01/09/2022
Why you should Register Your Business??
Most of the time as consultants we advertise our company registration services to our Potential clients,but only a few have explained or tried to explain why you should register your business.Over the next few days,i will try to explain to you why you should ensure your business is properly registered.
Firstly,they are Two types of Company Registrations:
1.Private Limited Company (PLC)
This is the most common company in Zimbabwe usually suited for medium-large businesses.A PLC requires to have at least Two(2) directors of which one (1) of them should be resident in Zimbabwe but it can have as many as up to fifty (50) Directors.
2.Private Business Corporation (PBC)
The PBC conceipt came about to encourage small-medium businesses usually sole traders to formalise their businesses and enjoy the benefits that other registered businesses enjoy.Membership in a PBC can be between one (1) up to a maximum of twenty(20) natural persons who come together to register their business.
The benefits of registering a PLC or a PBC are just the same.
1.Register to secure & protect your business Name
Just imagine you wake up one day and start trading as a sole trader using a name that you have randomly thought and you are well known by your customers by that name and your suppliers and competitors also know you well by that name,you have built a reputation on that name and ten years later you decide to register your company by that name.A search is done at the Registrar of Companies to assertain availabilty of that name and it is found that the name belongs to another business that properly registered it,what will you do??
When you register your company,your unique name is protected by the law and anyone else is prevented from registering their businesses by that name or by a name that nearly resembles your business name so as to avoid other people from causing confusion to your customers or from enjoying the goodwill of your company and its company name.