A business plan is not the only thing you need to work on if you want to do business. This is to say that besides business plan, you also need to work on other things like the:
- product or the service model
- financing options and
- compulsory regulations for business
Now, GST compliance, licensing requirements, etc are few of the important regulations you need to comply with. In addition, the Shops and Establishments Act is another important regulation your business needs to take care of.
Hence, every state in India has enacted the Shops and Establishments Act. This Act is executed in order to:
- regulate the conditions of work,
- provide for statutory obligations of the employers and
- administer the rights of employees in the unorganized sector and other establishments in their jurisdiction.