Registering Your Company & Why It Makes Perfect Business Sense To Do It In 2024.

If you are currently in business here in Australia or it is your intention to start a new enterprise then you want to make sure that you protect what you have worked hard for or are going to work hard for over the coming years. Many people do not take the time to register their businesses because of the unknown and they think that they will have to pay additional taxes if they do so. The opposite is in fact true and if you are currently trading as a sole trader or as part of a partnership then you will be paying more taxes than you would if you registered your business properly.

There are many tax benefits to be enjoyed and it helps to reduce your overall liability and so it seems a little silly that you are avoiding an easy company registration that can be done for you by a third-party provider. They have done this thing many times before for businesses all across Australia that then went on to great success. If this is all quite new to you and you would like to know why it is that you should register your company this year then maybe the following can help to illuminate you.

1. Your clients get peace of mind – Peace of mind is all anyone wants in their daily lives and especially so in their business operations. If you are just beginning a new business in your local community then it’s normal for suppliers to be somewhat reluctant to do business with someone that they have no experience with. They will be even more reluctant to offer you a line of credit but if you take the time to register your company then this will give them the peace of mind and reassurance that they need.

1. You are protecting your business – By registering your business, you are protecting what’s yours and especially your business name and brand. Imagine working for many years building up a successful business only for someone to swoop in and steal your name and brand that you have worked hard for right from under your nose. This can happen if you do not register your business enterprise and so by doing so you are ensuring that you keep your name.
2. You get essential protection – This relates to your liability and the liability of your business. If you don’t register your enterprise then this means it you will be either a sole trader or part of a partnership and it means that the liability stops with you. Should your business get into any financial difficulties then the courts will instruct that your personal assets will be sold including your house and your car. Getting your business properly registered limits the liability to it only.

Hopefully, these three reasons can encourage you to get your company registered as soon as possible here in Australia. Let your service provider do all of the hard work for you.