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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.

Chancellor launches Recovery Loan Scheme

6 April 2021

The new government-backed loan scheme promises to provide additional finance to businesses that need it throughout 2021.

As the UK economy starts to open up, businesses can now access loans from £25,000 up to a maximum of £10 million under the £75 billion Recovery Loan Scheme. The government will provide an 80% guarantee for all loans. Interest rates have been capped at 14.99% but "are expected to be much lower than that in the vast majority of cases".

The launch comes just days after the Bounce Back Loan scheme was closed. Chancellor of the exchequer Rishi Sunak said: "As we safely reopen parts of our economy, our new Recovery Loan Scheme will ensure that businesses continue to have access to the finance they need as we move out of this crisis."

The scheme, which runs until 31 December 2021, will be administered by the British Business Bank, with loans available through a network of accredited commercial lenders.

Commenting on the launch, CBI chief economist Rain Newton-Smith said: "The coronavirus loan schemes have provided a critical lifeline to businesses, and so its successor - the new Recovery Loan scheme - comes as a huge relief to firms."

Suren Thiru, head of economics at the British Chambers of Commerce (BCC), said: "The new scheme can play a potentially pivotal role in supporting the recovery by getting credit flowing to the firms who most need it."

However, the Association of Independent Professionals and the Self-Employed (IPSE) has warned that self-employed workers are facing a "rising tide" of debt. Research by IPSE in conjunction with Starling Bank suggests that one in ten freelancers took out a Bounce Back Loan. And this is not the only type of debt that freelancers took on during the pandemic. IPSE data shows that 23% of freelancers took on credit card debt and 14% had to go into their overdrafts.

It means that many self-employed workers are now facing a growing debt problem. "Government must pay close attention to a rising tide of debt in the self-employed sector," said Andy Chamberlain, IPSE director of policy.

"As the government prepares its Recovery Loan Scheme, we urge it to closely monitor the level of debt in the sector - and not only ensure leniency from lenders, but also be ready to step in to reduce the strain on freelancers in the coming months and years."

Written by Rachel Miller.

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