Should I Register My Business?

Business registration

What is the point or better aim of an Entrepreneur’s life? What does a company mean to them? Why do they want to establish their own company, their own business, own services when there are so many of them already? What makes them think that they will stand out? Is it a mere hunger of money or is it more? You may ask these questions when you see an Entrepreneur who is completely indulged in his company, his work. But what you need to understand is that an Entrepreneur lives, eat and pray for his work. He loves what he does. And the passion and hunger for success more than money make him think that he can stand out. He aspires to make a change. He is born to give orders and not to take them. He is a leader who wants to work in his own way. But even though our country is a democratic country we still need to follow certain rules and laws. An entrepreneur and his company are not legally recognized until and unless it is registered. But why do we need business registration when we have our own freedom to do anything? There can be certain reasons as to why you should get your business registration.

One simply being abiding by the laws. Even though you have the freedom to do anything, there are certain limitations to it. You cannot do anything that can harm others in any way just to establish yourself. And the choice of whether you are right or wrong lies with the government. So abide by the laws, register your company and be a responsible citizen.
The second being, to enjoy the protection it brings along. When your company is registered legally there are almost zero chances that any other entity or organization will cheat you or sue for something you haven’t done. Your services will be protected. You will feel secure since you know that you have done nothing wrong. You will not only be saved from government intervention but they will help you protect your entity directly or indirectly.
Third being, enjoying all the benefits provided by the government. Even though registration can be an overwhelming process, but once you have a registered entity, you can enjoy certain benefits (different for different forms of business) including tax exemptions and separate identity for your business. Any kind of business, whether small or even micro can be registered. Hence, any kind of business can enjoy their rightful benefits.
Fourth being, the respect which comes with it. Once you have a legalized business you will be recognized as an Entrepreneur. A businessman wants nothing more than respect in the market. And registering your company, making it legal will be the first step towards that respect.
Fifth being, getting a tag of legalized and hence reliable business. Once you are legalized, your customers will trust you more. There will be a noticeable hike in your sales. Raising funds and obtaining loans will also become easy. Investors and partners will trust you more.
At the end, you know that as a customer you will only buy certified and reliable products. With the increasing awareness, every customer is now more attentive towards what he buys. It can be as small as an expiry date (not so small, though) to as big as ISO certification or trademark.

Therefore, we can conclude by saying that thinking of a business may be easy but setting it up is quite tedious, to make it fruitful you need to register your business. No matter how long the process is, it will be beneficial for you only. You will have an easy recognition (as easy as it can be) and you will get customers. We, at LegalRaasta, can help you with your business registration and make the ‘tedious’ process quick and easy for you.

This article has been contributed by Simmi Setia, Content Writer at LegalRaasta, an online portal for GST Software, GST Return Filing, GST Registration, Section 8 Company Registration, Nidhi Company Registration, IEC Registration, Fssai License, File ITR Online.