What Is Meaning of Informal Business?

[shahjagruti16]

Informal businesses
These are businesses that are not generally registered by law though they may have the licenses with them. And people with such businesses they do not follow regulations from the government.
Advantages of informal businesses
 They provide employment to people.
 They are adaptable to any changes (flexible).
 They are easy to start so most people run them on either a full time basis or part time basis.
 They form a basis of initiating new industries.

 

[jitendra05]

Informal businesses
These are businesses that are not generally registered by law though they may have the licenses with them. And people with such businesses they do not follow regulations from the government.
Advantages of informal businesses
 They provide employment to people.
 They are adaptable to any changes (flexible).
 They are easy to start so most people run them on either a full time basis or part time basis.
 They form a basis of initiating new industries.

Hey jagruti, as we know that the informal sector or business represents those employees who are self employed or who work for all those who are self employed. BTW, i am uploading a document where you would find more detailed information.