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Setting up a business involves complying with a range of legal requirements. Find out which ones apply to you and your new enterprise.

What particular regulations do specific types of business (such as a hotel, or a printer, or a taxi firm) need to follow? We explain some of the key legal issues to consider for 200 types of business.

While poor governance can bring serious legal consequences, the law can also protect business owners and managers and help to prevent conflict.

Whether you want to raise finance, join forces with someone else, buy or sell a business, it pays to be aware of the legal implications.

From pay, hours and time off to discipline, grievance and hiring and firing employees, find out about your legal responsibilities as an employer.

Marketing matters. Marketing drives sales for businesses of all sizes by ensuring that customers think of their brand when they want to buy.

Commercial disputes can prove time-consuming, stressful and expensive, but having robust legal agreements can help to prevent them from occurring.

Whether your business owns or rents premises, your legal liabilities can be substantial. Commercial property law is complex, but you can avoid common pitfalls.

With information and sound advice, living up to your legal responsibilities to safeguard your employees, customers and visitors need not be difficult or costly.

As information technology continues to evolve, legislation must also change. It affects everything from data protection and online selling to internet policies for employees.

Intellectual property (IP) isn't solely relevant to larger businesses or those involved in developing innovative new products: all products have IP.

Knowing how and when you plan to sell or relinquish control of your business can help you to make better decisions and achieve the best possible outcome.

From bereavement, wills, inheritance, separation and divorce to selling a house, personal injury and traffic offences, learn more about your personal legal rights.

One in eight SME owners now use online influencers

25 March 2024

More and more small businesses are using social media influencers as part of their sales and marketing strategy; and new research shows that those that do are reaping the rewards.

A study by small business lender Iwoca has found that the use of influencers is growing among UK SMEs, with 13% reporting that they have used a social media influencer as part of their strategy. This doubles to 29% among entrepreneurs aged 44 or under, suggesting young business owners are driving this transition.

The findings suggest that many small businesses could be missing out on an opportunity to grow sales if they don't use influencers - 88% of firms who have used influencer marketing said it had a positive impact on their business.

"Don't hesitate to work with influencers. If you select the right one, they will open up a dialogue and real connection with your audience that will enhance everything that you do across the marketing mix. They not only provide a greater reach, but also allow us to connect with a slightly different brand voice and to a slightly different audience." Paul Sherratt, founder & ceo, Glove Glu.

Choosing an influencer for your business

When asked which factors were most important to them when they chose an influencer to work with, 48% of small business owners said follower numbers was their top priority; 42% considered how relevant an influencer was to their businesses, as well as focusing on their reach in their local area.

"Finding the right influencers can be tough. I'd recommend small businesses start by exploring relevant hashtags on platforms like Instagram, Facebook, and TikTok. Working with businesses that align with both your personal brand, and the community you have created is extremely important. People will see through a brand collaboration that focuses on personal gain rather than informative content." Micro-influencer Harry Newberry.

Small business owners who have never used influencers said their main concerns are:

  • Worries that it wouldn't drive sales (48%);
  • Concerns around authentically representing the business (30%);
  • High costs associated with influencer marketing (18%).

TikTok takes off among small firms

More than two-thirds of SME owners (70%) are active on social media platforms, with TikTok use growing rapidly. While nearly half (45%) of small businesses say they've been maintaining the same approach to marketing over the past decade, the use of TikTok among small businesses has tripled since 2021. Nearly a third (29%) of UK small business owners between 18-44 are leveraging the platform to engage with their audience, up from 10% in 2021.

The rise of micro-influencers

"Unlocking the potential of social media influencers can have a positive impact on your growth. However, tread carefully," advises Mark Di-Toro, Iwoca's communications director.

"For SMEs, the secret lies in tapping into the high-quality micro-influencer niche. These influencers boast genuinely engaged followers, offering a more authentic connection to your brand and products. Always do your research and seek guidance when identifying your preferred online partner. If done well they could be a great way to elevate your profile and boost sales."

Written by Rachel Miller.

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