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Why do we need business incorporation

#business #incorporation

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#1 Flora Rob

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Posted 21 January 2021 - 12:22 AM

Hi there,
I'm running a business of electrical items for two years and has renovated recently. I had recently heard about the need for the incorporation of a business. Why is the incorporation of a business so important? I would also like to know how it should be done and how much time it requires to complete the incorporation process. Is there anyone on this board who has any knowledge regarding the business incorporation? I'm eagerly waiting for your responses.

#2 Mind

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Posted 21 January 2021 - 04:52 PM

In most countries of the world, incorporation provides a legal liability shield. If something goes wrong, the corporation pays the fines or faces sanctions, not the owners/founder.

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