Page 68 - Bisiness Studies_Form_3
P. 68
Business Studies for Secondary Schools
1. Describe your business idea. 4. There are several procedures for
registering a business name and
2. Identify the type of registration acquiring a business licence and
you need. tax identification number.
3. Make a step-by-step registration plan 5. Failure to register a small business
FOR ONLINE READING ONLY
with timelines or a checklist. may lead to business closure,
imprisonment, property confiscation,
4. Identify documents and costs fines, and penalties.
needed.
5. Explain how your business will
benefit from registration. Revision exercise
1. Choose the correct answer among
the given alternatives in questions
(i) to (xi) and write its letter in your
exercise book.
Chapter summary (i) The first step in registering
a small business is
1. Business registration is the process .
of obtaining legal authorisation to
establish and operate a business. (a) Registering for a TIN.
2. The importance of registering a (b) Filling tax returns
small business includes freedom (c) Hiring employees.
to do business, access to finance, (d) Selecting and registering a
market access, intellectual
property rights, improved tax (ii) The government agency
administration, and planning. responsible for business
name registration in Tanzania
3. Several types of licences fall Mainland is .
under the general category, while (a) TRA. (b) SIDO.
others are specific to certain
sectors. (c) BRELA. (d) BPRA.
(iii) If you want to register a
business name in Zanzibar,
which government agency do
you go to?
Student’s Book Form Three 60
