One of the biggest mistakes people make when going into business is not really knowing how to start or run a business. Many people seem to think the process is quite straightforward, which is often their biggest downfall.
It is imperative that you know that most new businesses will never make it through the one year mark. While this may seem like fear-mongering, it’s important that you know the facts so you can avoid making big mistakes.
Two things that new business owners often overlook is contracts and health and safety concerns.
The Contracts
When it comes to starting a business, there will eventually come a time when you need to employ a few people. Now, whether these people are family, friends, or strangers, there is one thing you need to do and do right, that’s the contracts.
One of the most basic errors employers make in the early days is giving shoddy contracts to employees, and a lot of the time, this can backfire on the business. You need to remember that a contract is there to protect the employer most of all, so get it right.
You should be turning to a professional to draw up your contracts and have them checked by a legal body before handing them out. Getting this right will protect you and your business as time goes on, so while it’s basic, it is essential.
Health and Safety
The second thing we are going to be looking at is health and safety. It seems that it matters not how much importance is placed on it, it’s still something that goes ignored.
If you want the best for your business, you should be employing somebody to run the health and safety of your business. Having somebody that will either file an injury report for injured members of staff or make sure all risk assessments are carried out could save your business from a lot of hassle.
You need to remember that health and safety is there to protect your team and your business, so ignoring it should never really be an option.
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