A business permit is one form of a permit granted by the government to parties to run their business officially. A permit stating the legality of the business is very important to be owned by everyone who will establish a business. The business license shows that the business is not fictitious. To simplify the process, you might be able to contact a reputed company incorporation singapore and ask for their help so as not to find difficulties when asking for a business permit.
By having a business license, the company or other agency will believe that the company you own is legitimate. Having a business license will certainly have a very good impact on business owners. This is the importance of having a business license including:
1. Prove that your business is not against the law
Employer compliance is the smallest form of action that can be taken against the country. By having this element of legality, the sign is that the entrepreneur has complied with the applicable legal rules. By complying with applicable law, it has indirectly contributed to upholding a culture of self-discipline.
By having legality, your business will be legally registered by the government so that you can avoid control measures and you will feel safe and comfortable in running your business.
2. As a Means of Promotion and Increase Business Credibility
By taking care of legal documents concerning business activities, the entrepreneur has indirectly conducted a series of promotions. This is one of the important benefits of business legality because promotional activities are one of the most important things to boost sales results and for the introduction of newly opened businesses. In addition to promotions, business licenses are also important to show credibility.
When the credibility of your business is also trusted, then the public will not hesitate to choose your product or service.
3. As a Requirement for Supporting Business Development
To be able to increase the business that is owned, then, of course, it will require additional capital by applying for capital to the bank. Generally, having a business license is one of the requirements for applying for a business capital loan at a bank. If you already have a permit, then the capital proposal will run smoothly.
4. Can Make It Easier to Get a Project
There are several types of businesses such as business in the field of production or housing developers that can not be separated from the process of winning a tender for a project, both from private companies and the government. A tender generally requires that interested persons must have legal documents.