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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.

Pension reforms spark rise in silver start-ups

24 April 2015

Pension reforms spark rise in silver start-upsOver half a million over-55s might take advantage of new pension freedoms to start a new business.

A survey by AXA Wealth polled 1,500 UK residents aged over 55 and found that that 10% of the UK's over-55s who are due to retire in the next 18 months are considering drawing down on their pension pots to start a small business or go into consultancy.

It means that over a half a million late-life entrepreneurs could potentially set up in business in the next few years. Of those, almost half said they intended to use their 25% tax-free lump sum to fund their start-up.

In addition to creating a start-up business or going into consultancy, almost 9% are thinking about investing in a franchise using some of their pension pot.

However, AXA's study polled 1,500 ABC1 UK residents aged 55 and over who had previously expressed an interest in business management, which makes the result less surprising. The average value of their pension pots was £550,000.

The top three reasons for starting a new business with released pension funds were:

  • Realising a lifelong dream to be a business owner (cited as the top motivation by 35%);
  • Monetising a hobby (cited by 25%);
  • Using professional skills and experience in order to supplement pension income (19%).

The top ten sectors most likely to see a surge in silver start-ups are: Healthcare; travel and transport; professional services such as accountancy; manufacturing and utilities; IT, telecoms and digital; education; HR; arts and culture; retail and catering; and legal services.

Adrian Lowcock, head of investing at AXA Wealth, said: "We're seeing a revolution when it comes to retirement spending. The widespread concern that pensioners will blow their whole pension on a supercar feels exaggerated. Instead we are seeing a diverse approach; with the over 55s taking to the freedom and opportunities created by the pension reforms."

He added: "But with more choice and freedom inevitably comes more risk … anyone considering investing in a small business needs to consider what the loss of their investment and retirement income would have on the quality of their retirement."

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