Acquiring the necessary permits and licenses is crucial for several reasons: 1. Legal Compliance: Operating without proper documentation can lead to fines, penalties, or even closure of the business. 2. Credibility: Licensed businesses often enjoy higher credibility among customers and partners. 3. Protection: Permits ensure that your business complies with local regulations, which can protect you from lawsuits or legal complications. 4. Tax Benefits: Proper licenses can sometimes offer tax advantages or eligibility for certain grants and subsidies.