Running a business of any size, specialising in any field, is going to be a lot of hard work. You’re going to have to focus on everything from product development to manufacturing to market research, marketing, advertising, sales, customer support and everything else that it takes to keep a business up and running. With all of these things to bear in mind, it’s not surprising that many business owners completely forget the really important things underpinning their business. It’s absolutely essential that you remember that there are certain legalities that you need to abide by while operating. Here are some to put at the top of your priority list.
Making Sure You File Your Taxes Properly
Every business that is generating a profit needs to file taxes. This helps to contribute towards necessities in your country, such as police, health services and generally maintaining the country. But all too many businesses fail to file their taxes properly or purposefully don’t file their taxes properly to pay larger sums and evade the full figure that they should be forking out. If you fail to pay your taxes properly and are caught, you will quickly need to find yourself a Criminal Lawyer to keep you out of serious trouble. To avoid this situation in the first place, you can simply play by the law and use the services of an accountant. An accountant is a professional who can figure out how much you owe in taxes and make sure that everything is filed and paid on time. Now, finding the right accountant to take care of your accounts can be difficult. You want someone who is competent, trustworthy and reliable. Here are some things to prioritise in your search.
- Qualifications – in most countries, accountants have to be qualified to deal with your accounts. Seeing as taxes are a legal requirement, your accountant has to be recognised as being able to properly deal with them. So, check recommended qualifications in your geographical location and don’t be hesitant to request to see proof of qualifications from any candidates you’re considering.
- Experience – experience is also extremely important when it comes to finding the right accountant. Sure, accountancy courses will teach them the ins and outs of accounting, but experience will ensure that they can complete the job efficiently and correctly the first time around. Look at reviews. Ask for recommendations. Check out their previous portfolio.
Focusing on Health and Safety
Health and safety is another legally regulated area of any business’ operation. If you have staff working for you on site or in a commercial premises (whether that’s an office type space or a store), you need to prioritise their health and safety by following strict rules, regulations and guidelines. Of course, health and safety isn’t the most exciting of subject areas for you to focus on. But it’s essential. Not just legally, but ethically as well. You don’t want your staff to come into harm’s way while they’re making money for you. If you fail to follow health and safety guidelines, you could also see your company facing a big compensation case that could tarnish your reputation and send you under financially. So, focus on some of the below areas to keep everything running safely and smoothly.
Safety Signs
All businesses require some sort of safety signage. Fire exit signage is one of the essentials. These signs should indicate the nearest fire exits in case of fire. If possible, get ones that are routed up to an independent power source so they can operate in the event of a mains electricity cut out, or at least options that glow in the dark. Another form of safety signage that you should consider are signs that indicate potential hazards in your workplace that cannot be altered. A “mind your head” sign can indicate a low ceiling or beam. A “mind the step” sign can indicate an unexpected step. This will prevent countless accidents and will also prove much cheaper than trying to alter the structure of your commercial premises. Some temporary safety signs that you should invest in are wet floor signs. These can be placed over spills until someone is able to effectively clean them up and until the floor is completely dry. This can prevent further slips and trips. Nowadays, you may also want safety signs pertaining to the coronavirus pandemic. Safety signs can let guests know where to stand, when to sanitise their hands and whether they need to wear face masks or not.
Fire Safety
We’ve already highlighted the importance of fire exit signs, but this isn’t’ where fire safety ends. You should also have other fire safety features in place to protect your staff in case of fire.
- Smoke alarms – every business has smoke alarms in place. They will be able to detect any smoke or sign of fire and alert everyone in the building, prompting evacuation.
- Fire Extinguishers – fire extinguishers are another essential. If a fire does break out, your staff can use them to tackle small fires. Of course, you should encourage your staff to immediately leave in case of a larger blaze. There are a number of types of extinguishers, so make sure you have the ones that are relevant to your business. They include water, AFFF foam, carbon dioxide, ABC powder, water mist, and wet chemicals.
- Fire Curtains – fire curtains or smoke barriers hang from the ceiling, blocking entrances and exits. They can prevent the spread of fire throughout buildings like warehouses.
- Fire Blankets – if your business has a kitchen with ovens and hobs, you may also want to invest in a fire blanket. They’re great for tackling pan fires and other forms of fire.
Of course, there are countless other areas your business has to comply with in order to comply with the law. But those listed above should help to give you a few areas of focus to get started with. Hopefully, they help to keep you on the straight and narrow!