A trade license is a document that authorizes or permits an entity to operate a business and engage in a specific trade in a specific location. The State Government governs the operation of a certain business from a specific location through Trade Licenses. It regulates and ensures that residents' lives and health are not jeopardized as a result of actions carried out in the course of trade.To guarantee how business is done and to keep the public safe inside the state, a Trade License is granted with standards, safety rules, and related legislation. The State Government regulates trade and business in the city by monitoring and issuing trade licenses.
Corporate entities that do not follow the rules of a trade license may suffer severe penalties in the course of its business. As a result, company owners must register for a trade license with the appropriate state authorities as soon as possible. The registration of a trade license is a time-consuming and costly process that will be addressed further.
BENEFITS OF REGISTERING TRADE LICENSE
Traders are granted a trade license by the municipal government to conduct business within a certain locality. Trade licenses are essential for monitoring business activity and determining whether or not enterprises are abiding by the rules and regulations.
- Increases customer’s Confidence-It guarantees that clients are not harmed by health difficulties as a result of bad company practices.
- Develops Goodwill and Brand Value-It preserves the market's better goodwill.
- Customer Base Increases-The registration of a trade license draws a growing number of customers and investors.
- Rules and Regulations are maintained-It is to ensure that the authority as well as the consumers are satisfied that the working practices are carried out fairly and in accordance with the established rules and regulations.
- Regulations within certain commercial activities-It regulates the industry by prohibiting specified commercial activity.
- Proper monitoring of Business Activities-A trade license aids in the monitoring of a trader's responsibilities in relation to the business.
- Legal Support-A business owner who has obtained a trade license confirms that no unethical or illegal activity is taking place.
CATEGORIES WITHIN TRADE LICENSE
ELIGIBILITY CRITERIA TO OBTAIN TRADE LICENSE
- Applicant must be of age 18 years or more,
- No criminal record of the applicant,
- Legally permitted Business,
- Business should be operated in the permissible area such as Commercial (Local and Notified both)
- Residential area with small shops of maximum area 20 square meter on the ground floor.