It is often difficult for a Business Owner, who wishes to trade with a Foreign Business, to find the reliability of that Foreign Business. We are proposing a new model National Trade Registry (NTR), which will hold the details of the businesses in every country across the globe. The Business owners have to register their Business details in the National Trade Registry (NTR). They have to submit their Bank Statements and Tax receipts for a specific period, along with other details. Their Foreign Businesses which do business with them, by looking in the NTR, will endorse the Businesses in the NTR. This is strictly a forum for International Trade across Nations. Only a Foreign country's Business Owner can view the Business details of another country. No viewership or endorsements are allowed between the same country's Businesses.
National Trade Registry (NTR) Details
NTR will have a page dedicated to every Business that wants to register their details in NTR for a fee (Monthly or Half-yearly). This page will be seen across the globe because NTR is an International Registry. Any member of the NTR Registry can view the business in any country if they have themselves registered with NTR. It is always recommended that you do business only with NTR-registered businesses to be sure that it is reliable. NTR will always show the headquarters and origin of the Business, even though one can do Business in any country through their subsidiaries.
Self Introduction
This Page will be dedicated to the Businesses. They can describe their work and the Business they do. What is their niche area, and advantage in doing business with them? They can describe the awards and recognition they got. The certificates they received like Quality Control and even describe how they are reliable. They can describe these things in Text, Picture, Audio, and Video formats.
Certificates and Awards
In this area, they can only show Certificates and Awards recognized by the NTR. There will be a drop-down menu, you can only choose from the options shown. You have to submit your Serial Number or Registration Number of the Awards and Certificates, It will be verified by NTR and shown to the members. These certificates are either provided by reliable government authorities like ISO or are certified by well-established private organizations. Small Business Consultancy (I proposed) Certificate will also be there for new businesses. Only those Certificates and Awards will be shown in options to choose from.
Related Read - Small Business Consultancy
https://economicsbydeepak.blogspot.com/2023/10/consultancy-for-small-businesses.html
Tax Receipts
In every country, the members of NTR should show the Tax Receipt they paid to the Government. The period of tax receipt, to disclose to the members can be anything, with compulsory disclosure of last financial year's receipt. This Tax Receipt for any mentioned period should be pre-approved by the Business Owner, to show them to the members. Except for last year's Tax receipt disclosure, which is compulsory. These Tax Receipts are not uploaded by the Business Owner. It is got directly from the Tax Department's APIs. So, you can't put whatever amount you fathom. In India, there is a GST Number, which will be used to find the tax you paid. Tax Receipt is the most reliable source, by which one can find whether a business is authentic or a bogus and fraud company.
Fee for Tax Receipts and Viewership Permission
The Business Owner who wishes to show his Tax Receipt (other than the Compulsory last year's Tax Receipt), has to pay a fee for every 100 views. It can be both ways, either the Business Owner can himself pay for the view, or the Foreign Business can pay to view his Tax Receipt. A Business Owner, who wants to protect his Company's statement, from being viewed by everyone, can put restrictions. He can allow only the foreign NTR members, he authorizes to view his Page. He can even allow only companies which are mid-sized foreign companies, to view his page, by calculating the Tax they paid. If they paid high taxes, it is a mid-sized company. Less Tax means it is a micro or small-sized company. No matter what, If an NTR page of a company is viewed, compulsory last year's Tax Receipt will be shown. The remaining year's Tax Receipts are his choice to show or not.
Bank Statement
The Business Owner may wish to show his Bank Statements to the Foreign Businesses, to showcase the volume and business, he is doing in his country. This is also a measure, by which we can show money is indeed in circulation and business is doing well. This should also be pre-approved by the Business owner, who wishes to exhibit his Bank Statements. He can show Bank statements to anyone he wishes and for the period of time he wishes. This will also be taken from Bank API for a fee. Fee can be paid either way, by Business owner or Foreign Business. But the statements that are pre-approved by the Business Owner will be shown, no matter who pays.
Privacy of Business Owners
It is advisable only to disclose the Business Name, Address, Contact Number, and Email ID of Businesses. Do not disclose the name of the person, who owns the company or his personal details. It is advised not to disclose it even on the NTR Business Page. It is also advised to register your Business with a Business Name and hold a GST Number (In India). Keep Bank Accounts in the Company's Name, not in your name.
Categorizing Companies
We can segregate the Companies, based on the Tax Paid to Micro, Small, or Mid-sized Companies. There is no restriction for any Company to participate in this NTR Registry. Well-established companies may not have the necessity to participate here. We will also segregate companies based on the type of Business they do like Garment Companies, Footwear Companies, Stationary Suppliers and the list goes on. It will be convenient for the members, to find which company, they want to trade with.
Endorsements
Endorsements will be shown on every Business page in NTR. These endorsements are given by Foreign Business Owners who did Business with them using the NTR Registry. The credibility of Endorsement will increase with the category of Business they do like mid-sized or Large Companies will have more credibility. Also, if the Foreign Endorsing Company itself has received many endorsements, its credibility increases. An Endorsement Score will be calculated based on these things and shown on the Company's NTR Page.
Chat in your own language with the help of AI
NTR Registry will help Small Business Owners to interact with other Foreign Countries Business Owners in their own language with the help of Artificial Intelligence. A Business Owner can talk in any language (Like Hindi in India) which will be translated to a Foreign Owner's language (Like Mandarin in China) and vice versa. The conversation will be like you are talking with the other person in your own language. These conversations can be recorded if any NTR member party wishes for future reference. AI can even summarize them in text or audio format for your convenience.
Logistic Companies
International Trade can be done with the help of Logistic Companies, which will deliver your products, to the destination at ease in a safe and secure manner. These Companies should register themselves in the NTR. The credibility of these Logistic Companies will be determined by NTR officials and only those Logistic Companies will be allowed to register in NTR. Price and other details can be negotiated between Logistic Companies and the Business Owners.
National Policies will be taken into Account
National Policies will be taken into Account. For example, if America allows only Chinese Joint Venture Companies to trade with them, Only those JV Companies' pages can be viewed by American Businesses. But all Other Countries, that don't have such restrictions can view all the Chinese Companies NTR Pages.
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