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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.

Overseas customers - getting paid

Selling to overseas customers can be good for growth, but many businesses are put off by serious fears they will end up with bad debts. Taking the right precautions can reduce the risks

Use Incoterms to protect your business

It's key to use the right terms in your contracts in the first place. If you are exporting, trade using Incoterms - the internationally recognised standard trading terms. By using the right Incoterm, you minimise the risk of any ambiguity in your contract.

Even so, local laws may mean that some Incoterms are not fully effective and confusion can arise. A lawyer with expertise in foreign trade can advise you on the detailed requirements of each Incoterm in relation to exports to your target country.

Export payment options

There are several payment options you can use depending on the nature and size of your deal. You can:

  • Ask for payment upfront. This removes the risk of non-payment but your customer must be prepared to take the risk of non-delivery or goods damaged in transit. Most customers will not agree to take this risk.
  • Sell on open account, as you do here. You should investigate how long local payment periods are, non-payment risk for that country and the creditworthiness of individual customers. In some countries, payment periods can be significantly longer than is normal in the UK, leaving you with a potential cash flow problem.
  • Use a letter of credit or a bill of exchange. While there are several variations on this theme, these generally reduce your risk and can also improve your cash flow, but will involve bank charges.


When selling to overseas customers, consider export insurance. If you are exporting capital, goods or services, you may be eligible for cover from UK Export Finance. Find out more about UK Export Finance products and services.

You can use credit financing to ensure you get paid as soon as the contract is delivered. A line of credit can cover a series of contracts, rather than just one.

Other options include arranging insurance privately through an insurance broker, or using a bank or trade finance specialist to both finance your exports and cover you against late payment or default.

Exchange rate risk

Take steps to protect yourself against exchange rate risk. Typically, this might be by agreeing the contract in pounds sterling or by arranging a currency 'hedge' (or possibly a currency option) with your bank.

Monitoring debtors

Once you have started trading, keep an eye on your debtors. Immediately query any deviation from normal trading patterns (eg order levels, delivery, settlement, etc). Consider monitoring filings at public registries in countries where your debtors are registered for signs they are in trouble.

If in doubt, take legal advice.

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