And Let's Not Forget Red Tape!

Most people naturally loathe any form of Red Tape, but unfortunately it is a fact of life. But more so for the new business or expanding business.

As they say ignorance [of the law(s)] is no excuse.

So where do you start?

These days the number of governmental, local authority and quasi-governmental organisations you have to be aware of to avoid a fine [or tax as I like to call it] is frankly alarming. The number of "I'm here to help you" institutions is an absolute minefield to the uninitiated, let alone the reckless entrepreneur who has the idea to start or expand a business!!

So, the only route to realistically take is to comply as efficiently as you can. The alternative can only jeopardise your new enterprise with fines or even shutting you down.

The key areas in a logical sequence [for me anyway] are;

• Legal organisational structure, including juristriction if some foreign dealings likely;
• Notification of tax and national insurance offices;
• Business Banking & Merchant Accounts [money laundering regulations has made this quite lengthy];
• Data Protection Laws [especially if dealing with personal client information];
• Legal Terms of sales, product claims/adverts/web site, employment contracts, partner/shareholder protection, trade marks/copyright/patent/trading name searches;
• Import and/or Export Licenses applicable to your trade/product
• Licensing Authorities relevant to your trade, profession, or such like[Joining fees, annual fees and application and assessment processes];
• Other licensing requirements such as insurances, guarantees [as above];
• Fire Safety regulations and approvals;
• Liability, Employment and Product Insurances;
• Premises, Planning Permissions, Insurances, Leases, Mortgages [if buying];
• Security Issues, premises, area, alarm systems, employee's property and safety;
• Local Business Taxes on property and usage if you alter the property;
• Workplace Regulation for staff, workforce, visitors and the public;
• Environmental Impacts from noise, process, heating, lighting, power [carbon taxes]!

Actually I'm starting to get depressed now as well!

This is only a brief list, as in your specific field there maybe even more to consider. The best course of action is to conduct a business research review at the earliest opportunity with an experienced Business Consultant, Business Adviser, or locally our Business Yorkshire Group

Together you will be able to cover all the steps needed to get you "flying".

Now all you have to do is get those sales!