Compliance with statutory and regulatory obligations can be an onerous and complex minefield.
It is the responsibility of small business owners to be aware of, and feel confident, that all areas of compliance have been identified and complied with.
These include:
A risk management plan can help a business owner develop a clear understanding of compliance requirements and monitoring them. This includes the risks of breaching compliance and how to avoid breaches.
Again, when starting a business, it is advisable to consult with your accountant or expert adviser.