Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), in collaboration with the Small and Medium Enterprises Development Authority (SMEDA), organized an informative and training session on “Business Registration and Compliance” to facilitate the business community, young entrepreneurs and new investors.
HCSTSI organizes training session
HYDERABAD, Jun 16 (APP): Hyderabad Chamber of Small Traders and Small Industry (HCSTSI), in collaboration with the Small and Medium Enterprises Development Authority (SMEDA), organized an informative and training session on “Business Registration and Compliance” to facilitate the business community, young entrepreneurs and new investors.
During the session, SMEDA Consultant Trainer Jahanzaib Saleem highlighted the importance of transitioning from the informal economy to the formal economy and explained its benefits in terms of investment opportunities, financial security, business growth and long-term sustainability.
He explained in detail that businesses in Pakistan can be registered under different legal structures including Individual Business, Partnership, Limited Liability Partnership (LLP), Private Limited Company and Public Limited Company. He also informed the participants about the concept of Limited Liability and explained that in the case of a company or Limited Liability Partnership, the liability of the owners is limited to the extent of their investment, which provides legal protection to personal assets.
Hyderabad Chamber Senior Vice President Ahmed Idrees Chohan said in his welcome address that business registration and fulfillment of legal requirements is not just an administrative necessity in today’s era but also an important means of sustainable business growth, access to financial facilities, benefiting from government incentives and achieving better reputation in the market.
He thanked ILO and SMEDA and said that their collaboration with Hyderabad Chamber is a manifestation of the fact that when international organizations, government agencies and business representative organizations come together on a single platform, effective and lasting solutions to the problems faced by the business community emerge.
Speaking on the occasion via Zoom, SMEDA and International Labour Organization (ILO) National Project Coordinator Naeem Ansari appreciated the effective collaboration between Hyderabad Chamber of Small Traders and Small Industry and SMEDA.
He said that ILO, in collaboration with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), all chambers and the State Bank of Pakistan, is organizing such training sessions across the country to familiarize the business community with registration, legal requirements and development opportunities. He hoped that this session would prove to be very useful for the business community of Hyderabad and would help businesses play a more effective role in the national economy.
