The first condition for doing business in any country is legal legitimacy [that is, the same as getting a citizen identity like NID], And the first act of legitimacy in your business is the trade license.
Conducting business without a trade license is a crime in the eyes of the law. According to Rule 44 (1) of the Municipal Corporation Taxation Rules, 197, if you want to conduct commercial activities in the city corporation area, you must get a trade license.
Trade licenses are much needed for all types of business. Be it an e-shop on the street or your coconut oil business of 1 thousand Taka investment.
You will get a trade license, what is the need/use of this trade license?
We can’t get any help from any government or private loan, bank account, etc. without the National Identity Card (NID). These opportunities cannot be taken without NID because NID is proof that we are legitimate citizens of this country.
Just like that, you can’t get a lot of opportunities in your business even if you don’t have a trade license.
Now let me say the main thing.
- If you want to have a bank account in the name of the organization, you must have a trade license.
- Even if you want to do business in a big volume, you need a trade license.
- Even if you want to give a showroom.
- Even if you want to take an interest-free loan from the government.
- Even if you want to get cash assistance by exporting abroad.
- In special cases, these may take up many more details.
Hopefully, everyone understands how important a trade license is.
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