10 Legal Mistakes Small Business Owners Make in Pakistan
10 Legal Mistakes Small Business Owners Make in Pakistan 10 Legal Mistakes Small Business Owners Make in Pakistan Running a small business in Pakistan is exciting, but many entrepreneurs unknowingly make legal mistakes that can cost them time, money, and even their business. Here are 10 common legal mistakes you should avoid to keep your business safe and compliant. 1. Not Registering the Business Properly Many small business owners operate without formal registration. This limits legal protections and credibility. Choose the right registration type—sole proprietorship, partnership, or private limited company—and register with the relevant authorities such as SECP or FBR. 2. Ignoring Tax Compliance Failing to register for NTN, file tax returns, or keep records can result in heavy penalties. Always ensure compliance with the Federal Board of Revenue (FBR) and provincial tax laws. 3. No Written Contracts Verbal agreements are risky. Written contract...