Business laws that every entrepreneur should know
February 14, 2020
Are you tired of being employed and you feel like it is time that you start something of your own? Before you do that there are a lot of preparations which are needed when starting a business. One of those preparations is to know what the law says about starting a business. Here are some laws and regulations that we found which might affect your business
This is almost mandatory for each business in every state. Visit your local government to know more about this. You can also check with the business administration website to read more about the licensing required. Aside from a general business license, you might need other business-related licenses and permits depending on the type of business you have. C.C. Concrete found this out the hard way when they first started out. They had a couple of the appropriate licenses but not all and eventually figured it out and had everything squared away.
Labor law is a huge part of business law
This law regulates the minimum wage an employee is supposed to be paid and includes all the overtime rules, and ban on child labor. This is extremely important to have in place in such cities as San Francisco where the cost of living has skyrocketed over the last decade.
Employment opportunity law
This law prevents discrimination of employees by the employer regarding their color, race, background, sex, or religion. It provides equal pay to both men and women and also protects persons with disabilities.
The medical law
This law provides guidelines on what to be followed if an employee has fallen ill or a member of his or her family.
Health and safety law
The law guarantees the employees a good working environment that is free from known health hazards.
At will work act
The majority of states have this kind of law. It states that an employer can end the contract of an employee at any time for a legal reason. Also, an employee is free to abandon the job at any time
Whether your business is operated by an individual or it has employed more than 200 employees, the government says that you must pay taxes. Take your time to review all the taxes that you are supposed to pay so that you don’t find yourself on the wrong side of the law.
Data security laws
If your business requires collecting sensitive information from your customers, the law states that you ought to have a good and sound security plan put in place. This is to ensure that the information is not leaked whatsoever. Again, the law prohibits forcefully collecting information.
The customer is an important part of every single business. Without them your business wouldn’t survive. Often times you might disagree with the customer, but should you always treat them as if they’re right? Even if you think their wrong? Read our article on this for a deeper look.