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Business Studies for Secondary Schools
Similarly, business owners can easily esti-
mate the amount of tax liability each year (a) Explain the importance of
and plan for payment. registering the farmer’s
business in this situation.
Helps in acquiring tenders: A business
licence assists or facilitates the acquisition (b) What legal, financial, and
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of tenders for product or service delivery operational advantages would
in government and private entities the farmer gain by registering
because a business registration is one the business?
of the requirements to qualify for the 2. An individual wants to open a
tendering process. boutique in one of the busy cities
in Tanzania but is hesitant to go
Aids in the application of passport and
visa for business owners: A business through the registration process
licence plays a crucial role as it may be because of the perceived paperwork
required when applying for a passport and and fees. The individual also feels
a visa for business purposes; it can make that the business is too small for
it easier to secure a business visa and may formal registration. Write an essay
help in verifying your professional status explaining the long-term benefits of
when applying for a passport. business registration, both legally
and financially, and how it could
Activity 3.2 contribute to the growth of this
boutique business.
Visit three small business owners in
your neighbourhood, ask and list all the Types of licences and certificates for
regulatory bodies they have registered small businesses
with, the fees paid to each body, and
the expected value or benefit from each
registration. As for those unregistered Activity 3.3
business, list the reasons of not
registering a business. Being an expert in business
formalisation, visit a business area
in the neighbourhood. Talk to two
Exercise 3.1
business owners who sell different
1. A local farmer starts selling fresh products. In each business, perform the
produce at a community farmers’ following activities:
market without registering the (a) Identify the types of licences they
business. As more customers buy
the produce, larger supermarkets have and those they lack.
become interested in purchasing
from the farmer.
Student’s Book Form Three 48
