Questions Business and Entrepreneurship

What licenses are needed to start a retail business?


Hina Sohail

Heads up in the clouds

Retail business, on the face of it, looks like a very easy venture which any novice can indulge into. Though it is undoubtedly a profitable one, if done with the right business acumen, there goes into its certain pre-conditions. These pre-conditions are the mandatory, legal procedures to be followed by a law-abiding citizen of obtaining certain licenses, permits, and certificates for the smooth running of the business.

Steps to start a retail business:

  • As soon as you have landed upon the idea of starting a retail store, you need to keep aside the necessary capital required for the startup.

  • Next is to find a unique name for your business. The trademarked name has to be unique in the sense it must not be by some other entity otherwise you cannot use it.

  • Then decide if it has to be a sole proprietorship, a partnership firm or a corporate entity.

  • The Registration procedure for the appropriate body has to do accordingly.

  • Next is obtaining Tax Id for your Business which is known as the TAN number. These are similar to the PAN number obtained for individuals. It is the Tax Deduction and Collection Account Number which is vital for every existing or newly started business.

  • Then is the opening of a Bank Account in the name of the business. Here the bank will require the applicant to submit various supporting documents. Also, details regarding the mode of account operation and transaction limit will also be specified.

  • If the business needs to be done from a physical location, then you have to lease or buy the appropriate property in consultation with a real estate agent or lawyer.

  • Next is obtaining the Local Municipal License for operating the business from the specified address.

Depending on your business location and the nature of the same, the other applicable licenses and permits to be obtained are as follows:

  • Resale license / Sales Tax license.

  • City or country business license or permit.

  • ‘Doing Business As’ (DBA) registration.

  • Fire department permit.

  • Sign permit.

  • Health Department license.

  • Fixing upon the Employee's Wages and working hours.

  • Generate an employee handbook which lists all the company policies and procedures to be followed.

Business and Entrepreneurship Courses


Do Your Own Accounts

Lisa Newton

0 (0) New Course

How to do your own manual bookkeeping using excel spreadsheets.

1 hrs 30.27 mins 0 Students Enrolled 11 Lectures


51.28 % off $39


Buy Now

Start Your Own Business

Lisa Newton

0 (0) New Course

There are some downloadable items for you to fill in for your own reference - a business plan and a marketing plan. The course will take about 7 hours to complete. If you are thinking of starting y...

2 hrs 4.32 mins 0 Students Enrolled 16 Lectures


57.78 % off $45


Buy Now

How to be a Great Executive Researcher & Recruiter...

Gary Wilson

0 (0) New Course

This course is designed to train the student in the role of an executive search consultant. It is designed to be a basis upon which any bright individual with the right (Do It Now) attitude can be...

3 hrs 49.10 mins 0 Students Enrolled 16 Lectures


90.0 % off $190


Buy Now

Build Strong Foundation to Become an Entrepreneur ...

Mayur Pangrekar Verified

0 (0) New Course

Welcome! Learn directly from International life coach and trainer Mayur Pangrekar. Mayur Pangrekar has taught more than 3000 people in training programs and more than 5000 people through video c...

1 hrs 26.11 mins 2 Students Enrolled 15 Lectures

$ 0.00

Free Enroll Now
View All
Item added successfully. Go to cart for checkout.
Accept Reject