Laws that you Need to Know When Running a Business

Running a business is tough, and even more so at the moment. As we try to navigate the economic fallout of the pandemic it is a worrying time for business owners. Having a good accountant like Chippendale and Clark accountants Chippenham right now is a great idea, as you will need to keep an eye on spending, and how you can save money for the business.

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As well as this, you don’t want to fall foul of the law or be hit with a whopping fine – here are some of the laws that you may need to know if you didn’t already, where many business owners in the UK slip up – make sure you aren’t one of them!

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Licenses – Depending on the sort of business you run, you will probably need various licenses. If you are serving alcohol, you will need a license for this, but there are also licences that you are required to have if you are serving food, as well as licenses that you may need for software.

Insurance – There are a wide range of insurances required for different types of business – but did you know there is one where many business owners slip up. Employers liability insurance is something that many business owners don’t realise that they need, and it can protect the business from compensation claims that would otherwise bankrupt the company.

 

Risk Assessment – All businesses are required by law to carry out a risk assessment. This means that all the potential hazards to both the employees and anyone else who may be on site have been identified and evaluated, as well as reasonable steps taken to prevent an accident from happening.

 

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