–> Registering the company or business with the local or state government is a crucial part in operating the business. Unless and until a business is registered with the government, they cannot create a business bank account for their business which is necessary for any business because it differentiates the personal and business assets.
–> While applying a loan, the investors or the lenders want a proof that the business owner is operating a legal business, so showing the business registration certificate will help in acquiring the loan without any haste. Even while applying for the business credit card, producing the registration certificate will complete the process in no time.
–> New clients and customers who plan to do business with a particular company require an assurance that the company that they are dealing with is a legitimate one. If the name of the business or company is on the government records, it gives an impression that the business is a legal one and that they can invest or spend money on the business. The suppliers offer discounts for the business that has a proper registration. In general, the suppliers fix a wholesale rate for the company owners who produce proper documentation and registration papers.
–> The basic criteria or requirement for a business to obtain a government contract is to have a proper registration. And hiring the employees on a full time basis and giving them a salary according to the government law is possible only with a help of legal registration. When a company is registered, they receive an identification number from the state that enables the employer to route the taxes on behalf of their employees.
–> Since the amount of unemployment rate is higher in the country, many consultancies and companies are trying to utilize this fact and are faking the young job seekers and are earning more money. These companies send emails to all the candidates by collecting the details from the job portals and are earning money in the name of the registration process.
–> So, all the candidates who are planning to attend an interview or the investors or customers who are planning to do business with a particular company must first identify whether it is a legitimate company or not.