Business license refers to the permission issued by government or government agencies to allow a person or business organization to do business in the geographical area that includes government jurisdiction. Generally local government gives this permission. In order to trade in the same legal jurisdictional geographical area, many government agencies have to collect multiple permits. Not only permissions, registrations and certificates may also be required.
Typically, the business type of business permit and its legal status on the physical location depends on the type of permit. Apart from the number of employees of the organization, type of ownership (single ownership or corporation), etc., permissions may vary. If there is no business license, then government agencies can penalize a business or even close it.
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The concept of business license of Bangladesh is expressed with the term “trade license”. In this case, the trade license is licensed or licensed from the appropriate authorities for business purposes. If you want to do any business, you have to first get the license of trade. Trade license is granted on the basis of application of business entrepreneur. It can be used for business purposes only and is not transferable. In order to open a bank account in the name of business organization, to become a member of a business organization, to obtain bank loans, such a trade license is required. The business location is very important for licensing the trade. In the first place, select the appropriate authority according to the business location. Then the right category of business should be determined and the trade license application form should be filled properly and apply for a license with appropriate documents and appropriate authorities.
More details about Trade License please see this link: Wikipedia