10 Things to Know Before Deciding to Start Your Own Company

Owning your own company isn't just about pride,

but also about legal, financial, and tax responsibilities.

Before making a decision, check these 10 points:

1️⃣ Choose the right business structure.

For example, limited company, partnership, etc. Each has its own advantages and limitations.

2️⃣ Appropriate registered capital is crucial.

It doesn't need to be extremely high, but it should be commensurate with the size of your business.

3️⃣ Understand your legal obligations.

You must file financial statements and taxes according to the regulations of the Department of Business Development.

4️⃣ Taxes are very important.

You must file taxes correctly with the Revenue Department, such as Form P.N.D. and Form P.P.30.

5️⃣ You must have a proper accounting system.