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Bussiness Registration

Business registration is the process of formally establishing a business entity with the government in order to legally operate. The requirements vary depending on the business type but generally involve choosing a structure like sole proprietorship, partnership, or corporation. Next, the business finds a location, registers its name, and registers with the BRELA to obtain an identification and social security number. Finally, the business registers with local agencies and applies for necessary licenses and permits to begin serving customers.

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300 views11 pages

Bussiness Registration

Business registration is the process of formally establishing a business entity with the government in order to legally operate. The requirements vary depending on the business type but generally involve choosing a structure like sole proprietorship, partnership, or corporation. Next, the business finds a location, registers its name, and registers with the BRELA to obtain an identification and social security number. Finally, the business registers with local agencies and applies for necessary licenses and permits to begin serving customers.

Uploaded by

ason fred
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

BUSSINESS REGISTRATION

BUSINESS REGISTRATION
 Is a process of formally establishing a
business entity with the government in order
to legally operate.
 The specific requirements for a business can

vary depending on the type of business entity


being formed.
BUSINESS REGISTRATION CONT’S

 This enable a business owner to enjoy a range


of benefit such as
 Liability
 Suppliers
 Tax benefits
 Access to financing.
STEPS IN BUSINESS
REGISTRATION
1.CHOOSE BUSINESS STRUCTURE
 The first step is to choose kind of the
business suggested by the owner. There
different forms of business like;
 Sole proprietorship is a form of business

structure which is managed by a single


person.
 Partnership is form of business structure

which owned by two or more people.


BUSINESS STRUCTURE CONTINUES
 Corporation is a form of business structure
which allows the business owner to protect
the personal assets from the business
liability.
 Because its has limited liability means that

the liability of the corporation is managed by


the company its self.
2. FIND THE LOCATION
 Once after selecting the business structure
the owner needed to allocate where the
business must be found.
 Because as far the registration goes the

business address is needed for receiving


important documents from government.
3. REGISTER BUSINESS NAME
 Next comes is registering business name is
usually a part in order for it to be recognized
and to have its own name.
 And the name of the business must be found

different from the name of other company in


order for it to be registered.
4.REGISTER WITH THE BLERA
 Next comes is register the business with
BRELA in order to get identification number
and social security number for the business.
 This is important part because through this

the business is able to be surveyed in order


to see if its managed to be registered.
5. REGISTER WITH THE LOCAL
AGENCIES
 Once after all the process to be done the
business is needed to be registered with one
or more local agency in local government
such as revenue officers if the business plan
to payroll.
 In order to file the payroll taxes.
6. APPLY FOR THE LICENSES AND
PERMITS
 Lastly the business have right to have
licenses and permit in order to begin to serve
customers.
 Once the business is registered and gotten

the paperwork then focus on most fun part of


the job.

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