Ashanti-ORC sensitizes public on relevance and compliance on business registration

Ashanti Regional Bureau of the Office of the Registrar of Companies (ORC) embarked on a float last Thursday in the streets of Kumasi. This was part of its effort to sensitise the public on the "relevance and compliance" of Company/Business registration. The float, themed "Building Awareness, Driving Change", started from the ORC Forecourt, went through Bekwai Roundabout, Bantama streets to Abrepo Junction, Kejetia and Adum to Prempeh II Street, and ended at the ORC Forecourt.

Mrs. Yvonne Adjimah-Adjare, Principal State Attorney and Kumasi Zonal Head, ORC, disclosed that her outfit embarked on the float as part of a sensitisation programme to educate the public about ORC and their "mandate and purpose". She explained that registering a business helps in bidding and securing government contracts, helps in opening a Bank account, helps businesses to grow, and helps the government to know the number of businesses in the country. She also indicated that there are two processes - the premium service (which attracts extra fees and a business certificate is received on the same day) and the normal service (which takes about five to ten business days to receive the certificate).

Mrs. Yvonne Adjimah-Adjare explained that every business entity can register, and that after two weeks of setting up a business, one is required to register it with the ORC. Failure to register a business, or renew its registration annually, can lead to severe penalties, including hefty fines and the potential to be struck off the register, according to the Companies Act, 2019 (Act 992) and the Registration of Business Names Act, 1962 (Act 151). She urged business owners to register their businesses to avoid penalties.