Since 1984, business registration has been in progress, The nature of some business enterprise has made them in away that, you need to register them / get government permission before you run them. The following are the some of such business
a. Gold smith
b. Bear pallor
c. Food restaurant
d. Pharmacy
e. Any business with limited liability etc.
To buttress my point:
a. Gold Smith: This is an industry that is producing different types of iron in different , in order wards it is an iron producer, they do take iron and melt them re-shape it in different form. Gold business is capital intensive because every where, this is the business for the wealthy people. It is a separate resources which everywhere it is been found government take care/ control of it, and anybody who want to trade on it should obtain permission /license from the government authority
Government does this for the following reasons:
a. To avoid vandalisation of government property
b. To shorn exploitation
c. Also to generate revenue
d. To prevent dumping
It can be legal business when it is been registered
Bear pallor: This is a business organization known as sole proprietorship (one man business) of this business; establish it for the purpose of making profit
Nature Of The Business
The trader, trade both alcoholic and soft drink the alcoholic is the drink that enhances the highing of peoples brain, which as a result make the atmospheric condition un--conducive for the people
Reasons for government attention
a. To maintain peaceful atmospheric condition
b. To generate revenue
c. For easy collection of data for G.N.P calculation
Food restaurant: This is a food industry that produces food/ edible materials for human consumption, it can be inform of sole proprietorship or public liability it use to be registered or licensed eg
a. Feed well restaurant,
b. Mr. Biggs
c. Crunches etc government deemed it necessary for this type of business to be registered due to the following reasons:
a. They produce edible material which suppose to be supervised in order to promote health standard of the people
b. To avoided exploitation and starvation of people.
c. Because food is one of the (3) three basic need of man which can not be under look or undermined N/B restaurant business is business of dual purpose:
a. For commercial purpose and (b) for family consumption
Pharmacy: a pharmacy is a company that is manufacturing drug, people go into drug production in order to shorn disease causing organism and promote good health because a health nation is a wealthy nation. But it is one of the business that must be get registered before its establishment
Reasons For Government To Demand For License
a. The business deals with the health status of a being
b. To discourage exploitation
c. To avoid marketing adulterated drug
d. For easier collection of data’s for GNP calculation
e. To minimize the activities of the fraudulent people in the country
Generally, government is doing all these things in order to ensure the welfare of the mass and as well to regulate the movement of our economy
In all, the above mentioned business can either be sole proprietorship or partnership, ie sole proprietorship when it is one man business and partnership when it belong to two or more persons pull their resources together
e. Business liability company: This is a business organization which all the liabilities/ profit and lost made by the company are limited to the business ie it does not extend to their personal property. Therefore, as the business is conditional, there is every necessitated value for the registration of the business before it will be establish
Meanwhile, all the registration or licenses of any business venture are been done with cooperate affairs commission in the state.
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