Registrations and record keeping is an integral part of running a business effectively. Not only are you obligated to remain compliant to avoid deregistration, fines, penalties, criminal prosecution and reputational repercussions, but many of the records you keep, can be beneficial in allowing you to track the progress of your business. Knowledge is power, so you need to attend to the matters of accounting, human resources, tax, general business administration etc. and ensure that it all matches up with the type of legal entity you are using to operate your business.
