Licensing / Legal requirement & Operation / Management of business.

1. SECTION 3
Registration, Legal, and licensing

2. OBJECTIVES
 What legal procedure means.
 Business registration
 Funding
 Paper works
 Business plan

3. What is a legal procedure?
■ Legal procedure are rules designed to ensure a fair and consistent
application of due process.
■ It is a body of law and rules used in the administration of justice in the
court system.
In this case,
 It is the legal process, you need know or follow in other to legally
established your business
 And also to operate your business in full compliance with the rules and
regulations that govern the areas of your intended business.

4. Business Registration Business Funding
■ Personal saving
■ Business plans
■ Bank
■ Government grants
■ Credits unions
This is the stage you prepare necessary information needed.
■ Business name
■ Business purpose
■ Location
■ Contact, phone number
■ Fill form for business registration

5. Legal Procedure
PaperWork
■ Insurance
■ Worker’s compensation
board(having employee)
■ Policies and guideline
■ License/permits
■ Business plan
Business Plan
emojimeanings.org

6. BUSINESS PLAN
A business plan is a written document describing your
company main business activities. Including your business
objectives, and how it plans to achieve those goals.

7. Importance of Business Plan
Why make a Business Plan?
 Serves as a road-map (a plan) that provides direction to your business
 Written business plans are often required to obtain a bank loan or other
kind of finances.
 A business plan is a very important and strategic tool for entrepreneurs. A
good business plan not only helps entrepreneurs focus on the specific steps
necessary for them to make business ideas succeed, but it also helps them
to achieve short-term and long-term objectives
www.sbdc.duq.edu

8. Questions

9. BUSINESS
MANAGEMENT / OPERATION

10. Objectives
 What is business management
 Areas of business
 Financial advise

11. What’s business management?
 Management is the administration of an organization, whether it is a
business, a non-profit organization, or government body.
 Involves the management of business operations and decision-making.
 -as well as the efficient organization of people and other resources to direct
activities towards common goals and objectives
Wikipedia.

12. Bus. management involves how you handle the areas
below?
1
1.Planning
2
Organizing
2
Commanding
4 5
Coordinating
Controlling

13. Areas of business management.
 Operations.
 Day- to-day affairs
 Inventory (Bulk/Retail buying)
 Accounting (Finance, bookkeeping and ledger entry.)
 Finance
 Bookkeeping. (Single or Double entry)
■ Bookkeeping is the recording of financial transactions, and is part of the process of
accounting in business and other organisations. It involves preparing source
documents for all transactions, operations, and other events of a business. Wikipedia

14. Questions
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