Mai Chen February 23, 2018
Tips from MYOB
Top legal tips for small businesses
For small businesses, trying to remain compliant with all relevant legal and regulatory requirements to operate legally can be daunting.
Employees need to be paid their minimum entitlements; workplaces must be compliant with health and safety legislation; taxes have to be paid when they fall due; environmental standards should be adhered to; anti-money laundering reporting obligations must be met.This is all just for starters.
For small businesses in specialised industry sectors – there are additional legal requirements over and above these universal legal obligations.
Laws also change, especially when Governments change as has recently happened, so businesses need to continually review the legal landscape to remain compliant.
It can be difficult to know where, or who, to turn to.
The legal services market has become so fragmented – with specialist employment, tax, environment, intellectual property, and public lawyers among others – that finding the right lawyer for the job at hand is no easy task.
So what can small and medium businesses do to ensure that they are compliant and up-to-date with the law in the most cost-effective way?
Seek out free advice
Many Government departments have free newsletters and email alerts which update subscribers on the enactment of new laws, policies and regulations.