In addition, you will need to obtain a tax identification number for your business. The Federal Trade Commission has also been perceived as a foe of business by some firms, which have had their practices such as price fixingmonopolies and fraudulent or misleading advertising curtailed by this arm of the government.
EXCHANGE RATE Exchange rate as a tool for regulating business would for example, be raised against the domestic currency to government regulations business plan external investment this ensuring balance of payment the price of one currency in turns of the other.
The consistent government regulation and control in Nigeria as a developing country will also go a long way to stabilize the economy for rapid growth and development. The Employee Retirement Income Security Act ensures that employees receive the retirement plan options and health care benefits to which they are entitled as full-time employees.
Tax could be used to control inflations and to meet other society and economical policies of the government.
Also, the government intervention via regulation and control will reduce the fear of loosing money deposited in the banks by the citizen. Carried out in the country.
Organizational Structure When you decide to start your business you need to consider your organizational structure. It is a custom duty or tax imposed by government on the importation or exportation of goods. Direct tax is a tax on income or receipts and incidence of such tax fall directly on the payer in that it is possible for the person who pays the tax to shift the burden to someone else.
Anti-Business Regulations and Laws Since the enactment of anti-trust laws in the early twentieth century, followed by periodic increases in corporate tax rates and increasingly complex and restrictive regulatory laws governing the conduct of business, the American business community has generally been an opponent of any government law, regulation, compliance obligation or tax levy that it perceives to undermine profitability or impede business operations.
Federal agencies such as the U. Depending on your business type, you may qualify for certain types of tax categories, such as an S Corporation or a c 3 organization for nonprofit organizations.
Tax is therefore one of the tools which government emphasis to regulate and control businesses. So clearly the no rules approach has a cost for the general public - which is why our elected bodies are in charge of regulation in the first place.
The proliferation and emergence of fake and unregistered swindle business which publish a comprehensive up to date list of authentic and licensed business in Nigeria as a guide to prospective customers. During military regimes all laws were promulgated as decrees. Employment If you are starting a business that will be staffed with employees, check with federal, state and local government entities for filings and regulations related to becoming an employer.
That is caught in drug trafficking, drug addicts and other mal-practices in the country.Regulations Compliance with Governmental Regulation. In researching the industry and formulating a business plan, the owners encountered several areas of government regulation which will need to be incorporated into their operations ensuring that the legal environment is well understood.
Developing a Business Plan. An important task in starting a new venture is to develop a business plan. As the phrase suggests, a business plan is a "road map" to guide the future of the business or venture. The Elements of a Business Plan: First Steps for New Entrepreneurs Elements of a Business Plan Section 1.
Business Description As an introduction to your business, this section should • Government regulations (government influence through regulations and policy).
When how to write a business plan is at the top of the SBA list of the ten steps in how to start a business, it tells you something about how important the experts consider it to be.
Planning a business and writing a business plan is more than just having a location picked and a product or service to sell. The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this.
government regulation and control of business in a developing economy(a case study of sunrise flour mills ni. ltd.) Regulation refers to the prescribed rule; authoritative direction correct pattern used to moderate business activities in order to benefit both the citizen of such nation.Download