Chapter 5: Statutory Requirements
Laws are in place to govern how businesses operate, every country has these laws and you as the business owner must comply with these. If you were ever to end up in a court of law you cant act ignorant and say I didn't know. Having a business is a big responsibility and abiding by the laws of the land for business operation cannot be overlooked.
Where to get Information on Business Law
You don't need to read all the business acts of parliament or bills of congress to get an understanding.
Your local government offices will have a department that deals with business laws, contact them and they will usually provide an information pack or brochures to guide you.
If you have a local business chamber or business development center contact them they will also have information packs to guide you.
Insurance
In the majority of countries some form of business insurance is compulsory. This is usually some form of public liability and/or depending on your business type professional indemnity.
"You don't need to read all the business acts of parliament or bills of congress to get an understanding"
Always get legal advice; the consultation fees charged by a lawyer can save you tens of thousands in the long term.