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Here is the easiest way to get your Trade License in 2019.

A Trade license is a document, certificate or permit which allows individuals or companies to conduct businesses, or carry out operations in the territory that comes under the Indian National Government. It is a certificate that allows the holder to conduct business in the field specified and on the premises on which the jurisdiction of the Indian government extends.

A Trade license is a document, certificate or permit which allows individuals or companies to conduct businesses, or carry out operations in the territory that comes under the Indian National Government. It is a certificate that allows the holder to conduct business in the field specified and on the premises on which the jurisdiction of the Indian government extends.

Trade licenses are important for starting any business. There is a multiple amount of trade licenses present and issued nowadays. They help to get your business registered and give authenticity to it. Because registration of business increases the goodwill of the business.

This trade license should not be confused with the Licensing Raj that existed in India. Trade licensing refers to the registration of businesses, it does not involve any tight scrutiny, hard rules and regulations to comply with. We see that even though the terms are similar, consequently they mean completely different things.

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Furthermore, there are several legal aspects involved in trade licensing, into which we delve later on. Moreover, we shall move forward initially by continuing our discussion of trade licensing.

Conversely, we defined what is trade licensing and how it is different from the license Raj. Now, In India trade licenses are controlled by state governments with the help of municipal corporations. Each business needs to obtain a trade license from the municipality of the particular district, under the particular state governments.

Is a trade license worth it?

Yes! It is. You need to get your business licensed because it is mandatory and especially attracts several legal consequences. Consequently, the benefits are not limited to this only. Furthermore, the benefits extend to goodwill, recognition, easy credit availability and other such benefits.

Moreover, you should not get a trade license just because only it is legally required. There are many government schemes which help the young companies and start-ups to grow and become big. Consequently, if you do not have a trade license, you cannot become part of such schemes.

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In addition to this, trade licensing helps in reaching and spreading your business. By issuing it, you can easily advertise your business without any hassle. Moreover, in any legal formality concerning your business, you are required to present a trade license. Furthermore, you also require a trade license for starting a new business.

Furthermore, we cannot avail loans from banks, co-operative societies or any other organization without having a trade license. In case, you are wondering about saving taxes by not issuing a trade license. Although, you can do it the benefits outweigh the taxation cost.

Hence, one should get a trade license and avail all the benefits of branding, goodwill, easy credit, etc.

Let us delve deeper into the topic and understand the basics and technicalities behind it:

Who issues a Trade License?

Trade licenses can be issued by municipal authorities under the State government. The government of India has granted permission to regulate the authorities, companies, and firms by the way of letters, documents, or certificates.

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The rules and regulations of trade license vary from municipal corporations and State governments. These rules and regulations define the boundary and set the parameters for the process involved in the registration of trade licenses. Even though the process is quite as simple and hassle-free, the difference between the cultures and region-wide can result in the difference between the processes especially in the licensing fee, rules to comply with, etc.

The government authorizes the issue of trade licenses in order to regulate in cities. Furthermore, it also acts as a revenue generator for the government. The issue of trade licenses depends on the type of business, scale of business and the rules followed in the concerned city.

Different categories of Trade License:

There are a wide variety of trade licenses that exist in the industry. We can categorize based on different attributes such as nature, type, scale, scope, services provided, types of products, etc. We can classify the categories for licensing based on a variety of categories.

However, we are going to classify trade licenses based on the following categories:

1. Industrial Licenses; Small, Medium and Large manufacturers

2. Shop Licenses; Salon, Manufacturers of products such as candles, crackers, etc., dry cleaner and other shops.

3. Food establishment Licenses; Restaurants, hotels, canteen, bakery shops and other food selling franchises or shops.

So, we have defined the broad categories for trade licensing. We see that the categories are not limited to this only, in addition to this, there are several categories involved. These categories are for the references for the businessmen. These are the broad-based categories which shall only be used for reference.

Furthermore, the specific licenses are listed for the specific on the website for trade licenses.

Eligibility for a trade license:

1. The applicant should be a major i.e. must have crossed the age of 18. However, in case of a partnership firm, if one or more partner is minor, there should be a major partner present at the firm.

2. He is getting the license or is involved in getting the license. Furthermore, in any way is related to the firm getting the license shall not hold a criminal record.

3. The business should be legal i.e. illegal activities such as; trafficking, betting, etc. are not permitted for registration.

Documents needed for Trade License registration:

1. PAN card of the firm or sole proprietor along with the incorporation certificate (for company or partnership firm).

2. Aadhar card is mandatory.

3. The recent municipality tax receipt.

4. Lease documents and NOC from the owner of the property.

5. NOC from the neighborhood.

6. A sanction plan is also required.

7. Occupancy certificate (OC)

Processing time:

The processing time for a license is 8-10 days. Though, it must be noted that this is not the standard time. In addition, to this, it can take some time even more than a few weeks to get your trade license.

Advantages of Trade License:

1. Brand:

Registration of business helps in developing a brand for a business. Moreover, developing brand loyalty helps in increasing the user base of the business. The benefit of branding is not limited to this. In addition to this branding is important because most of the businesses are known by their brands, not by their business name.

Businesses should focus on getting their brands recognized and this becomes important for getting trade licenses for your business. Branding can take your business to a competitive level. This can also help you gain market power. Thus, one should get a trade license for business so that it can build your brand value.

2. Easy availability of credit:

Businesses need credit to grow and develop. Credit is the backbone of the growth of the business. Moreover, without credit business cannot grow and develop. However, with the issue of Trade License, you can get easy credit for your business. Because it grants authenticity to your business. Authenticity leads goodwill to your business. This can help to get easy credit from the banks, co-operatives, etc.

Moreover, the reason for this is that the trade license develops trust among the business and lenders. This trust is important for easy credit availability and hence, it becomes important to get a trade license.

3. Goodwill among consumers:

Trade license helps to generate goodwill among consumers. Goodwill is an important asset for the business. In addition to this, goodwill helps in generating a wide consumer base for business. This wide consumer base is important for the revenue of the company.

Goodwill also helps in spreading the business among the consumers, it helps in creating a customer base. This helps to generate a target group of customers. Furthermore, goodwill helps in building brand loyalty. In addition to this, goodwill helps to build trust among customers. In short, goodwill is an asset to an organization and businesses should develop this.

4. Legal protection:

Trade licenses provide legality to businesses and lend authenticity to it. Moreover, without trade licenses, businesses are considered illegal and hence, can lead to severe penalties on legal grounds. Moreover, practicing business without a trade license can also result in the shutting down of business.

5. Competitive advantage:

People today have become conscious of the businesses present around them. They have become aware of the laws around them and know all the ifs and don’ts about all the laws. Hence, businesses need to get a trade license because it builds the trust of the people. It has become an important factor in the world of today. If a business wants to establish brand loyalty, develop a target group of customers or want to become a market leader, they need to get the trust of their consumers.

Meanwhile, trade helps you to get trust, gain goodwill, develop a targeted group, or have brand loyalty. Trade license is an important document and it helps the business to achieve more than just avoiding legal penalties.

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We have a team of experienced staffs which is devoted to serving the best to our customers and providing them with the best possible services available on the market. You just sit back and run your organization, we are here to help you out with accounting, registration, licensing and other services.

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