A business license is a document issued to businesses allowing them to legally perform activities in a specific area. It is granted by the local, regional or national government agency acting as regulator for a certain sector.
Without the license, the business cannot legally operate and may be subject to penalties if no license is applied for. Businesses wishing to obtain a business license often have to provide collateral, submit relevant documentation and pay taxes.
Get in touch with legal and business professionals to make sure you are compliant.