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31 July, 08:14

The next step in your plan is to identify which government regulations will impact your business. In two to three sentences, explain these impacts and how it will affect your business

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  1. 31 July, 08:24
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    Answer:There are many regulations that can affect business and this varies depending on the product, the country and the type of business. Here, I will identify 5 government regulations that can affect the business which are advertising, tax, employment and labor law, anti trust law and email marketing etc

    Explanation:

    Tax : Tax is a compulsory payment business, individuals must pay to the government.

    Different tax type such as excise, employment, income tax etc has different impact on the business ... The higher the tax, the more effect it has on the business. Government also offer incentive in form of tax to business owners and tax holiday to encourage business owners, this has positive effect on the business.

    Employment and labor law:This law will affect how you employ people to work for you and guidelines you must follow in your conduct with them

    Anti trust law:Anti trust law explains the relationship between the business the customers, and other competitors.

    Anti trust law addresses issues such as fixing of prices, price discrimination, Monopoly etc.

    The antitrust law can affect a business positively or negatively.

    Advertising : Advertising is necessary for the growth of a business but due to dubious act of some business men. The government has taken appropriate steps to control false advert.

    The impact advertising will have on your business is huge, provided you abide by the rules of the government such as complying with labor laws, proper understanding of rules of marketing etc. once those are understood, good advertisement will increase a business customers.

    Email marketing : This involves how you sell your products via email messages to customers and potential customers. The government regulations here are similar to advertising and the main aim is to protect consumers from false information, exaggerated opinions, deception etc.

    This regulation ensures things are done the proper way and a due process is followed.
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