👨⚖️Has the Government Adequately Regulate the Business Sector?
Government regulations on business are required so that the companies behave in a way that benefits their workers, customers, environment, and society as a whole. Business regulation is complex because it involves many levels of authority from the national to local levels. And involve both regulatory and legislative bodies of the government.
There are at least five essential government regulations on the business sector:
- Tax regulations
- Employment and Labor regulations
- Antitrust law
- Environmental Regulations
These regulations are meant to protect the interest of the public. Do you think that your government has adequately regulated the business sector?
Yes in my country, business sector is adequally regulated, one can start a business and have every administratves documents you need to run your business freely.
Are labour and environmental laws careful observed by employers in your country?
Hi, Leno. I think many countries have also put that regulation in place, to allow for more business to open and grow. But, what about the more essential regulations such as tax regulations, employment and labour law? Do you know specific regulations in your country in that area?
In my country some labour laws are not well regulated.like social security act, which requires the employer with at least 5 employees to contribute 10% of each employee monthly to social security fund as savings for retirement.But some employers do not implement it.
Yes, government have adequately regulate business sector in the country. Individuals or group can now own business without any interruption from the government bodies
In my country it has not been possible I think. This is because we have so many informal businesses that operate without necessarily registering. They are very many.
Adequate business regulation is a big challenge here. There are many other challenges persee and high level corruption poses another bottleneck. These and many others don’t give the government any chance to adequately regulate businesses here.
In my country environmental laws are not observed also.many individuals open up industries in forest reserves and in water catchment areas like swamps.