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Setting up a business involves complying with a range of legal requirements. Find out which ones apply to you and your new enterprise.

What particular regulations do specific types of business (such as a hotel, or a printer, or a taxi firm) need to follow? We explain some of the key legal issues to consider for 200 types of business.

While poor governance can bring serious legal consequences, the law can also protect business owners and managers and help to prevent conflict.

Whether you want to raise finance, join forces with someone else, buy or sell a business, it pays to be aware of the legal implications.

From pay, hours and time off to discipline, grievance and hiring and firing employees, find out about your legal responsibilities as an employer.

Marketing matters. Marketing drives sales for businesses of all sizes by ensuring that customers think of their brand when they want to buy.

Commercial disputes can prove time-consuming, stressful and expensive, but having robust legal agreements can help to prevent them from occurring.

Whether your business owns or rents premises, your legal liabilities can be substantial. Commercial property law is complex, but you can avoid common pitfalls.

With information and sound advice, living up to your legal responsibilities to safeguard your employees, customers and visitors need not be difficult or costly.

As information technology continues to evolve, legislation must also change. It affects everything from data protection and online selling to internet policies for employees.

Intellectual property (IP) isn't solely relevant to larger businesses or those involved in developing innovative new products: all products have IP.

Knowing how and when you plan to sell or relinquish control of your business can help you to make better decisions and achieve the best possible outcome.

From bereavement, wills, inheritance, separation and divorce to selling a house, personal injury and traffic offences, learn more about your personal legal rights.

How to create a healthy workplace environment

The success of a business is directly linked to the workplace environment. If your team feels inspired to work every day and everyone prioritises collaboration, it's a sign that you have a healthy workplace environment. At the end of the day, your employees should feel good about their work. Unfortunately, many workplaces are, taking a toll on employees' physical and mental health. Some organisational cultures normalise a lack of boundaries at work – in other words, workers' duties come before anything else, which can often lead to exhaustion and burnout.

Companies with a healthy work environment know that their employees are their best asset. They put the well-being of their people at the forefront. But what are the elements of a healthy workplace? Find out by reading our blog.

Effective communication

Clear and open communication is essential in all life situations. This also applies to business. When all members within an organisation can communicate effectively, the workflow improves, and employee morale increases, too. Employees feel valued when they have the chance to ask questions and get constructive feedback.

Suppose they are working on a new project and need to brainstorm ideas; they can ask other members of the team questions, helping them improve their quality of work. This benefits the company in the long run. Good communication leads to better engagement and collaboration, enhanced motivation, and improved productivity, which are essential ingredients for business success.

Safety

Employees can't do their best at work if they don't feel safe at work. This is especially important in sectors that are naturally more hazardous. So, provide adequate personal protective equipment for your staff, and ensure you have effective safety and emergency procedures in place. Given the alarming statistics regarding occupational accidents, creating a culture of safety should be a top priority for all organisations.

According to experts from Howmuchcompensation.co.uk, employees are entitled to compensation if they have been injured at work. You don't want to breach your duty of care towards your employees and face the inevitable consequences. Fortunately, you can reduce the absenteeism and expense associated with workplace accidents by ensuring that employees are working under the best conditions and aren't at risk of being harmed in any way.

Equality and inclusion

Building inclusive workplaces is key towards a world where all employees can thrive. A company that embraces diversity and equality can benefit from individuals with unique skills, experiences and backgrounds that can drive innovation and growth. Moreover, employees will likely be loyal if they feel included and valued, improving their engagement levels.

Having an inclusive company also results in more options when sourcing new talent. You can highlight the importance of recruiting people based on genuine criteria, helping get more qualified people on board. Another advantage of a diverse workforce is that you get the opportunity to understand your customers better, thus improving your company's sales and revenue.

Work-life balance

After the COVID-19 pandemic, employees' perceptions of work shifted considerably, with more people realising the importance of striking a balance between work and personal life. As a result, companies should prioritise work-life balance, allowing employees to find a happy balance. Encourage employees to take frequent breaks and make schedules flexible so that they can attend to personal needs as well. Evaluate the time-off policies in your company and make sure to include paid sick leave, medical leave, paid parental leave, and so on.

You should also incentivise your team members to use holiday leave. Often, overworked employees put off taking leave because they fear there will be a mountain of work when they return or believe no one can handle their tasks while they're away. However, it's important to remind them that they need to recharge – this is required to regain energy and creativity, ultimately leading to better productivity.

Growth opportunities

Most individuals dream of climbing the ladder and building a career path for themselves. If they can't do this within your organisation, they will likely look elsewhere. This is why it is crucial to provide opportunities for them to grow professionally by offering quality training and mentoring. Fostering pathways for career development can also keep employees motivated, resulting in increased productivity, reducing employee turnover and helping your business remain competitive in the market.

In-house career advancement helps keep employees happy and committed to an organisation for as long as possible. And unsurprisingly, this will also keep your revenue flowing because you will spend less of your company's money constantly having to fill .

An emphasis on mental health

Work significantly impacts your mental health, giving you a sense of purpose and providing a social outlet. A hostile workplace environment can affect your emotional health considerably, leading to issues like depression, anxiety and even substance abuse. But your mental health also impacts your productivity levels at work. This means it is crucial that companies review their initiatives and check in with their employees to ensure that their mental health is not being adversely affected by work.

While it's true that work performance matters to ensure a business' success, it's essential to show compassion and kindness to your team members. Remember: you never really know how hard it may be for them to show up to work on a particular day. Make sure you offer mental health benefits and resources so tat they are better able to deal with an issue. Schedule mental health days to help remove the stigma and encourage them to manage stress by promoting mindfulness, healthy eating, and setting realistic targets.

The bottom line

If you're looking for the recipe for business success, the six 'ingredients' above can help ensure the well-being of your employees and your business remains profitable. It's essential to take proactive steps to ensure your employees have all the resources they need to deliver the best results, and putting their wellness at the forefront will help your company flourish.

Copyright 2023. This article was made possible by supporter GETX Local Company.

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