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Laws applicable to new businesses
Staying legal is important. A slip up in the early stages can kill
a fledgling company. With a minimal effort you can put your mind
at ease. Usually there is no need to involve solicitors. We cover
most of the points you need to think about here.
BUSINESS INSURANCE
Limited companies are legally obliged to operate with Employer's Liability
insurance. Since it's generally a good idea for any business to have some
formal insurance this need not be too financially painful. Many types of service
business need public liability insurance. If vehicles are involved in your
business then obviously business use insurance is required for those, otherwise you
could be charged with Driving Without Insurance.
PROFESSIONAL CERTIFICATIONS AND QUALIFICATIONS
Plumbers are required to be CORGI registered if they deal with gas installations.
Electricians are required to have NICEIC approval to work in domestic environments.
Just two examples, but legally very important. If your business is covered by a
similar accreditation or qualification, it would be very irresponsible to operate
(even just for a short time) without it.
EMPLOYMENT LAW
If you're planning to employ any number of people even if they are family or friends
you need to look into the legal aspects of doing this. You can get into serious trouble if you
end up at employment tribunal. This can not only damage a business financially, but also in reputation.
From a "wasted time" perspective, employment problems are also damaging.
Solicitors specialising in Employment Law are generally expensive, and more often than not
unnecessary. Most issues of employment are best fixed before they are broken, and the simplest
way of avoiding running into difficulties later on is to know your subject.
Buy some employment law books, read, and digest their contents.
Click for books on Employment Law
FINANCIAL AND COMPANY LAWS
Some individuals are disqualified from being company directors. If you are
planning on bringing in external management or someone with whom you
are unfamiliar, check that their name is not on this list (can be done by Companies House).
DATA PROTECTION REGISTRATION - (SCAM)
Not all businesses actually require DPR. A very popular "scam" involves fradster
companies writing to small businesses on official looking stationery, and threatening
prosecution unless they register for Data Protection. They generally mislead over
who is and who is not required to register, and they generally charge far more
than it would cost to register directly with the DPR. Having said that, as a rule of
thumb, if your business does deal with personal details of customers or potential
customers, you may need to be registred. You can decide whether you should be registered
or not by answering a few simple questions at The Information Commissioner's website.
COPYRIGHT LICENSING
Planning to have music-on-hold for your callers? Or do you want to play music to customers
in a shop? Both require licensing. You should contact the PRS (Performing Rights Society)
and/or PPL (Phonographic Performance Limited) for details on obtaining the relevant permissions.
Those, obviously, cost money.
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