Legal Obligations of Business.

In this course you will learn about the legal considerations that you will need to take when starting a business. As well as this you will also look into costs and cashflow of a business.

Introduction 

When starting a new business, it is important to understand the legalities which can impact the business. The legalities of setting up a new business can be complex, and it would be beneficial to seek advice from organisations which offer support to business start-ups such as Business Gateway including legal issues surround the business structure, intellectual property, tax & NI and employing staff. 

The implications of getting it wrong can be severe for a business and could result in heavy fines, loss of reputation, prosecution or imprisonment.

There are a number of options available for start-ups when deciding what legal structure to put in place for the business:

• Sole Trader
• Partnership
• Franchise
• Limited company

If the limited company route is chosen, the business must be registered with Companies House.

You will learn 

1. Types of business structure
2. Business functions
3. Legal considerations