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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.

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.

What's standing in the way of business success?

20 August 2019

Three businessmen attempting to climb the wallNew research has found that legislation and economic climate are the biggest obstacles facing UK businesses that are looking to grow.

Safestore has polled UK business owners in order to find their biggest concerns, their most important goals and what they believe to be the top reasons for a business failing. The research focuses on eight major sectors - agriculture, construction, health and social, hospitality, manufacturing, real estate, transport and storage and wholesale and retail.

According to PwC, the UK has seen an average of over 5,600 businesses close yearly since 2013, nearly 30% higher than the number of openings every year. It means that ten business close for every seven that start up.

The results of the Safestore poll show that the biggest issues facing UK businesses today are legislation, economic climate, cashflow, staff and access to finance.

When it comes to company failure, however, the most common factors lie closer to home, it seems. The poll found that 35% of business owners believe the wrong business model is the most common reason for a business failure, followed by lack of business development (28%), running out of cash (21%), poor product or market fit (18%) and bad organisation (14%). In addition, 11% of those surveyed said that "more able competitors" were to blame for a company's demise.

Over half (53%) of business owners polled said that growth is their number one goal. Nearly a third said their primary objectives are related to IT (32%) or the structure of their company (31%). Finance was found to be a priority for 23% of those polled and only 12% said they prioritise cost management.

Written by Rachel Miller.

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