What are the Legal Requirements for Starting a Business in SA

In the excitement of starting a new business, business owners often put all their focus and energy on revenue generation and ensuring profitability for their company, and overlook the legal and compliance aspects.

There is, however, a long list of laws and taxes that all businesses need to adhere to. This includes legal issues that owners deal with in the day-to-day running of their business, such as reviewing contracts to protect their business, handling supplier or contractor disputes, internet security breaches, product liability issues, employee theft, tax audits, employee confidentiality concerns, and threats of customer lawsuits.

You can get advice from industry experts via the SME Advice website. More info about the solutions here.

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How Can I Handle Legal Contracts in My Business

Attorney and CEO of Britain Renecke, a boutique corporate commercial law firm, Cézanne Britain, outlines all the fundamentals of contracts that every entrepreneur should know.

Understanding contracts is a critical skill for any entrepreneur to have, especially if they are starting in business. By the same token, it’s also vital that the more established entrepreneurs hone their skills, the older – and more complicated – their business becomes.

Whether the entrepreneur is a ‘new’ business owner or one with many years of experience, contracts should be one of the most fundamental pillars of their day-to-day running. The reason for this is that contracts, either written or oral, not only govern the relationship between parties at various stages of the relationship, but they also provide a degree of protection should things not go according to plan.