Make Sure that your Small Business is Complying with Legal Requirements
For many people it is a dream to run a business of their own. The appeal of being able to be your own boss, be responsible for your own success and put all of your ideas into place, whilst making money along the way is a huge appeal.
But it can also be incredibly stressful. Particularly during these uncertain times, it can be difficult for small businesses right now and there is a lot to think about. It is important to have a good accountant like Chippendale and Clark accountants Chippenham who can help to balance the books.
The other thing that all business owners should look out for is the law – there are lots of laws that people who set up their own business don’t realise exist or apply to them – here are some of the most common laws that small business owners fall foul of…
Risk Assessment – Many people think this is the sort of thing that is carried out on a building site or a typically more dangerous area of work. But all companies must carry out a risk assessment for both employees and anyone else that may come on site.
Insurance – One type of insurance that every business should have is employer’s liability insurance. It is not just for companies that have employees either. It protects the business from huge compensation claims, and it is an insurance that is required by law in the UK.
Licenses – Have you got all the licenses that you need? If you are serving alcohol or food, then you will certainly need a license for this, as well as if you are using a computer you should ensure that you have the legally licensed software packages.