Can you think of the biggest reasons why you should register your business? Read this article carefully to learn why you should.
In 2021, the number of business applications filed was at an all-time high.
A shocking 53 percent more applications were filed than in previous years.
Additionally, 23 percent more applications were filed in 2020 than in 2021. This increase can be largely attributed to the surge of online businesses.
When you’re starting a business, there are a lot of important decisions to make and things you need to do in order to get your company off the ground.
One of the most important decisions you’ll make is whether or not to register your company.
Too often, aspiring entrepreneurs put off this decision until it’s too late, and that can lead to a lot of headaches down the road. So, why should you register your business? There are actually quite a few reasons. Here are some of the most important ones.
Why do businesses need to be registered?
- Business registration helps build your identity and makes it look like you’re a credible business. It can also help customers find you more easily.
- It attracts business and funding opportunities: To get a business loan, you need to have an official business registration. Investors are more likely to invest in your project if it’s registered.
- It establishes your company as a separate entity: When your business is registered, your personal and business finances will be treated as separate.
Where do I register my business?
Registering your business is one of the smartest things an entrepreneur can do.
Once you’ve decided on a business name, it’s time to make it official.
Register your business as a legal entity with the applicable governing body for your state.
How and where you need to register depends on your business structure and business location. For most small businesses, registering your business is as simple as registering your business name with state and local governments.