Register your business for the benefit of all

Headline: Register your business for the benefit of all
Publication: NST
Date of publication: Jun 4, 2011
Section heading: Main Section
Page number: 029

THE "journey" of every business should start at the Companies Commission of Malaysia (SSM).

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said after a business was properly registered at the commission, other requirements like applying for premises permits and other licences could proceed.

There had been cases, he said, where people carried out business although it was not registered with SSM. Among the culprits were traders and hawkers, especially those trading at night markets, who claimed that there was no need to register their businesses as they had already obtained trading permits from the local authorities.

"This matter should be viewed seriously as under the Business Registration Act 1956 and Companies Act 1965, anyone wanting to conduct a business is required to register it first with SSM.

"In fact, those applying for business loans from financial institutions need to furnish the banks with the certificate of registration for business or company issued by SSM."

Ismail said the rules were not intended to inconvenience the public but more to protect them.

For example, when a registered owner or partner of a business entity dies, his kin, administrator or any individual holding the rights over his assets can make a claim as the official records are with the Registrar of Business.

If the business is not registered, a host of problems will surface when it comes to claiming of inheritance, with obtaining a High Court order the only remedy.

At the same time, a registered business provides greater protection to consumers in terms of goods and services.

"In the event of fraud and exploitation, consumers can seek redress from the authorities and SSM," said Ismail.

He said SSM had introduced a mobile counter service which allowed business registrations or renewals to be done on the spot.

The minister expressed hope that more from the Felda community in Bera would become entrepreneurs and make use of the services provided by SSM.

"To date, there are 96,345 businesses and 15,016 companies in Pahang."

Ismail Sabri said he wanted to see an increase in the number of entrepreneurs and businesses in the Bera district.

"Not only that. If possible, I would like to see entrepreneurs expanding not only their businesses but venturing into other sectors as well."