Business Startup Tips

5 Laws Every Business Owner Must be Familiar with

Looking to turn your business idea into a reality? If so, you would already know that there is a lot to be considered when it comes to commencing business. You have to have an effective business plan and the right funding to get started. However, there are five business laws that you must know as they could affect your business to some extent.

1. Business Licenses

In order to start a business legally, it’s important for you to obtain a business license. Consider the local city government and check out whether or not you need a license. Besides, if there any zoning rules that you need to know.

2. Family and Medical Leave Act

Is any of your employees dealing with a health condition? Or, is there a family member with a medical condition? Whatever the reason, there are some rules that you, as an employer, need to follow. Try to learn about and understand the guide so you come to know how this could affect your business.

3. Workers’ Compensation

Many states want employers to purchase an insurance policy that can compensate any employee if they get injured or fall sick at the workplace. You must think about the compensation to be given to your employees in such a situation.

4. Advertising

When it comes to advertising a product, you need to make sure that you don’t provide false or misleading information to the customers. You should be aware of the consumer protection laws, and they should be followed. Make sure you get familiar with laws pertaining to online marketing including telemarketing, spamming and so on.

5. Privacy

Your customers also want to know that you are doing everything to keep their personal information secure as and when obtained by your business. It’s important to do some research on privacy laws.