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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Business Companion: a reliable voice in the misinformation age

Fake news and misleading or unreliable claims are causing serious issues for businesses across the world. It is estimated that online misinformation costs the global economy $78bn a year. Unfortunately, the UK is no exception, with a 2022 study finding that bad or misleading advice costs small UK companies an average of £9,225 each. At a time when every penny counts for start ups, that’s money that could be better spent on growing a business. It could even mean the difference between success and failure for a new venture.

As well as the online maze of misinformation, start ups and established businesses alike face a series of unprecedented challenges and opportunities today. The way customers buy goods and interact with businesses has changed significantly and rapidly. There have also been shifts in the way the UK does business with other parts of the world. And of course, doing business in the era of moving towards a more sustainable, net zero future is something every company must contend with, old or new.

Against this evolving, disruptive backdrop there is a need for reliable, accurate and up-to-date guidance that can help businesses avoid costly mistakes, stay on the right side of the law, and thrive in their chosen sector.

Business Companion is a free online resource that helps businesses do exactly that. Written by experts in consumer protection law and backed by the Department for Business & Trade and the Chartered Trading Standards Institute (CTSI), Business Companion is regularly updated to reflect changes in legislation, and it is constantly expanding to cover more business types.

Over the past year as part of its Business in Focus series, Business Companion has published guidance on topics ranging from alternative dispute resolution (ADR) to consumer vulnerability, delivery charges, net zero, domestic energy saving, holiday parks, selling online and hazardous materials. Other topics include expert advice on renewable energy and starting an online business.

All guidance and materials are written in clear, concise English. Designed for busy traders in search of information that can be accessed quickly, Business Companion sets out the facts about things like contracts and cancellations, marketing claims, complaint handling, best practice and much more.

Guidance is provided in a variety of formats, including web pages, downloadable PDFs and video explainers, in addition to other invaluable resources like checklists and useful links for further reading. Quick guides give the top-line facts about what the law says. Meanwhile, in-depth guides are designed to explore topics in greater detail. These include case studies and technical explanations of how the legislation applies in specific circumstances.

Business Companion is a one-stop-shop for accurate and up-to-date guidance, whatever sector you’re in — and it’s all completely free. Avoid the rumours, uncertainty and potential damage caused by unreliable information, and visit Business Companion today to find out how it can help you do better business.

About Business Companion

Business Companion is a free online resource produced by the Chartered Trading Standards Institute (CTSI) on behalf of the Department for Business & Trade.

The content on Business Companion is written and verified by expert contributors, but is not designed to be a replacement for professional advice and is intended only for guidance. Only the courts can give an authoritative interpretation of the law.

Business Companion covers Trading Standards law for England, Scotland and Wales. For guidance on the law in Northern Ireland, please see nibusinessinfo.co.uk.

Copyright 2024. Featured post from Business Companion.

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