Renewing a business license is just as important as obtaining one in the first place. Renewal periods are based on each specific permit, ranging from everyone to 3 years generally. The date of renewal is either a fixed annual date or predicated on the date of issuance of the original license.
Many condition departments do not distribute reminder notices about upcoming expiration of the license. A license holder must be diligent about renewing the license properly, or they will face serious fines. Each state takes different measures against a small business or individual operating with an expired license. Fines are evaluated for the violation often. Some continuing claims will post a summary of businesses operating with an expired license for open public view.
Other companies require expired permit holders to stop business until they replicate the initial permit process. Each condition takes different steps against a business or specific operating with an expired license. Fines tend to be assessed for the violation. Some state governments will post a list of businesses operating with an expired permit for open public view. Other firms require expired license holders to cease business until they repeat the initial permit process1. The press will publicize unlicensed businesses to raise public understanding often.
A local TV train station in Georgia uncovered a slew of funeral homes with expired licenses. A local citizen, interviewed about the matter, mentioned that he’d not trust a local business with an expired license. Besides bad press, funeral homes in Georgia operating with an expired license face a voluntary desist and stop order, a obligatory hearing before the board, and multiple fees and fines.
High fines, negative publicity, and business closure or interruption are all risks of keeping an expired license. Ignorance is not an excuse. Ensure that every renewal is promptly and your licenses are taken care of by using LicenseLogix compliance services. Many illustrations exist of condition agencies going to great measures to find unlicensed businesses. These illegal businesses threaten claims by underbidding industry specialists, evading taxes, and avoiding compliance with industry regulations. It is only a matter of time before an unlicensed business is caught. LicenseLogix will help get your business properly licensed and keep you in compliance.
In particular, I believe that Arthur has spent enough time with the lender to know how to run it, and he has a great deal of seniors to help him run it better, people like Placido Mapa Jr. and Tony Abacan. I just told him to hear whatever advise these folks may offer him but by the end of your day, it will be to him to make the hard decisions up.
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Q: How different is your son’s management style from yours? Ty: Arthur gets the advantage of the best education to make him be successful, not only from the academe but from his long and intensive contact with many facets of the bank’s operations. In this sense, his management style should be a blend of the best academic preparation and the needed understanding of the Metrobank culture and an understanding of its people.
Q: How will you spend time now? How active are you’ll still in your various businesses? Ty: I am endeavoring to expand and consolidate Metrobank’s involvement overseas. We’re growing the family’s business in Asian marketplaces. I am now in a position to spend additional time personally looking after our ventures and trying to consider more business opportunities, particularly in China. Q: What “rule” do you live by, in business as well such as life?
Ty: I’ve always sought to do everything the simplest way it can be done, whether banking or real estate automobile or development dealership. I think this has accounted for much what I’ve accomplished in life pretty, personally and as a businessman. Q: How many of your children are now in the business? Ty: All my five children, in a single way or the other, are involved in the business or in Metrobank subsidiaries. Arthur is of course president of the bank, while Alfred manages Federal Land and Toyota. My three daughters (Anjanette, Margaret and Alesandra) are with Metrobank subsidiaries.