99237273
James Tilley
Unit 36 – P4
Describe the legal and fnancial aspects that will afect the start-up of
a business.
In this assignment, I will describe the legal and fnancial aspects that will afect the start-up of my
business.
Legal aspects which will afect the start-up of a business:
Before startng the business, there are several laws which must be complied with which afect both
the start-up as well as the day to day running of the business. Therefore, I will be aware of the
legislaton which will apply to my business so I can comply with them to the best of my ability and
avoid the consequences of breaking these laws, such as facing a fne.
One law which must be complied with is the Data Protecton ct 1998. This act deals with the
correct ways to collect data, the amount of data to collect, how to use the data and how to dispose
of the data afer the usage has been fulflled. I must comply with this data by keeping employee’s
informaton secure, as well as the informaton of customers.
To make sure this is complied with, I must only collect relevant informaton to the nature of their
employment, securing the informaton held confdentally as well as not holding the informaton for
longer than necessary by law. If the Data Protecton ct was breached, there would be a fne, as well
as a damage to the reputaton of the business, which could result in the business being closed.
While the worker is being selected, the must be no discriminaton between workers on the ground
of gender, race or whether they have a disability. These rules are set out in the Sex Discriminaton
ct 1975, the Race Relatons ct 1976 and 2000 and the Disability Discriminaton ct 1995. These
were all merged into a single act called the Equality ct 2010
fer the worker has been employed, the business must also follow the aatonal Minimum Wages
ct 1998, which states the minimum wage across the UK for diferent ages of workers, which is
currently £7.50 per hour for workers over the age of 25 years old. It is important to follow this law
because if an employee complains about not receiving minimum wage, there will be another fne
and the company will have to repay any wages which the worker should have been eligible for, and
as the business is a partnership, I would be directly liable for the wages.
In additon to that, it is important to also follow the 2000 Employment ct, which outlines the rights
to leave and pay, including paternity and adopton leave, maternity leave, tribunal reform, and
dispute resoluton. This outlines the rights of workers who may need tme of, and how much they
are allocated to other than their 28 days of per year.
To begin trading, the business must write up terms and conditons to make sure the owners of the
business have protecton and rights to the goods. In additon to this, a licence must be gained to
allow sales of certain products to the populaton. This includes food, as well as alcohol. The locaton
will also be subject to checks by the council and government to make sure the working conditons
are adequate for the workers and make sure that the business is complying with all regulaton which
it should be complying with.
James Tilley
Unit 36 – P4
Describe the legal and fnancial aspects that will afect the start-up of
a business.
In this assignment, I will describe the legal and fnancial aspects that will afect the start-up of my
business.
Legal aspects which will afect the start-up of a business:
Before startng the business, there are several laws which must be complied with which afect both
the start-up as well as the day to day running of the business. Therefore, I will be aware of the
legislaton which will apply to my business so I can comply with them to the best of my ability and
avoid the consequences of breaking these laws, such as facing a fne.
One law which must be complied with is the Data Protecton ct 1998. This act deals with the
correct ways to collect data, the amount of data to collect, how to use the data and how to dispose
of the data afer the usage has been fulflled. I must comply with this data by keeping employee’s
informaton secure, as well as the informaton of customers.
To make sure this is complied with, I must only collect relevant informaton to the nature of their
employment, securing the informaton held confdentally as well as not holding the informaton for
longer than necessary by law. If the Data Protecton ct was breached, there would be a fne, as well
as a damage to the reputaton of the business, which could result in the business being closed.
While the worker is being selected, the must be no discriminaton between workers on the ground
of gender, race or whether they have a disability. These rules are set out in the Sex Discriminaton
ct 1975, the Race Relatons ct 1976 and 2000 and the Disability Discriminaton ct 1995. These
were all merged into a single act called the Equality ct 2010
fer the worker has been employed, the business must also follow the aatonal Minimum Wages
ct 1998, which states the minimum wage across the UK for diferent ages of workers, which is
currently £7.50 per hour for workers over the age of 25 years old. It is important to follow this law
because if an employee complains about not receiving minimum wage, there will be another fne
and the company will have to repay any wages which the worker should have been eligible for, and
as the business is a partnership, I would be directly liable for the wages.
In additon to that, it is important to also follow the 2000 Employment ct, which outlines the rights
to leave and pay, including paternity and adopton leave, maternity leave, tribunal reform, and
dispute resoluton. This outlines the rights of workers who may need tme of, and how much they
are allocated to other than their 28 days of per year.
To begin trading, the business must write up terms and conditons to make sure the owners of the
business have protecton and rights to the goods. In additon to this, a licence must be gained to
allow sales of certain products to the populaton. This includes food, as well as alcohol. The locaton
will also be subject to checks by the council and government to make sure the working conditons
are adequate for the workers and make sure that the business is complying with all regulaton which
it should be complying with.
