The small business legal considerations of Funding, Investment and Partners

The small business legal considerations of Funding, Investment and Partners

The SFC Team Thursday, 1 June 2023

Contracts act as a safeguard for your business and ensure your business' right to timely payments. You need to know the amount of money you're receiving, how frequently the payments will be made, and the costs associated with delayed repayments.

In this video, you'll learn:

  • The importance of contracts when financing your venture.
  • The areas you need to cover in an agreement with investors and business partners.

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  • Employment Contracts, HR & Modern Slavery Acts for Small Fashion Businesses

    with The SFC Team

    Having clear, well-drafted contracts and policies around employment is essential for any business. Employment contracts are important for both employees and employers. It bonds both parties to do their duties and responsibilities. For example, to fulfil the employee's work duties for the employer and that the Employer pays the employee according to work within a certain time frame. Contracts help you manage your staff effectively and protect the interests of both parties if issues arise. They also provide clarity about what will be expected from each party involved in the arrangement, which helps eliminate any confusion about responsibilities or expectations.

    It’s important to have well-drafted contracts that are tailored to your business and individual employees and their responsibilities. 

    Modern Slavery is a crime and examples include trafficking people, forced labour and servitude. The practice sees individuals gain, either personally or commercially, from the exploitation of the victim. That's why a Modern Slavery Statement, describing ‘the steps your organisation has taken during the financial year to deal with modern slavery risks’, is important to publish. In this lesson, we talk you through how to write your own Modern Slavery Statement.