Every business is expected to be objective in its operations and should be treated as a legal entity. Think about it! Would you want to invest in a business that is not registered? That brings me to the first benefit
REGISTERED BUSINESS ATTRACT INVESTORS
Investors are more convince to sponsor or invest in your business ideas or concept when you approach them with the right attitude and a sense of focus, especially when you are registered. Your registered business makes a prospective investor know that you’re serious with your drive for success. In fact how can you say you have a passion and a vision to succeed and you do not put some action on it. The first action you put on that exciting ideas of yours is to register it.
I have been in situation where I intend to do something but before I stepped out to do it, I sent time pondering and running around for sponsors only to found later that someone else with a registered business was already doing that which I intend to do.
Investors, corporate organisation and the government do not sponsor or invest in unregistered businesses, ideas or concept.
How can you tell me or anyone else that you are a serious entrepreneur running to achieve success with a mind blowing idea that would solve the problem of the world and in the process make you financially independent and that instrument that ought to bring you this level of success is unregistered?
Prospective investors would see you as a serious entrepreneurs when you have incorporated your business, and it automatically differentiate you from ideas talker, I mean those people who are fund of talking sweet exciting ideas.
SENSE OF VALUE
Some few years ago, I was in a business meeting and all the upwardly mobile entrepreneurs present were having a networking session and immediately after the session there was an exchange of complimentary cards and everyone pride themselves in their business and the value they creat by virtue of the ideas, concept and paradigms that they are using to succeed in the line of duty.
Pleas imagine with me, if my business was not registered , I probably would be suffering in silent from one for of inferiority complex. Seriously speaking ,it feel good to be introduced as the chief executive officer of NEW BREED EDUTAINMENT, because it gives me a sense of value that my life and my business is making impact and meaning in peoples live.
As a business development consultant, I have a friend who I met in the line of duty who told me of his experience about how he lost an opportunity just because his business was not registered. He had a business ideas accompanied with the skills to perform it and immediately rushed out to do an advert on a newsletter, to God be the glory, a company contacted him to come and use his skills for l
Floor finishing and tiles for one of their project and the estimate was about 3.7million naira, and they requested for him to send his company account so that they can mobilise him for the job but unfortunately, this friends business was not registered and he lost the opportunity because the company as a matter of due process was not willing to do transactions with his personal account. That was how he lost his opportunity.
Any man with ability never lacks opportunity for expression of his gift, skills and talent especially when he is strategically positioned alongside with a good network. But what would happen if an opportunity comes and you are not prepared to take advantage of it. Registration of your business is an inevitable preparation for the next level.
OPEN A BANK ACCOUNT
Since it is clear that no company, business or investor would want to pay money into your personal account, it becomes necessary that you have a business/company account which differentiates your personal income from business income. As an entrepreneur, this shows seriousness, because your business is a legal entity. However, when you register your business/idea/concept, you can use the registered name for opening a current account in any Bank of your choice.
BID FOR CONTRACT
You must have heard that folks like you are bidding for government or corporate organisation contract as a major steam for income to their business. But it is interesting to note at this point that you cannot bid for a contract or respond to a tender with your father’s name, or with your personal account. You can only do such with a registered business /company name.
Most companies outsource some of their marketing needs, challenges and issues that would serve as aid for the attainment of the set goals and objectives of their company from time to time. And in such process they either sponsor organisation programmes and projects with marketing prospects for their marketing need or go into a quarterly or monthly partnership that would also ensure that they meet up with the designated objectives of their companies. And if your business/ideas /concept is adequately positioned and registered for such and such an opportunity, it would only be comely for your business to be selected since you are perceived as a serious and upwardly mobile entrepreneur