A commercial establishment is not a legal entity until it is properly registered. It is not unusual to get confused about the legalities of owning and operating a commercial establishment. The Department of Business Development created the Commercial Registration Act, which is not that simple to understand. In fact, the terminology can only be interpreted properly by a commercial attorney. This is why many people turn to commercial lawyers for assistance with the registration process. While this is always the best option, it is not the only one. 
 

Fortunately, there are experts who can simplify the registration process for commercial establishments to ensure you completely understand them. You can start by learning the benefits of registering your commercial establishment. Learn more by reading the content proved in the article below.

Why Register Your Commercial Establishment?

Starting a business is one of the biggest decisions you will ever make. It is crucial to take this decision very seriously because your investment is on the line. What most people do understand is the benefits of registering a commercial establishment. Whether it is a small brick-and-mortar business, work-from-home service, or medium-sized partnership, จดทะเบียนพาณิชย์ is important. 

Knowing the benefits of business registration will put you one step ahead in the process. Not understanding the purpose of business registration is one of the worst things you could do to any startup. 

Get Approval For A Business Bank Account

Do you understand the importance of a personalized bank account for a commercial establishment? The primary benefit of a commercial bank account is personal liability protection. What exactly is personal liability protection? It is a safety net to protect business owners from losing their personal assets in the event of a lawsuit. This protection ensures your personal funds are completely separated from your business funds. 

Some business owners are not keen on publicizing their personal information. With a business bank account, you can do securitize your personal information from the general public. The only information the public will see is your business name, address, and phone number.

If your commercial establishment is not registered with the Department of Business Development, you will struggle to obtain a business bank account. In fact, you may find it impossible to establish a commercial bank account. 

Get Approval For Commercial Business Loans

Lenders set money aside specifically for commercial establishments. Unfortunately, these lending options are not available to unregistered businesses. Business owners should understand the importance of having direct access to funding when needed. As long as your commercial establishment is registered with the government, the funding will be readily available to qualified applicants.  

If you ever hope to obtain a commercial or business credit card, your establishment must be registered. Credit card companies and other financial lenders refuse to approve business loans to unregistered establishments. What is the purpose of a business loan or credit card? The main purpose is a higher spending limit. 

If you do not have business registration paperwork, your loan application will be immediately denied. Do not take the risk of missing out on great loan rates for businesses. Get registered without further delay.

Get An Employer Identifying Number “EIN”

Registered commercial establishments operating within the US borders are required by law to have an Employer Identifying Number “EIN.” To obtain an EIN, registered businesses must complete the proper paperwork and submit it to the US Internal Revenue Service “IRS.” The process is fairly simple and quick. However, your business will not be approved for an EIN if it is not legally registered. 

In this case, business registration is an EIN requirement. Without a valid EIN, your business will not be permitted to legally hire part- and full-time workers. 

An EIN is also believed to offer registered commercial establishments identity theft protection. The EIN number will set your business apartment from others. In other words, it will help securitize your social security number and other personal identifying information.

Get More Customers

Having a business registration is crucial for establishing a customer base. Consumers are becoming more adamant about only shopping at registered businesses. It is not unusual for consumers to perform a business search before doing business with a new company. If there is no registration on file, the likelihood of you scoring a sale will be minimal.