“Do I really need to register my business?”
That is the question of every new business owner here in the Philippines. Some business owners forgo this step because they find the registration of business here in the Philippines to be time-consuming. Meanwhile, some are just waiting for their profits to become stable before registering. Ironically, it is hard to grow a business if you’re operating illegally.
On the other hand, registering your business in DTI has many advantages.
What are the advantages of registering your business in DTI?
Avoid legal problems
A business running illegally is always equal to a business hiding behind the law. And if your business is hiding behind the law, you can get caught anytime and the effect on your business would be either you pay thousands or millions for your hefty fees, or worse, you could close down your business.
We know business registration is time-consuming, but so is closing it down and paying hefty fees so make your decision wisely.
There’s nothing better than having the reputation of being a legal running business. A legal running business meant a business that people can trust on. If you’re not planning on registering your business, you can lose your reputation as an entrepreneur aside from the fees and penalties that you will pay if you get caught.
Owning a registered business saves customers from seemingly avoidable legal hassles. If they found out that your business is unregistered, they can give your brand a bad name and it can solicit negative feedback for your products as well.
Earn your network’s trust
Something that assures customers and employees is when a business is transparent to the public. There’s nothing more reassuring to the public when they feel safe about who they’re dealing with and the business they are working for.
Liberty to full market
Great marketing skills and strategy is the key to promoting one’s business. You can make testimonials to convince potential customers that your business is genuine and it won’t be that hard because they can trust you with their money and their word.
But it is not the same with unregistered businesses. Sure, there are many unregistered businesses out there that may not be doing illegal acts but without their registrations, they cannot freely do sales and marketing. And aside from that, they will be afraid to put themselves out there and talk to suppliers and customers
Another thing to consider is that they cannot offer services like warranties, returns, and exchanges. And customers certainly appreciate these types of services.
Transact with big corporations
Big corporations are open to transactions with other small businesses. But if your business is still not registered yet, then there’s no opportunity that you can do business transactions with your target large companies. Again, this is because there’s no built trust in your business and large companies won’t invest money in something that they find unreliable. And if that happens, that only meant they are not confident in your services.
So are you now willing to register your business? If you are, then we at Yap, Kung, Ching & Associates Law Office can help you. We are offering business registration services for local and foreign-owned companies looking to set-up their operations in Metro Manila, Philippines.
With well-respected and experienced lawyers on our team, we are positive that we can provide you with professional business registration assistance in DTI.
To learn more on how we can further assist you in business registration, contact us by calling +632 8251-3404 / +632 8716-3392 / +63 906 415 1218. You may also send a message below. We are looking forward to hearing from you.