Before registering a business, it is important to see if it will work out.
First of all, don’t worry about business registration. What is more important is whether the new start-up is a viable idea. If a physical shop is not needed to operate the business, test its viability first. See if it can be profitable. But what if they had registered the business first and for whatever reason gave it up soon after getting it off the ground? The effort and fees involved in registering the business would be wasted. If one wants to stop operating a business, it must be officially closed, which means deregistering the company at SSM.
Most often, the most suitable choice as a start is the sole proprietorship or partnership. These are generally known as enterprises. The registration is simple and the most cost-effective among all business entities.
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