Do They Help Businesses?
It has been defined in a various ways by different authors. According to Samuelson No economic system leaves all decision to the market particularly the developed economy even in the most strongly capitalist system and developed economy. The government plays a major role in the decision of what, how and for whom Basic economic problems of the society to produce.
Government action to regulate business in a developing economy inspired by many objectives.
Some of these objectives are: To create and maintain climate of confidence, stimulating the activity of the enterprises, to establish and have respect to the rules of completion To achieve an environment permitting the business to exist, and to satisfy the external monetary and diplomatic of stability and cooperation.
Government regulations business plan fix clearly national goods, of accepting global levels of wages and price increases, of credits and investments, and to act on directly in specific cases.
To promote permanently social progress and the maximum justice compatible with the level of economic activity strived for.
To fix and distribute public and social burdens in a supportable and equitable member, taking into consideration the differences in sizes of the various enterprises and the economic activity of the country.
To effect control of posterior with severe sanctions against violations, rather than to affect permanent control which are preventive only in name.
The constitution empowers the government to exercise control over a wide spectrum of economic and national activities such as industrial and licensing printing of the monetary and fiscal policies including the minting and printing of the national currency import and export of the national relations policies, control and regulation of monopolies, policies regarding taxation, foreign exchange, employment national defense law and other, diplomacy, natural resources, education health and so on.
As a result of this constitutional right which came about because of sovereignty, government kept a close watch on the activities of business, especially foreigners. These group are the nations citizen and it is constitutional duty of government to protect them.
These bodies have rules and regulations which members have reciprocal agreement with some other countries on issues like copyright protecting expatriates from double taxation and so on enforcing these regulation on business enterprises in Nigeria is a means through which government furies its bilateral multilateral obligations.
Nigeria as a developing nation has need of an effective and efficient business operation in both her private and public establishment for her survival and to contribute to the social — economic gearing of the nation.
It therefore means that coordination of maximum contribution from each basic function of the organization such as marketing, finance, personnel production and distribution, etc.
The consistent government regulation and control in Nigeria as a developing country will also go a long way to stabilize the economy for rapid growth and development. In fact, the importance of government regulation and control of businesses particularly in developing economies in the case of our nation Nigeria cannot be over-emphasized because most of manufacturing firms have turned to be producing unhygienic products, which are dangerous to the health of the citizen.
Most companies produce inferior goods hence expecting citizen to pay dearly for these goods. Also, the government intervention via regulation and control will reduce the fear of loosing money deposited in the banks by the citizen. Most banks have taught many people lessons via their lack of trust and inefficiency.When how to write a business plan is at the top of the SBA list of the ten steps in how to start a business, it tells you something about how important the experts consider it to be.
Planning a business and writing a business plan is more than just having a location picked and a product or service to sell. Profit is the most direct answer to how government regulations affect business.
In a free market society, such as the United States, the goal of business is to turn a profit.
Every regulation that is imposed by the government on business ultimately affects its bottom line. Developing a Business Plan. An important task in starting a new venture is to develop a business plan.
As the phrase suggests, a business plan is a "road map" to guide the future of the business or venture. My concern here is with government regulation of business or economic affairs by municipal, county, state, and Federal politicians and bureaucrats. During the past few years, the case for such regulation has been spelled out in fairly clear and general terms.
Many sectors of the business world have long complained about government regulations and their restrictive nature.
Often cited as an impediment to corporate and small business profits and a waste. Employment. If you are starting a business that will be staffed with employees, check with federal, state and local government entities for filings and regulations related to becoming an employer.