Starting a business is more than just realizing your vision or fulfilling your lifelong dream. Aside from product innovation and marketing, a business needs to be registered in order to be as successful as it can be. Regardless of whether you’re aiming to start a LLC or a sole proprietor venture, here are the reasons why you should make business registration as your first step:
TO AVOID LEGAL ISSUES
An unregistered business can cost you more in penalties than from actually building it. Having your business registered allows you to enjoy the freedom of promoting your brand and increase your profits without having to worry about getting sued or closed down.
TO MAXIMIZE YOUR PRESENCE IN THE MARKET
A registered business has all the right to enter into contracts, make advertisements, and endorse its brand to the public. Clients with a registered business can also enjoy the benefits of the law against attempts by its competitors to question its reputation.
TO BUILD LASTING CONNECTIONS
Along with building your business comes the process of building your network. Be it a list of loyal clientele, a network of competent partners, or a reputable name in the industry, getting your business registered will allow you to make your brand a trustworthy one, which would then lead to unlimited possibilities to gear you up for success.
Prior to registering your business in the state of Georgia, you will need to prepare a list of things. Some of these include, but are not limited to, the following:
- Legal name
- Mailing and email address
- Employer Identification Number/Federal Identification Number (EIN/FEIN)
- Business type (corporation, estate, fiduciary, LLC, partnership, sole proprietor, etc.)
- North American Industry Classification System (NAICS) code
- Name, address, and social security number (SSN) of all managing owners, partners, or officers
Engaging the services of an attorney ensures that your business registration process will go smooth, not only in filling out the necessary paperwork but also in drafting your Articles of Incorporation, company policies, partnership and employment contracts, among others. Getting legal services will also be beneficial in strategizing your next moves, especially when you are looking at expanding your business in the future. Attorney Dorna’s years of experience in helping startups will allow you to stress out on paperwork and focus more on growing your enterprise.
Source: Georgia Department of Revenue