A Level Business Studies: Formal and Informal Businesses

By |2023-01-24T15:59:57+02:00January 24th, 2023|

Formal Businesses

  • Formal businesses generally have the following features that set them apart from informal businesses
  • They are legally recognised and registered with the government or a competent authority
  • A competent authority is someone who is authorised by the government to legally register businesses