The Registrar-General’s Department has urged entrepreneurs to register their businesses in order not to risk being put before court.
According to the department, although a large number of young businesses have been registered, there are still others which remain undocumented.
Assistant Registrar-General Sarah Nokor Anku, speaking to Class Business, said it was required by law that every setup is registered to aid in tax purposes.
“I will advise anybody who wants to start a business to register their business because the law requires you to register your business before you operate. So be it young entrepreneurs or any other person, I expect the person or group of persons to come and register their businesses. You need that registration even for tax purposes and that is what the law says. It is crucial, without that you would be breaking the law,” she stated.
“You cannot start or operate a business without registering. The only time you can operate a business without registration is when you operate the business in your name and in only your name. So everybody doing business in any name apart from their name must register.”
Source: ClassFM
