All businesses must be registered with the government in order to make it legal. Illegal business ventures do not have annual business tax and its employees will most likely encounter problems with health benefits or social insurance because their illegal employer cannot enter transactions with the government. It is therefore compulsory to make business owners register their businesses, either through manual registration (getting an application form, filling it, then mailing the form to the business registration office address) or through online application (which makes people fill up forms online and send it via e-mail). Of the two, online transactions are processed faster. The reply for online application is also released in less time compared to having it mailed conventionally. That said, more people do register a business online.
There are obvious benefits of having a business registered. First is that business people do not have to deal with being in conflict with the law. Businesses are complicated enough for criminal liabilities to add up to the load.
Also, if business people register a business, they will know if another business entity uses the same name as theirs. This is important because having a similarly named business entity might confuse prospective clients when they come in contact with the other business with the same name. When a business person registers his business name, no other business will be able to use the same name while the original business is currently operational in the market. That way, businesses can be assured that they have the right to exclusivity of the business name.
And if a business is registered, that business will be issued a social insurance number which can be used by employees when filling out government documents when availing of health benefits and employee assistance services. If a business is registered, it will be under the regulatory powers of the government and the business will be subjected to workplace safety assessment and health and sanitation evaluation.
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