Understanding Your Responsibilities And Obligations As A Business Owner

Getting a business off the ground is no mean feat. It’s easy to get carried away with marketing and sales strategies and organising a product launch

The truth is that running a business isn’t just about balancing the books and keeping the tills ringing. When you set up a company, you assume responsibilities

Here are some useful tips to help you understand your obligations as a business owner

 

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Taking good care of your employees

The moment you hire your first employee, you take on a raft of responsibilities. As a business owner, you are responsible for ensuring you take the relevant steps to enforce health and safety measures. Treat your employees respectfully and fairly and operate safe, secure workplaces. Make sure you are familiar with the latest health and safety guidelines and policies and familiarise yourself with legal advice related to employee rights. It’s an excellent idea to seek legal advice when drawing up employment contracts and to spend a moment going through the terms with any new members of staff. Work-related accidents and injuries are fairly common. While many are not preventable. If you are found to be negligent, you could face legal action. Carry out regular risk assessments, provide your staff with suitable training and equipment and address any safety issues promptly. 

 

Understanding the importance of compliance

Every business is required to adhere to certain rules and regulations. As a company owner, you should adopt measures to ensure that you understand the importance of compliance and how it applies to your business and the industry in which you operate. For estate agents, for example, it’s crucial to be aware of anti-money laundering compliance. If you run a restaurant, you’ll need to make sure it complies with guidelines set out by health and hygiene authorities. Many business owners, especially those that are in the fledgeling stages of their entrepreneurial career, may not be aware of stipulations. This is why it’s advantageous to seek expert advice. 

 

Providing your customers with a high-quality service

As a customer walking into a store, ordering a product online, turning up a restaurant, a hotel or a bar or arranging for a plumber, an electrician or a gas engineer to visit, you have certain expectations. Business owners should set high standards, deliver on promises and prioritise customer service. If you’re selling products that don’t meet quality standards, or you consistently fail to deliver, you might find that customers complain and that you end up in trouble with the law. Provide staff training, implement policies that enforce good service, use quality control measures and listen to customer feedback to make improvements. 

 

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Picture credit

Running a business isn’t just about attracting customers and taking orders. It’s also about treating your workforce and your clients respectfully. Operating within a legal framework, delivering on promises and making sure you stick to the letter of the law. In business, it’s always better to be safe than sorry. Work with experts to draw up and review policies and procedures and ensure you’re familiar with legislation that is relevant to your company. 

*this is a collaborative post

1 Comment

  1. Happy Hiller
    22/07/2020 / 11:22

    Great read. Thank you for all the work you put in!

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