SEDIEGO, PEARL JEAN BSBA 1C

MODULE 6

EGE2

Exercise

1. Business Ownership
2. Department of Trade and Industry
3. SEC – Securities and Exchange Commission
4. CDA – Cooperative Development Authority

How to Register a Business

1. Choose business structure. The first step is to decide on a business structure. ...
2. Find a location. ...
3. Register your business name. ...
4. Register with the IRS. ...
5. Register with state and local agencies. ...
6. Apply for licenses and permits.

Essay
1. As an entrepreneur, it is important to register your business to various government
offices for your own benefit and protection?

There’s a universal rule why people set up a new entity whenever they wish to run a
business. It’s called a separate legal personality. In other words, when you sign a contract
using a company, you’re protected by this legal protective shield. So if something goes
wrong, the counterparty won’t be able to go against your assets like cash in your personal
bank account, house and so on.

In one liner, to protect your personal financial liabilities if your business should fail, to portray a
better image of your company to your customers, and to gain better trust from your bankers,
financiers and creditors when they review your registered company net worth.

Many creditors and financiers shy away from providing much financing to your business if you are a
sole-proprietor or if your business has not be officially registered.