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Know how different aspects affect preparation for a business

Know how different aspects affect preparation for a business. P2. How regulations and laws for small businesses can affect preparation for business. Today’s Objective. Regulations and laws for small businesses.

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Know how different aspects affect preparation for a business

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  1. Know how different aspects affect preparation for a business P2. How regulations and laws for small businesses can affect preparation for business

  2. Today’s Objective

  3. Regulations and laws for small businesses • All businesses have to abide by the law of the land as well as specific regulations that apply to their type of business • There are thousands of laws, which can be very complex • We can work out which ones apply to a small business based on legal status

  4. Legal Status

  5. When legally starting a business... • The business must inform one or more government bodies about their business at the time it is being started or shortly afetr • HM Revenues and Customs (HMRC) must always be informed because tax is due from profits

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