Legal Compliance and Risk Management in Small Business

Being in business, you need to comply with all relevant laws and regulations to avoid regulators imposing penalties and others suing for damages.

Legal Compliance and Risk Management in Small Business, Second Edition outlines the necessary steps for small businesses to take in order to prevent breaches of the law. It enables new businesses, firstly, to identify and implement all relevant regulatory requirements. It then delves into the intricacies of contracts, the legally enforceable agreements that create rights and obligations. Specific chapters focus on the need to negotiate and arrange contracts applying to work relationships, insurance cover, commercial leasing, and other land dealings. It concludes by covering ongoing business compliance with legislative requirements relating to consumer protection, work health and safety, taxation procedures and business records.

Simultaneously, this book recognizes the integral role that risk management plays in ensuring legal compliance. Aspects of risk management include structuring your business, managing daily operating risks, conducting periodic workplace health and safety audits, and arranging appropriate insurance cover.

Legal Compliance and Risk Management in Small Business also includes short-answer exercises at the end of sections and quick quizzes at the end of chapters to test your understanding. The book also includes a comprehensive glossary of terms and answers to the quick quizzes.