Essential business law and legal advice for businesses new and old
Owning and operating a business of your own can be a highly rewarding endeavour if done properly, but the underpinnings of a successful firm can be extremely hard work to get right. One of the trickiest and most time-consuming aspects of running a company, no matter how small, is the legal side of it – but if you want your business to thrive, it’s imperative that you keep up with the latest regulations and follow the law to the letter.
Starting a business
Your business will run more smoothly if you start as you mean to go on, and a large part of this is ensuring that you understand what you’re getting yourself into as regards the legal side of things. Your first big choice will be whether you wish to run your business as a sole trader, with fewer regulatory restrictions but a greater risk to your assets, operate in a partnership, which is in practice similar to sole trading but with many people sharing the burden, or enshrine your undertaking in law as a limited company, which forces you to abide by certain rules and regulations but also grants you a greater degree of protection should disaster strike. Whatever you decide, make sure you plan well before starting a business.
It will also be necessary to choose the right name for your business, as well as having it approved by the Companies House Register if this is required, and make sure that you know about any relevant laws that affect your trade. It might also be necessary to set down the terms and conditions under which you trade with other people.
Looking after your employees
Should your company take root and flourish, you might end up with employees working beneath you to complete various tasks. If this is the case, it’s important to be aware at all times that you are considered responsible for their welfare and safety in the workplace and you must ensure that you are operating within the law. You’ll need to think about issues like health and safety, fair employee treatment and the requirements in place regarding their wages.
Whether you arrange the payment of business taxes yourself or hire an expert to deal with it for you, ultimately the responsibility of ensuring that it is done properly is yours. Your business and reputation are reliant on you paying the appropriate amount, so don’t take it lightly.
If you are looking for assistance with any aspect of operating a business, our Find a Solicitor service is the perfect remedy – we can help you find the legal expert you require.
Share your experiences
Please note: The views expressed in community areas of this site do not necessarily reflect or represent the views of Law on the Web, its owners, its staff or contributors.
Contracts are central to the operation of any business, and as a company director it's imperative to ensure that everything is shipshape.Find out more
Either acquiring another business or selling one on can be a protracted legal process. Our legal advice gives you the lowdown.Find out more
Often legal action is required when a dispute arises in the commercial arena. These can be between business and their customers, employees or competing companies.Find out more
To give your brainchild the best chance of becoming a successful business you will have to ensure you do all the right groundwork before you get going. Read our guide.Find out more
All businesses need a place in which to base their operations. Find out about the laws governing commercial property and how they affect you.Find out more