To
investors (Shareholders)
investors (Shareholders)
The
owners of an incorporated business enterprise are called shareholders, while
those who own other registered enterprises may be called partners (if there are
more than one proprietor) and sole proprietor, where there is only one owner.
All
owners of an incorporated business enterprise are called shareholders, while
those who own other registered enterprises may be called partners (if there are
more than one proprietor) and sole proprietor, where there is only one owner.
All
those classes of business ownership are affected by various decrees of
government controls and regulations. The shareholders must pay taxes on the
dividends declared and paid to them by their companies
Under
the existing regulations, such taxes are deducted before the dividends are paid
to them (withholding tax). There are government regulations on the conduct of
annual general meetings (AGM) that the law requires them to hold once a year.
The government regulates how shareholders can acquire new stocks or dispose
their existing holdings in their companies
the existing regulations, such taxes are deducted before the dividends are paid
to them (withholding tax). There are government regulations on the conduct of
annual general meetings (AGM) that the law requires them to hold once a year.
The government regulates how shareholders can acquire new stocks or dispose
their existing holdings in their companies
Finally,
the companies and allied matters decree (CAMD) of 1990 places the shareholders
at the lowest level of consideration regarding the proceeds from the disposal
of assets of a company that has been wund-up. The first priority is given to
tax liabilities such companies may have to the creditors. Partners and
proprietors are similarly required to pay taxes on earnings accruing from their
businesses. The law stipulates specific procedures for declaring their business
bankrupt. When this happens, the personal assets of such proprietors and
partners may be sold and the proceeds from such sales used to pay off partially
or in full the debts owed by their business to various creditors
the companies and allied matters decree (CAMD) of 1990 places the shareholders
at the lowest level of consideration regarding the proceeds from the disposal
of assets of a company that has been wund-up. The first priority is given to
tax liabilities such companies may have to the creditors. Partners and
proprietors are similarly required to pay taxes on earnings accruing from their
businesses. The law stipulates specific procedures for declaring their business
bankrupt. When this happens, the personal assets of such proprietors and
partners may be sold and the proceeds from such sales used to pay off partially
or in full the debts owed by their business to various creditors
Government
and employers
and employers
By
various pieces of legislation, government determines the condition under which
employer/employee relationship are generally free to decide what wages and
salaries to pay. Government influences that decision by various means
various pieces of legislation, government determines the condition under which
employer/employee relationship are generally free to decide what wages and
salaries to pay. Government influences that decision by various means
i.
By clamping down on wage freeze during periods of political or economic
emergences
By clamping down on wage freeze during periods of political or economic
emergences
ii.
By setting minimum wages as has been the practice since independence
By setting minimum wages as has been the practice since independence
iii. Where no wage freeze exists, the government can still influence the
magnitude of wage increments that business enterprises can be aware because the
wages settlements must always be referred to the prices, income and
productivity Board (PIPB) for approval
magnitude of wage increments that business enterprises can be aware because the
wages settlements must always be referred to the prices, income and
productivity Board (PIPB) for approval
The
industrial relations decree of 1976 sets the details of how disputes between
employers and trade union are required to attempt international settlement
through joint consultation and collective bargaining. Where this fails, there
is no provision for declaration of formal trade dispute and for the matter to
be referred to the ministry of labour, employments and productivity whose
minister is empowered to refer the matter to industrial arbitration panel
(IAP). The IAP allows both parties to present their cases and renders a binding
decision
industrial relations decree of 1976 sets the details of how disputes between
employers and trade union are required to attempt international settlement
through joint consultation and collective bargaining. Where this fails, there
is no provision for declaration of formal trade dispute and for the matter to
be referred to the ministry of labour, employments and productivity whose
minister is empowered to refer the matter to industrial arbitration panel
(IAP). The IAP allows both parties to present their cases and renders a binding
decision
Government
& Customer
& Customer
Business
enterprises have two types of customer, but the type that easily comes to mind
is those who buy the enterprise product and services. This people sustain the
enterprises because their patronage determines business success or failure. The
watchword of today’s management is the consumer orientation ‘customer is king’
and this is the reason for the strong marketing orientation of the more
successful business enterprises today
enterprises have two types of customer, but the type that easily comes to mind
is those who buy the enterprise product and services. This people sustain the
enterprises because their patronage determines business success or failure. The
watchword of today’s management is the consumer orientation ‘customer is king’
and this is the reason for the strong marketing orientation of the more
successful business enterprises today
Government
& suppliers
& suppliers
Another
set of customers equally important for the successful operation of business are
people or organizations that provide the materials, equipment and spare parts
with which business enterprises operate. It is fashionable to refer to these
categories of customers as suppliers. One thing is obvious and it is that a
business enterprise is a customer to those business organizations who are its
suppliers. These suppliers and customer are equally affected by government
regulations for instance, those who buy goods and services of a given
enterprise or enterprises are sometimes required to pay taxes on their
purchases e.g. VAT.
set of customers equally important for the successful operation of business are
people or organizations that provide the materials, equipment and spare parts
with which business enterprises operate. It is fashionable to refer to these
categories of customers as suppliers. One thing is obvious and it is that a
business enterprise is a customer to those business organizations who are its
suppliers. These suppliers and customer are equally affected by government
regulations for instance, those who buy goods and services of a given
enterprise or enterprises are sometimes required to pay taxes on their
purchases e.g. VAT.
Government
regulations also governs the condition of sales such as enforcement of
warranties and the responsibility of the supplier for the enforcements of his
goods or products to state the full composition of their products and to put
price tags on the labels. There is provision for warnings to consumer about the
inherent dangers in the consumption of some goods such as the present slogan
‘tobacco smoking is dangerous to your health’. Strict provisions are placed on
the distribution and dispensing of drugs. From the above, it is obvious the
extent to which the government controls the conduct of business and the degree
to which government regulates it affects all the public which a business
enterprise serves.
regulations also governs the condition of sales such as enforcement of
warranties and the responsibility of the supplier for the enforcements of his
goods or products to state the full composition of their products and to put
price tags on the labels. There is provision for warnings to consumer about the
inherent dangers in the consumption of some goods such as the present slogan
‘tobacco smoking is dangerous to your health’. Strict provisions are placed on
the distribution and dispensing of drugs. From the above, it is obvious the
extent to which the government controls the conduct of business and the degree
to which government regulates it affects all the public which a business
enterprise serves.
However,
before one draws a conclusion that these regulations and control are too may
and stringent, we must remind ourselves of their necessity and the fact that
they bring order into the conduct of business and also provide necessary
portion to consumers
before one draws a conclusion that these regulations and control are too may
and stringent, we must remind ourselves of their necessity and the fact that
they bring order into the conduct of business and also provide necessary
portion to consumers