Ask The Charlotte Home Inspector

Your Charlotte Home Inspection Questions Answered!

Ask The Charlotte Home Inspector header image 2

Business Registration – The Need for Business Registration

March 4th, 2012 · No Comments

There is a big difference between a hobby and a start-up company. When you have a hobby, it is something that you do because you have some extra time and it is something you love to do. For example, if you like to restore old cars then you may have a few older models in your garage that you are working on at the same time. You get to them when you can and do not really answer to anyone. If that car restoration hobby turned into a business, then you would suddenly be investing your time and money into meeting clients’ deadlines so that you can get paid and keep going. The other big difference between a business and a hobby is business registration.

When you take the step of business registration, you are committing to creating an organization that is profitable and growing. You have to set aside the notion that you do not have a schedule and start fitting work around the schedules of your clients. You are putting your financial resources into making the business successful and then you are relying on a financial payoff to help you pay your own bills and support your family. Creating your own business is a huge responsibility. But if you want to legally turn that hobby into a full-time profession, then you will need to turn it into a company and start filing the paperwork.

Another thing that business registration does is make your company formation look more professional. If customers have a choice between someone who does something as a part-time hobby and someone who does a job as a full-time profession, then they will usually take the full-time professional. Your company becomes your identity and your means of generating an income. You can have business cards printed up and you can start to join local professional organizations that will help you to build a customer base. When you register your business, you are letting the world know that you take what you do seriously.

A business registration also allows you to take on a business bank account and add another element of professionalism to your company image. When you can accept and write checks in your company name, then your clients are able to take your business seriously. The act of having a bank account takes your company from the realm of hobby and moves it into being a professional organization.

 

 

Be Sociable, Share!
Share

Tags: Unusual Findings

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

Leave a Comment