Hello,
I have just opened a preschool as a Franchisee.. I have my own company under sole proprietorship. As I found out from local authorities, I am not required to register my firm not get a license to rum the school. I am required to open a Current account and most banks are refusing because I do not hv a firm registration nor a license. They are asking me to shell out around 5000/- to 6000/- to obtain a Labour License and only after I get that, they will initiate procedures of CurrentAccount. Please help... Are they correct? Why do I need to apply for a labour license? PS: At the moment, I have only 1 teacher employed.
Please do help... I am in a fix and don't want to get conned...
I have just opened a preschool as a Franchisee.. I have my own company under sole proprietorship. As I found out from local authorities, I am not required to register my firm not get a license to rum the school. I am required to open a Current account and most banks are refusing because I do not hv a firm registration nor a license. They are asking me to shell out around 5000/- to 6000/- to obtain a Labour License and only after I get that, they will initiate procedures of CurrentAccount. Please help... Are they correct? Why do I need to apply for a labour license? PS: At the moment, I have only 1 teacher employed.
Please do help... I am in a fix and don't want to get conned...