Starting your own business is not only a route to employing oneself but also other people. However, starting a business is not a matter of waking up one day and setting it up. It is a process that requires time, especially if you want your business to be successful. You need to consider factors like the number of employees you require, or the location that would suit your business the most. One issue that may bring your business down if not taken care of is the law, and hence before setting your business up, you should seek legal advice. The following are key areas that you should pay attention to when seeking legal counsel:
Lease Agreements
A lease legally gives you the rights to property ownership for a set period of time. Basically, there are two types of leases: short-term and long-term leases. In simple terms short-term lease means to rent a premise for a short-time while long-term means to rent for a long time. If you have a location that attracts your set target of customers, then a long-term lease is the way to go. But if you are starting out small, a short-term lease is perfect since you can move out as you expand. A solicitor should be able to explain clearly all the terms in a lease agreement.
Note that when you sign a lease, you are bound by the law to fulfill the conditions stated. If you are not happy with a clause or two, and you want to change some things in the lease agreement, your solicitor will do so in writing after negotiating with your landlord's solicitor.
Employee Compensation
Before hiring employees, pay attention to factors like, time off and leave, which are all stated in the employee legislation. Under the law, you must pay your employees for all their working hours which include hours spent in team meetings, training, business hours, and trial shifts.
An employee is also entitled to a leave, which could be either a sick leave, paid leave, or a parental and maternity leave. Under the law, an employee can decide to take 4 weeks of annual paid leave, which can also extend to 5 weeks if the employee is working on a shift basis. A part-time or a full-time employee can take a sick leave of 10 days annually. Keep in mind that you are required to pay your employee even if the employee is on a sick leave.
A parental leave gives an employee the right to ask for a leave if the employee gives birth, or if the spouse of the employee gives birth. If the employee adopts a child who is under the age of 16, he or she is also entitled to a parental leave. A parental and maternity leave can take as much as 12 months. But during this time, you do not have to pay the employee.
