Applying for a business license carries advantages and disadvantages. Sometimes, it's not an option if you should get one or not – it is required. However, some licenses are optional.nnHere are the pros and cons of applying for a business license.nnPros:nGrants your business the right to operate in a given area or industry.nHelps establish your business as legitimate to customers.nMany lenders feel licensed businesses are less of a risk than unlicensed businesses.nnCons:nnIt can be a significant cost from your startup budget.nTypically requires intensive paperwork.nYou must track and apply for renewals.