Page 50 - Bisiness Studies_Form_3
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Business Studies for Secondary Schools
(d) A timeline for implementing the 5. BRELA and BPRA streamline
steps towards the compliance business registration and licensing,
measures. making it easier for small businesses
(e) How will you stay updated on to formalize their operations.
changes of the relevant laws and 6. TCCIA and ZNCC represent the
FOR ONLINE READING ONLY
bylaws.
interests of small businesses,
providing networking opportunities
and market access support.
Chapter summary 7. TAMFI focuses on improving
1. Government organs such as BRELA, access to microfinance, a critical
BPRA, SIDO, and SMIDA play a resource for small business growth.
vital role in formalising businesses, 8. TPSF acts as a high-level advocate
enforcing regulations, and providing for the private sector, including
essential services to small businesses. small businesses, and also works to
2. Non-government agencies like improve the business environment.
TCCIA, ZNCC, TAMFI, and TPSF
offer support through advocacy, 9. National laws establish legal
capacity building, networking, and requirements for business
facilitating market access. operations, ensuring compliance and
3. Policies are guidelines, regulations, fair practices. They are presented
and measures established by in acts and ordinances like the
governments or organisations to Companies Act, Income Tax Act, and
guide decision-making and achieve Employment and Labour Relations
specific objectives in various Act.
sectors. 10. Local government by-laws on
4. Policies create a framework for licensing, market, and waste
supporting small business growth management regulate specific local
and economic development. They activities, adapting national laws to
create an enabling environment community needs.
to address market failures, 11. Compliance with laws and by-
facilitate access to resources, laws is essential for small businesses
stimulate economic growth and to operate legally, build trust with
development, and ensure social customers, and contribute to sustainable
and environmental responsibility. economic development.
Student’s Book Form Three 42
