Incorporation is never at the forefront of anyone’s mind when starting a small business. Why should it? It is not as alluring as new product design or marketing strategies, both of which hold the promise stacks of cash in the bank. But, I would like to propose, incorporation has to be a priority in any entrepreneur’s agenda. I believe that it speaks of your commitment to the project that you are willing to put in the time and money to ensure the future of your company. And having at least four other members on the board helps ease the pressure of having to take on the daunting task of running a business, which can be a lonely undertaking at times. Finally, incorporating also allows you to protect your private property from things that may befall your business.
To summarize, the benefits of incorporation are:
1. It shows that you are committed.
2. You are not lonely.
3. Your stuff is protected.
So if you have a small business in the Philippines and are not incorporated, what are you waiting for? Shoot over to the Securities and Exchange Commission website and read up on what you need to do to incorporate!
All this to say that Liberty Street is finally a registered corporation! Liberty Street Clothing and Merchandising, Incorporated is now ready to be set loose on this world and affect it for the better!