Legal Compliance and Risk Management in Small Business

Small businesses, like all businesses, operate in an increasingly regulated environment. Increasing business regulation is being driven by public desire for greater protection of consumers, workers and the physical environment. These developments are occurring in a rapidly changing and ever-growingly complex society. Being in business, you need to comply with all relevant laws and regulations. Legal compliance avoids regulators imposing penalties and others suing for damages.Legal Compliance and Risk Management in Small Business outlines the necessary steps for small businesses to take in order to avoid breaches of the law. It advises new businesses, firstly, to identify and implement all relevant regulatory requirements. It then delves deeply into the intricacies of contracts, the legally enforceable documents that create rights and obligations. Specific chapters focus on the need to negotiate and arrange contracts applying to work relationships, insurance cover, commercial leasing and other land dealings.Simultaneously, this book recognizes the integral role that risk management plays in ensuring legal compliance. Aspects of risk management include structuring your business, managing daily operating risks, conducting periodic workplace health and safety audits, and arranging appropriate insurance cover.Legal Compliance and Risk Management in Small Business also includes short-answer exercises at the end of sections and quick quizzes at the end of chapters to test your understanding. The book also includes a comprehensive glossary of terms and answers to the quick quizzes.