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  • POB (Regulations When Setting Up A Business)

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    Daniel Wright
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    Regulatory practices refer to the rules and laws businesses must follow when establishing and operating. For sole traders, there are few regulations to set up a business, though some may require permits or licenses depending on their industry, such as food handlers needing permits. Trades like electricians and plumbers must be licensed by passing qualifying exams to practice independently.

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    Regulatory practices refer to the rules and laws businesses must follow when establishing and operating. For sole traders, there are few regulations to set up a business, though some may require permits or licenses depending on their industry, such as food handlers needing permits. Trades like electricians and plumbers must be licensed by passing qualifying exams to practice independently.

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    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
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    20 views1 page

    POB (Regulations When Setting Up A Business)

    Uploaded by

    Daniel Wright
    Regulatory practices refer to the rules and laws businesses must follow when establishing and operating. For sole traders, there are few regulations to set up a business, though some may require permits or licenses depending on their industry, such as food handlers needing permits. Trades like electricians and plumbers must be licensed by passing qualifying exams to practice independently.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
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    What are regulatory practices?

    Regulatory practices can be defined as rules and laws persons must act in
    accordance with when establishing and conducting the business.

    Regulations regarding a Sole Trader


    As far as the sole trader is concerned, there are very few regulations in the
    setting up of a business. In fact, many sole- trader type businesses do not have
    any requirements to satisfy at all. A few might be required to have permits or
    licences in order to operate businesses. For example, those involved in handling
    food, say at a restaurant, are required to have a food-handlers permit. They are
    also required to take a medical examination to satisfy the authorities that they
    are in good health as, otherwise, they could spread diseases.

    Licences:
    Persons who are engaged in trades, such as electricians and plumbers, must be
    licensed. Some are required to sit and pass examinations which qualify them to
    receive their licences and practise unsupervised.

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