Unless otherwise provided in this chapter, each individual business or commercial activity within the municipality shall be required to obtain only one license, but shall be required to comply with all applicable regulations contained in this chapter or elsewhere in this code. The license fee required to be paid by an individual business which is subject to two (2) or more licenses in this chapter shall be the largest of those applicable. A business shall be considered to be individual only if it is owned by identical persons or entities, is contained within one single building, and conducts activities which are closely related. (1978 Code)