If you are planning a startup then you should register it. We recommend you to use this service to register your company. Registration of business is very important, it will give you many benefits, and it will protect your business and secure your rights against the third party and in the case of failure of registration you may have to face legal consequences. Registration of business is a primary thing for any business during incorporation. Business Registration in India is not that difficult because there are types of form of business available you can register your business under Company law, LLP laws, or Partnership Laws. This article talks about the importance of business registration.
Remember it’s just as easy to register and open a business, however, you also need to be careful about insolvencies and bankruptcies. If the business is not doing well and it is unable to pay its debts then it can be declared insolvent or bankrupt. This will have a very bad effect on the company and all the shareholders will lose their investment. So, it is important to take the help of an insolvency practitioner to save your company from such situations.
Accountants that specialize in insolvency are called turnaround accountants or corporate recovery accountants. They have expertise in negotiating with creditors and they also help to put together a plan so the organization can continue to operate. They are also specialized in tax and can help to minimize the tax liability of the organization. CFS have more information and it can be found at https://www.cfsinsolvencypractitioners.co.uk/professional-support-services/.
Registration of business will give you protection under the laws. For e.g., if you register your business under company laws or under LLP laws, then it will protect your business and you also. As you know that company and LLP are the separate legal entity so there is limited liability upon you and after registration, your company or LLP can sue or can be sue as it is the separate legal entity. In the case of failure of registration, you may have to face some legal consequences.
If you are planning a startup then you should register your business as you can see above that it is very important to register your business. Business registration in India is simple if you want to incorporate your business as a company or an LLP then you can apply your incorporation form to the Ministry of Corporate Affairs. Nowadays process is simple as the whole process of incorporation is governed online. So if you are planning a startup then you should register your business as it is very important, in the case of failure of registration you may have to face legal consequences.
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