WHY YOU SHOULD REGISTER YOUR BUSINESS
Lets say you have a business, and the business starts doing great, it’s actually booming, you are getting new customers every day, new and really big deals and you are thinking it’s time to give your business a legal structure, time to register your business….well..hold that thought.
Now imagine this, somewhere out there is an amateur business guy, he’s into the same business as you but not half as good as you. But he’s smart, smart enough to think of registering his business even before he starts.
Whats the first thing you need to register a business? A business name
So he goes in search of a name, he looks at business billboards, social media handles, google, and somehow he stumbles on your name. Perhaps he’s even one of your customers or that friend that you told the name you have in mind for your business.
Now hes got a name, he does a name search and the name is available, Jackpot!. He goes ahead to register it either as a business name or a company, he even trademarks the name.
Now go back to where you were thinking of registering your name, you employ the services of any of the accredited agents who informs you that your business name is not available. Your heart is broken and just as you were digesting that information you receive a mail from instagram perhaps youtube as well that your business page has been closed because someone reported to them that you are using their trademarked name.
You are confused? Why you ask ? I will tell you ,of course you have been using the name for years but you never registered it. Some smart dude beat you to it. The name now belongs to him and you have become an imposter.
That’s not the end of your woes, no, you loose your customers as well, they mistake the other guy for you,but the guys products are wack so they think you are now wack, they leave and never come back.
Now you are wondering what to do, you can never use that old name its gone, you have to start afresh, you have to get people to know your new business name, its hard but it’s the only way forward. Better late than never.
I hope this illustrates a bit of why you should register your business. Other reasons include
You are issued a certificate of incorporation, this gives your business a unique identity.
Your customers see you as a credible business.
You have access to bank loans .
you can open a corporate bank account.
Your business can continue when you are not there
You can employ people.
You can travel easily to other countries for business transactions.
Don’t be the slow dude in the story be the smart dude. Register your business today
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