If you have a business but not yet registered then many issues can arise regarding running the business unethically. As for every business you open and run some kind of paperwork or registry is needed must. Thus if you have plans for your own business, first go and register a business to make it full proof and secure. This is such area or process that creates the most confusion, mainly to new business owners, is the process of “business registration.” What’s required? There are many related terms meant regarding “business registration” which includes incorporation, registering with tax authorities, trade name registration and many more you should know. But all these processes are not needed for every business. There are many steps and ways to register but in today’s generation everybody likes the work done on internet easily. So the best part is you can do 70% of the registration work on internet itself along with some offline work. Government has made this easier to save time and money by registering online as you can find official website which can make your work easier in many terms and provide you great comfort. Thus below are some steps you can follow to register online.
- First step- Apply for DIN (Director Identification Number) and DSC (Digital Signature Certificate)
- Second step- Get Company name approved and get certificate of Incorporation
- Third step- Offline Step 3 to complete Step 2 which means you need signed and stamped copy of Memorandum of Association (MoA) and Articles of Association (AoA). Some more words are added to it which needs to be filled and get completed.
- Fourth step- Apply for PAN(Permanent Account Number) and TAN(Tax Account Number) for your registered company.
- Fifth step- Once all done you are ready to start your business.
Are you thinking if these steps are necessary or not? You should not think as register a business is very important to run perfectly without risk. If you are a registered seller you can get many benefits associated with it which includes:-
1. Establishing business bank accounts: – If you are willing to open business bank accounts you need to show proof that you are registered to your state. It is an important asset for you business manage easily your personal and business activities differently. It also gives you a professional impression to give your clients a business name for payment rather than giving your full name.
2. Getting loans easily:- If you will be a registered businessman, you loan application can be fulfilled easily because when you will demand for loan all the lenders and investors check for paperwork of your business then only they pass on your loan.
3. High reputation increase with customers:- It will prove your clients that you are not a fraud but a legiminate business person and this is possible if you have registered.
4. Easy supplier arrangements for business growth:- If you want to get discounts from suppliers it’s better to get registered as suppliers usually reserve wholesale rates for business owners who are registered officially to a state.
5. Hiring employees: – You can hire full time employees easily if you register.
Like this there are more terms and conditions or rules and steps to follow if you want to register a business. Just be attentive and go through all nicely.