Retail is the sale of goods or services to the end user by individuals or businesses. Retailers are part of an integrated system called the supply chain. They buy products in large quantities from manufacturers or wholesalers and then sell them in smaller quantities to end consumers.
Types of retail by assortment
Retailers are usually classified according to the type of product:
- Food products — food, drinks, basic groceries
- Goods with a longer service life — white goods, electronics, furniture, sports equipment. Goods that are not consumed quickly and can be used for a longer time
- Goods with a shorter service life or consumables — clothing, footwear and the like. Goods that are consumed once or have a limited period of use (usually up to three years)
7 mandatory documents on the retail premises
To avoid problems with inspection authorities, check whether you have the following documents on the premises:
- A posted decision on working hours
- A posted decision on the method of payment
- A permit from the secretariat for the possession of an illuminated sign
- A permit for the use of a camera on the premises and a notice that the premises are under video surveillance
- A complaints book and the decision on the authorised person for it
- Proof of cash deposits and the trade ledger
- Employment contracts of employees and the lease agreement
Note: in addition to the above, depending on the activity and the municipality, additional approvals may be required (sanitary, technical, fire safety).
Why documentation matters
The absence of just one of the documents listed can result in a fine during inspection. We recommend keeping all originals on the premises and copies in an electronic database for easier retrieval.
Do you need help with documentation or preparing a retail store? Contact Finance Plus.
