Until recently, people who took the initiative to create their own company decided not to incorporate it legally.
This was because the registration process was very complicated, and they believe that it would be much more costly to set up their company, due to the expenses involved in the process and the legal requirements they had to meet.
But times have changed, and incorporating a company legally is now much simpler and cheaper.
Moreover, since the creation of the S.A.S. or Simplified Joint Stock Company, the number of legally constituted companies has increased.
This is because the process has been simplified (also reducing its costs) and, even so, new companies can enjoy the benefits of being legally incorporated.
And even with all the facilities, there are still entrepreneurs who do not legally incorporate their companies, since they are exempted from complying with legal requirements.
Contrary to this ideology, it is much more beneficial and economical in the medium or long term to legally incorporate a company than not to do so.
And it is that legally incorporating your company offers you:
- Increased visibility to your target audience.
- Access to financing to improve your business.
- Show yourself as someone responsible, which increases your credibility.
- Increase your sales, as people will trust you more.
- It will facilitate the growth of your company.
- Offer better security benefits to your employees.
- To be able to contract with larger companies.
However, it is still understood that there are people, or rather businesses, that do not want or need to formalize legally.
In Colombia it is not a crime to sell without being formalized, there are businesses that are not projected to become large companies in the future,
These businesses are generally businesses that are closed to a limited social circle, such as the neighborhood, friends, family and acquaintances.
It is also important to educate the entrepreneur and explain the benefits offered, providing the necessary knowledge to make the decision.
In addition, many companies are at people’s service to assist them in the process, such as banks, law firms and even the chamber of commerce.
If, as an entrepreneur, your goal is to grow and expand your business, formalizing your company legally will bring you many benefits.
You should take it as an investment in the future that will guarantee you to achieve your goal and be the owner of your own business.
If you need help to formalize your company, in Servicio Legal we can help you, our lawyers will accompany you at all times in the creation of your company under the modality of S.A.S., indicating the different documents you need and being your representative before the entities.