The Law

There are many different aspects of the law that need to be considered before starting up a new business. Compliance is essential as breaches of the law can result in long and costly legal battles. The major laws to be considered when starting a new business are:-

Company law - If you incorporate your new business then you have statutory obligations under the Companies Acts. There are many areas to consider, and non-compliance can result in fines and penalties, disqualification from being able to act as a director or even imprisonment.

Employment law - If you employ staff you need to comply with all current employment law. The minimum wage, the working time directive, employer's annual returns, rights and obligations of staff all fall within this area.

Consumer law - Do you know what rights your customers have and what they can legally expect from you? The sale of goods act and contract law are important areas to consider.

Health and safety - Anybody who trades has legal obligations to ensure the safety and security of all personnel working for them or using their products or services.

The law can be a minefield, but likewise it is there to protect you. Seeking good advice in relation to laws applicable to your business is essential.

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