Company business structures have many benefits that other business structures don't. Read this article to find out 5 benefits of registering your company.
Introduction: If you are starting a new venture or looking to grow your business, you may be considering starting a company. Although registering a company can seem like a big step, there are also many benefits in trading under a company structure. In this article, we’ll outline the 5 benefits of registering your company and how this can see your business soar.
By contrast, a company is a separate legal entity and it is an easy way to protect your personal assets from your business actions. Debts which attach to the company will not attach to you, which means that you can focus on building your business.
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| 5 Benefits of Registering Your Company In Zimbabwe |
3. You can avoid conflict with your founders: Registering a company helps immensely if a conflict arises with your cofounder. When you register your company, the control which owners have is subject to the number of shares they own. The owners will have a clear understanding that their investment in the company is not by any pre-registration verbal or written promises. If a dispute arises, share allocation will also determine who has the most decision-making power.
Similarly, companies can allow you to separate the ownership and management of the business. For example, you may have several shareholders, but appoint managers who do not own the company. This allows the business to be run by expert professionals, who are focused on generating profits for the shareholders.
4. Legitimacy and brand awareness: Think of the biggest brands in the world today – Google, Nike, Facebook. All of these are registered companies. For a business to be as successful and expansive as it can be, having a company structure is necessary.
Registering your company enhances the reputation and perception of your business. A company is its own entity, which operates separately from you.
Becoming a registered company is also important for any future dealings with third parties, as many businesses will only hire or engage with registered companies. This means that your business contracts will have your company’s name on it, rather than your own.
5. You can raise significant capital: As a company, your ability to attract investors and raise money for your business will be easier. Registering your company gives you the ability to borrow and incur debt but more importantly, sell shares and raise equity capital. If you had any other business structure, then you would need to pay taxes on your personal income tax statement even if that money is staying in the business.
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| 5 Benefits of Registering Your Company In Zimbabwe |
Conclusion
Registering a company can be one of the best ways you can expand your business and help ensure its success. Not only will you be free of liability, but lower tax rates will mean that you can focus on turning your business into the lucrative venture you want it to be. If you are unsure which business structure is right for you, Tradejerk Services can help you determine which option is right for you.
Don’t know where to start?
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| 5 Benefits of Registering Your Company In Zimbabwe |
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