The Risks of Not Renewing your Business Permit

Ever had that feeling where you have so much to do that you don’t know where to start? You know exactly what you need to do but for some reason you still don’t do it. Then a day before the deadline you force yourself to get started but at that point, it will be really stressful.

Business owners sometimes tend to procrastinate, especially when the deadline is still months away. The problem with doing things at the last minute is it leaves you with no time for correction. It leaves you with penalties and a bad headache.

Each quarter, business owners need to comply with the legal requirement of renewing business permit with their respective local government units to be able to continue operating. Each city has different requirements. For example, Makati City requires a one year business permit while Taguig City is by default on a quarterly basis for new businesses. Each city has their own rate for penalty but one thing is certain, when a business owner fails to renew and comply with permits, you will be fined.

The usual penalty would be to subject the non-complying business to surcharge and interest per month—and that can quickly rack up. Another one is, if the owner and/or operators of business fail to renew or didn’t really register his/her business he/she shall be subjected to a fine of P5,000 to P20,000, or worse, for closure.

The process of renewing business permits can be tedious and may take more than a day due to the high number of applicants. Thankfully, business owners can now rely on professionals who would take the burden of going through all the procedures. StartNow is a business solutions provider that can help entrepreneurs on this matter. StartNow simplifies entrepreneurs’ life by offering services such as business incorporation, business permit renewal, and other legal services.

If you want fast processing of renewing your business permits, StartNow can take all the loads of preparing all the documents, filling out forms, and standing in long lines for you.

Renew your business permits as easy as dialling the hotline. Call StartNow at +63 2 2244330 or email at ask@­companyincorporation.com.ph and consult now.






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