Trade is a business activitythat a sole proprietor independently operates under his own responsibility. It may go without saying that it is to make a profit.
All of the above are defined precisely in Law No. 455/1991 Coll. and are referred to as the Trade Licensing Law.
Trade is further divided into notifiable trade and licensed trade. Notifiable trade is further subdivided, but it would be impossible to explain in such a short article.
What does a sole proprietor need? There is plenty for government offices, but nothing for one\’s own activities. The need to provide a service is sufficient.
Practices are different. Most merchants have already set up a storeor a workshop, so if they have already visited all the government offices and submitted all the necessary documents, including a certificate that they are not dead, they can wait a while before starting.
While waiting, if he is not so old that he can hardly climb anymore, he starts looking for guests and they start looking for him. If there are enough customers, that is a good thing; if there are not enough customers, that is a bad thing. However, a small merchant does not necessarily go out of business because he has no customers. There are many possible causes.
The Bisnode Group\’s analysis gives accurate numbers,but it has been pointed out that the numbers are skewedbecause some vendors operate only as a side business to employment. We do not intend to read all the numbers. They are just the basic ones, and they speak for themselves.
In 2008, there were 2,012,529 vendors in the country; in 2015, there were 2,053,377; now there are 2,107,068. It can be seen that the numbers are not very stable.
It is said that the number will decrease more in the future,while the number of limited liability companies will increase
. This is because the conversion to limited liability companies converts self-employed persons, i.e., paid employees , from natural persons to legal entities, which has a number of advantages. Some of the basic ones include, for example, a lower tax burden and limited liability for the entrepreneur. Hence the name “LLC.
Sole proprietorship will not be easy, but it also depends on many circumstances. If you are diligent and can pivot, you will do well.