Business Registration: The Smart Choice for Every Aspiring

Entrepreneur

For the last couple of months, you’ve been happily selling your handmade crafts to your friends and family. You’ve gone back and forth on whether or not you should turn your hobby into an actual business. You’re family believes that with your skills, you’d be able to turn your talent into a successful business.

With their encouragement, you make the decision to take your hobby and turn it into a business, and according to Jason Nazar, a contributor at Forbes, you’re not alone: nearly 543,000 new businesses are started every month.

After mapping out your business plan and deciding what the best course of action is for you to embark on your journey to owning a business, you need to decide how you will run your business. With the average time frame to start a business coming in at six days, according to Business Insiders, you’ll have to decide if you will be registering your business with your state and the federal government.

When you begin making a profit with your business, it is essential that you keep your business activities separate from those in your personal life. The best way to do this is to open up a bank account that is associated with your business. Banks, in order to provide you with a business bank account, need to see proof of your business registration.