Describe the detail the process for process for establishment of a new Unit ? (Subject Entrepreneurship Development)
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Explanation:
Before setting up a business and raising funds there are some legal requirements one must fulfill.
In order to set up new unit/firm and raise funds the legal requirements are:
(i) Registration of Firm: Before operation, the firm must be registered in order to follow the constitutional requirements.
(ii) Registration of License: Firm requires a licence for operation by the government locally, nationally and internationally.
(iii) Sales Permission: A firm requires permission to sell their goods in the market after they are approved by the government.
(iv) Tax Payments: The firm must pay all levied taxes in order to operate.
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