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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.

Every business needs to be aware of its obligations under minimum wage and equal pay laws, as well as recent pensions auto-enrolment changes.

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.

You must comply with legal restrictions on employees' working hours and time off, or risk claims, enforcement action and even prosecution.

The right employment policies are an essential part of effective staff management. Make sure any policy is clear and well communicated to employees.

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.

While sick employees need to be treated fairly, you need to ensure that 'sickness' is not being used as cover for unauthorised absence.

Marketing matters. Marketing drives sales for businesses of all sizes by ensuring that customers think of their brand when they want to buy.

Most pregnant employees are entitled to maternity leave and maternity pay, while new fathers are entitled to paternity leave and paternity pay.

Commercial disputes can prove time-consuming, stressful and expensive, but having robust legal agreements can help to prevent them from occurring.

As well as undermining morale, illegal discrimination can lead to workplace grievances. Employee discrimination is covered by the Equality Act 2010.

Whether your business owns or rents premises, your legal liabilities can be substantial. Commercial property law is complex, but you can avoid common pitfalls.

Home, remote and lone workers are becoming increasingly commonplace. Key issues include communication and how to manage and motivate people remotely.

With information and sound advice, living up to your legal responsibilities to safeguard your employees, customers and visitors need not be difficult or costly.

The right approach to consulting with and providing information to your employees can improve employee motivation and performance.

As information technology continues to evolve, legislation must also change. It affects everything from data protection and online selling to internet policies for employees.

Disciplinary and grievance issues can be a major burden to employers. Putting in place and following the right procedures is essential.

Following the right dismissal and redundancy procedures helps protect your business and minimise the risk of a legal dispute at tribunal.

Intellectual property (IP) isn't solely relevant to larger businesses or those involved in developing innovative new products: all products have IP.

Employment tribunal claims are a worrying prospect for any employer. A tribunal case is a no-win situation – even if the claim is unjustified.

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.

Funding is key for SME growth plans in 2022

23 November 2021

Small business owners across the UK are looking to hire staff and launch new products and services but one in two say they need funding in order to bring their plans to fruition.

The latest quarterly Business Barometer study from Hitachi Capital Business Finance has found that access to finance is going to be key in helping the small business sector to build back and grow in 2022. Its findings show that half of small businesses across the UK (49%) say they need finance to help them fulfil their growth plans for the year ahead.

As some sectors face labour shortages, the study has found that for 30% of small businesses, plans to invest in job creation for skilled labour is dependent on securing finance. This pressure is most pronounced in the manufacturing sector (51%) and IT/ telecoms (34%). Regionally, small businesses in London are most likely to say they need to secure funding before they can move forward with hiring plans (41%).

The poll of 1,211 small business owners has also found that 25% of enterprises say they would struggle to launch new products and services without first securing finance. This comes at a time when businesses have had to look for new ways to rebuild and recover - and for many this has involved diversifying services and product lines. Small businesses in retail (46%), manufacturing (29%) and IT & telecoms (29%) are most likely to say that their plans to innovate and diversify will be held back if they can't get finance.

The Barometer results also highlight the role finance plays in helping small businesses to reach new customers. More than one in five small businesses (24%) say that without access to finance they will not be able to move forward with new marketing and advertising campaigns. More than one in five small businesses (22%) also say they need funding to invest in new vehicles or to move to a better or bigger office location.

The top ten areas where small business owners say they need finance are:

  • Hiring new people (30%);
  • Launching new products and services (25%);
  • Running a marketing/advertising campaign (24%);
  • Investing in new vehicles (22%);
  • Moving to a better location/bigger space (22%);
  • Modernising IT and digital capabilities (19%);
  • Pitching for major new accounts and competing with larger competitors (19%);
  • Investing in new machinery (17%);
  • Launching into new markets within the UK (17%);
  • Improving the company's website and brand (17%).

Joanna Morris, head of insight at Hitachi Capital Business Finance, said: "We are at a critical moment when it comes to supporting the small business community … Over the last three quarters, our Business Barometer study has seen small business confidence rise and stabilise. However, the research clearly shows that small businesses are in need of funding to rebuild after a challenging year. They have already begun to plan and prioritise what resources and investment they will need in order to grow into the beginning of 2022 - and without proper support some may struggle to find their feet again."

Written by Rachel Miller.

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