagazine.co.uk/in-business/advice/importance-business-registration-licensing/
