What Are the Incredible Benefits of Registering a Company?

What Are the Incredible Benefits of Registering a Company?

Registering your business opens up new opportunities. Trust is earned from customers and suppliers.

Anyone can decide one day to start operating as a business. All that person has to do is provide a product or service to another person that produces a profit to be “in business.” While registering a business with the state or local government isn’t necessarily required to complete business transactions, it is a smart choice for a new Entrepreneur for a variety of reasons. Here we’ll list just a few benefits you can expect from owning a registered company.

Easy access to capital

Capital is a fancy word for ‘money you use to grow your business’.

Remember we said that companies are protected by the law? Well it goes both ways. People who loan money to companies are also protected by the law. A registered company allows people with different interests to enter agreements, knowing they’ll be protected. However, very little protection exists if your company is not registered.

Establishing Business Bank Accounts

You need to provide proof that your business is properly registered with the state to open a business bank account. A business bank account is an important asset to a small business because you can separate your personal activities from your business activities. It is also more professional to give your clients a business name for payment instead of your own full name.

Access exciting professional services

Heard of the phrase B2B? It’s a term that means business-to-business. B2B is a large sector of trade where products and services are supplied to companies.

  • Wholesalers offer lower rates
  • Special import and export rates
  • Tailored business banking solutions and financial loans

No matter what your trade, you will find products and services exclusively offered to registered companies

Reputation With Customers

Customers and clients, especially people you’ve never worked with before, need assurance that you are a legitimate business. A potential client may suspect your business of being a “fly-by-night” operation if your company isn’t properly registered. When a business is on file with the state, it could put your clients at ease when making a decision about whether to spend money with your company.

Click Here To Register Your New Pty Ltd Company

Hiring Employees

A business registration allows you to hire full-time employees and pay them in accordance to state laws. When you register your business with the state you’ll receive a state identification number that allows you to route state taxes on the employee’s behalf. So if you plan to hire on employees to your business, it’s best to take care of registering your business with the state before you even start the search for workers.

To learn more about the benefits of being a registered company, follow us on Facebook or on Twitter. We post valuable advice and tips for making the most of your registered company.

About the author

Douglas Maximus administrator

Douglas Maximus is Founder and CEO of Maximus Admin Support, Africa’s most trusted team of Virtual Administrative Assistants, a company that provide tailor made virtual business solutions support systems that allow the SMEs the peace of mind to focus on the business success. Before starting his business, he spent more than 12 years as company Administrative Officer for an International Leadership Development organisation based in South Africa. After a successful career in the Training, Coaching and Mentoring sector, he and his team now helps entrepreneurs by giving them more time to focus on the big picture by taking care of the little details. Douglas enjoys trying new sports (Table tennis, anyone?) and managing a virtual administrative business. He is available for all basic administrative tasks, private consultations, training, coaching and mentoring. You can reach him at douglas@maxadminsupport.com.