Question

What is a informal business

Answer 1

Answer:

The informal sector refers to those workers who are self employed, or who work for those who are self employed. People who earn a living through self employment in most cases are not on payrolls, and thus are not taxed. Many informal workers do their businesses in unprotected and unsecured places.

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Answer 2

Answer:

Unregulated businesses, usually run by people unemployed in the formal sector of the economy. Examples are Spaza shops, hawkers, market gardeners, pavement sellers.