What is the not-so-good thing about registering a business?
The only thing we can think of right now is that when you want to register, you have no idea which entity to register.
Today we’ll be talking more about the importance of registering your business.
So the main topic is to register or not to register? That is the question. We get this question a lot from our members or from online on our Instagram or even sometimes emailing us.
They are running a freelance business, right? Do they need to register their freelance business? Maybe you want to start first. AJ, what do you think?
I can be very honest with you. When I started freelancing, I didn’t see the need to register.
Back then when we are young and free and we don’t have many responsibilities, it really doesn’t matter. But then as we work longer in the freelance industry and then you meet like-minded people and then you find out that, hey, I don’t want to just stay stagnant throughout my freelance journey.
So I didn’t want to be seen as just like a low or just a normal freelancer. Then you realize that “hey, everyone has a registered business and it looks really nice!”
I mean, you’ll have a company name and website. When you want to make bank transactions everything feels legit. And then that was when you kind of have like a mindset shift that if you want to be viewed as a business, then you have to see yourself as one, not as back in the days when everything is rainbows and butterflies and you can do whatever you want. You can still see rainbows but just a different shade now, lol.
What about you Renee?
I come from a corporate job to freelancing, so it’s totally different area. If I got to compare it to you, yours is really from the beginning you’re already freelancing.
Mine is really a different shift where I was actually working for someone and then I work for myself or maybe I work in a business. So initially, yes, I also feel there’s no need for me to register because I’m like, okay, I should try first and see whether it can work. If it doesn’t work, then I will jump back to a corporate job because there’s stability there.
I mean, stability is always something that has always been at the back of my mind back then when I first started running a business. So registering was actually the lowest priority when I first started eight years ago. To be honest, I feel that at that point in time, for me, I think there was no point in me registering because I was just trying out. But registering your business definitely has a plus point, because you then take yourself and your business seriously.
Despite us having two different starting points, at the end of the day, we both feel the need and importance to register your business when you’ve decided to do freelancing seriously.
Have you registered your business yet?
If not, check out our Byteclass on the different business entities made available for you 🙂