You need to declare the nature of your business e.g. if you are in the trading business, then the nature of your business is Trading. If you are running a restaurant, then the nature of your business is Food & Beverage.
The definition of your business (or nature of business) will be shown on the Business Registration License, and it should not consist of more than 60 characters (including space between words).
Actually, nature of business is usually very brief and even vague, such as “Holding”, “Trading” or “Consulting” since, by law, companies are authorized to exercise in any legal business whatever their definition of business is.
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