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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.

Small firms face consumer spending downturn

27 September 2022

New research suggests that almost half of British consumers are unable to maintain their current lifestyle due to the rising cost of living and many are changing brands and making cut-backs as a result.

A new poll conducted by SurveyMonkey for Momentive has found that 74% of UK consumers say that inflation will have a major impact on their personal spending and 49% don't feel confident they will be able to sustain their lifestyle amidst soaring energy costs and inflation.

The findings also show that 88% of Brits are looking to switch to lower-cost generic products and away from brand names in order to cut costs. In fact, 32% of those polled described themselves as "thrifty" and a further 11% said they were "penny pinchers".

Eating out is taking a hit, with 49% of Brits saying that they are cutting back on dining at restaurants; 86% of consumers also say they now prioritise lower cost items when it comes to shopping.

Priyanka Carr, coo of Momentive (maker of SurveyMonkey), said: "Our research shows a distinct change in consumer spending habits as a result of ongoing economic uncertainty and rising costs. Consumers are really struggling at this time to even put food on tables and therefore pivoting pricing strategies and increasing offers will be crucial [for businesses] not only for ongoing success but to remain relevant."

These findings are supported by the latest research conducted by Ello Group, which has found that 40% of UK shoppers have had to scale back their spending and 17% have already switched supermarkets to save on rising food prices. The findings also show that 41% of consumers are spending less on out-of-home experiences, such as eating out, and 24% have cancelled subscriptions.

Michael Kalli, managing director of Ello, said: "We know rising costs are impacting brand loyalty and some consumers feel they have no option but to shop around as their disposable incomes get squeezed even tighter … Consumers have been left with no choice but to scale back where they're spending their hard-earned cash - and in some cases switch from the brands they know and love.

"All in all, it's essential brands showcase they understand the wants and needs of their customers if they want to maintain meaningful connections with them, particularly in the current landscape."

In a double whammy for small businesses, it seems that employee mental health is also becoming a more worrying issue. The 2022 UK SME Risk Report, published this week by Marsh, has found that 49% of SMEs say that employee mental health and wellbeing is a key risk, up from 30% in 2021 when COVID-related risks were dominant.

Written by Rachel Miller.

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