Small Business Registration

Small Business Registration

There are reasons as to why small business registration is needed. Registration is the creation of a proof that is certified by government authorities to allow your business to have access to bank accounts, transfers and loans. In order to establish credibility, your business has to be recognized as a legal entity, legitimized and recognized by the proper authorities and duly capacitated to facilitate transactions.

The process is basically two pronged when it comes to SB registration. First is by starting with a name request which you will submit. This name will be subject for approval to verify if the name has already been taken or is significantly similar to an already existing establishment. If all names were simply allowed then the public would be greatly mislead by the various markets with the same names but selling dissimilar products. To avoid confusion, multiple names are discouraged and in other places not allowed at all.

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The second step is to register the business already. Upon approval of your suggested name, you can then proceed to actually registering your business under the final name. From the day of approval of your business name, you are generally given a deadline to register it in completion. Specifically, you are allowed 56 calendar days to finish the task of completing your SB registration.

There are different methods and applications to fill up depending on the type of business you have. It may be a sole proprietorship or maybe a partnership or perhaps a corporation. Whatever the nature may be, there are specific details you must take into consideration when applying for registry. The requirements are not the same across the board that is why it is important to inform yourself of all the options before going in and wasting your time and other people’s as well.

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