Legal and financial aspects

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For my business to be able to run safely and legally I need to look into all legal and financial aspects of my business and ensure they are bought into action in the running of the business. I also need to have a good understanding of all the legislations that need to be in place so I can understand why I need to put them into action and what may happen if these are not put in place. Some of the legal aspects I will need to consider while running my business will be: The Landlord and Tenant Act 1954

This piece of legislation gives the tenant security of tenure which means that you cannot be forced from the premises you are leasing unless the landlord can show a justified reason. If the landlord wishes to remove you to sell the premises you will be entitles to compensation. The Impact this act will have on my business This act will give me the peace of mind of knowing that I cannot be forced from the premises my business will be set up in also if the property owner wishes to sell the property while I am running the business I must be compensated for having to close/relocate my business. This also protects me from being removed from the premises without a valid reason.

Electricity at Work Regulations Act 1990 This piece of legislation states that all pieces of electrical equipment in the workplace should be checked annually by a qualified electrician. In particular, discontinue using any equipment that is broken or damaged, displays exposed wires or worn flexes or has a cracked plug. Also you should take care never to over load sockets. The Impact this act will have on my business This act is in place to prevent unnecessary accidents from occurring while running my business. If there is a problem with electrical equipment a fire could start in the property which could result in the damage of the property or either injury to a person. This act therefore has a very strong impact on my business.

Trade descriptions act 1968 and 1972 This act makes it a criminal offence to describe goods falsely, and to sell or offer for sale good which have been so described. It covers many things including advertising, display cards and oral descriptions and applies to quantity, quality, fitness foe purpose and price. The part of the act passed in 1972 deals with labelling of the country of origin. A product must be clearly labelled so that the consumer can see where it was made.

The Impact this act will have on my business This act is relevant to my business as I will need to describe foods and also promotional offers while running my business. This act will mean that I will need to describe all dishes accurately and if I make any changes to meals I will need to state this. Also if I have promotional offers advertised anywhere I must continue to provide these promotions unless stated otherwise or till the advertisements are removed.

Environmental Health and Trading Standards Department (EHTS) Trading standards officers are employees by local authorities and their remit is to investigate complaints from consumers against businesses. Having investigated the complaint they have the authority to take the business to court to prevent reoccurrence of the complaint.

The Impact this act will have on my business If I continuously provide excellent customer service this should not affect me. But still some complaints may occur and in case this happens I need to ensure that my business is always running to the very best standards in all aspects.

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