There are not that many legal requirement that affect Micro and Small Business. The most obvious requirement for any business is that it operates within the law. Selling drugs may be very profitable, but it is not legal, unless of course you are a licensed Pharmacy.
So what are the legal requirements that you need to be aware of?
- Some Industries have special regulations
- Staff fall under Labour Laws
- You and your Business must be registered for tax with SARS
- You and your Business need to submit returns to SARS
- Companies and Closed Corporations need to submit annual returns to CIPA
- Your Business needs an Access to Information Manual
These are the most obvious, but you also need to pay particular attention to three laws that affect business;
Whilst they equally important in today’s business environment, the Consumer Protection Act is likely to give you the biggest headache. You need to seek legal advice on how these affect your business.