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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.

UK entrepreneurs rethink their business banking

7 May 2025

Three-quarters of UK entrepreneurs rethink their business banking needs amid digital and financial shifts

New research from the Current Account Switch Service reveals that almost three quarters (73%) of the UK’s small business owners would consider switching to a new business bank account if it better suited their needs – with lower fees (50%), switching incentives (34%), and improved interest rates (31%) cited as top motivators. 

This openness to switching is particularly pronounced among younger entrepreneurs (aged 18–24), 84% of whom say they would consider changing their current account – reflecting a new generation who are more digitally savvy and open to change. 

Despite their growing importance, nearly one in three (29%) small business owners still rely on personal current accounts to manage their business finances, limiting access to essential features such as accounting software integration, tailored advice, and structured support. 

The research also highlights the key features SMEs value most in a business current account: 

  • Mobile banking leads, with 54% rating it a top feature – particularly among older SMEs and those based in rural areas. 
  • Fee-free banking (44%) and high-quality customer service (37%) remain top priorities. 
  • Integration with accounting software is important to nearly two-thirds (65%) of SMEs – especially younger founders and digital-first businesses.

And while digital tools are increasingly vital, physical access still matters: 57% of SMEs say access to a local branch remains important, particularly in Northern Ireland and among larger businesses.

Small and medium-sized enterprises (SMEs) are the backbone of the UK economy, making up 99.8% of all businesses and employing over 16 million people. Yet access to financial services remains a challenge.  

In 2023 alone, 140,000 businesses were "debanked", and loan approval rates have dropped to below 50% in 2025 – intensifying the pressure on SMEs to find financial services that better suit their evolving needs.  

Whether it’s access to better digital tools, fairer fees, or improved service, the Current Account Switch Service makes it easy for SMEs to switch to a banking partner that better suits their needs.  

“Using the right account structure is vital – not just for staying on top of business finances, but for unlocking the full potential of banking tools designed to support SMEs. As with a personal account, your business current account should support your financial goals.

“With small businesses across the UK looking to the future, many owners don’t realise how much easier their financial admin could be with the right support. As we mark the beginning of a new financial year, now is an ideal time to consider whether your business banking is still working for you.” John Dentry, Product Owner at the Current Account Switch Service

Made possible by MPH Group for the Current Account Switch Service.

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