Laws surrounding business are constantly evolving. Keeping on top of these changing legalities can keep you from accidentally breaking the law and allow you to use such laws to your advantage. Here are just a few ways that you keep your business legally tight.
Get contracts professionally written
It’s important that both staff and clients have some kind of contract to abide by. You can write this yourself, but it may pay to have a professional legal writer rustle one up for you. This will protect you against any possible lawsuits or exploitation that could occur. A legal advisor will be able to tell you what you need in your contracts in order to be fully protected.
Arrange a risk assessment
Health and safety can be a place where a lot of business owners fall short. Hiring a surveyor to carry out a risk assessment of your business could help notify you of any places where you may need to introduce new health and safety laws. This is recommended before you hire staff as this is where you may have to introduce the most of health and safety feature (a well sign-posted fire exit, a first aid kit, special equipment ect.). Lawsuits in this area are becoming more and more common – safeguard your business by not allowing any risks to go unprotected.
Hire a legal advisor
Every business owner can benefit from hiring specialist legal advice from a local solicitor. Such advisors can be useful when dealing with difficult staff or clients or making big business decisions such as renting your first office, taking on your first staff, franchising or selling your business. Legal advisors will be able to tell you the best routes to take to guard your business against lawsuits and criminal behaviour, as well as making the most of legal business limitations.
Get your books checked by an accountant
Having an accountant check your books and help you out with a tax return can be useful. Not only can they prevent you making any costly errors, they can also alert you of any expenses that you should deducting from your tax. Financial law can vary from trade to trade so ensure that you find an accountant or firm that has previously worked in your line of business. Chartered accountants can be useful for ensuring the most professional service as such accountants must pass special screening processes and be educated and trained to a specialist level.
Keep on top of business news
Because laws are always changing, it pays to keep on top of business news that could affect you so that you can adequately prepare for when major changes come in. Laws are coming in soon to enforce compulsory pension schemes and paid overtime. For some small businesses, failing to prepare financially for such changes could be serious. A legal advisor may be able to warn you ahead of such changes, but you can keep yourself up to date by reading business news columns and subscribing to business blogs.