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Navigating Legal Aspects of Small Business Preparation

Learn how regulations and laws impact small business preparation, from legal status to tax obligations. Understand the complexities and applications of various laws that affect small businesses. 8 Relevant

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Navigating Legal Aspects of Small Business Preparation

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Presentation Transcript

  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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