Getting Ahead With Legal Requirements and Due Diligence
The SFC Team
Tuesday, 1 March 2022
This is part five of What To Do Before You Launch Your Business: Getting Ahead With Legal Requirements and Due Diligence. We are uncovering the Foundations Of A Healthy Business, but before you are ready to grow and thrive, you need to launch successfully!
The legalities of running a business are overwhelming, there's no denying it. And often, as business owners, you simply do not have the experience or background to know what you need to have implemented before you launch a business. It's definitely daunting, but we are here to guide you through the considerations you need to make before you launch and throughout the growth of your business. We cover everything from Intellectual Property and counterfeiting, to modern slavery and equal employment opportunities, due diligence in materials testing, requirements for shipping, developing contracts for your workforce and supply chain, and certifications you may want to take forward in your business. It is a massive topic, however, just take it step by step.
As always, we are joined by industry professionals for expert input and guidance, including lawyer David Fyfield, Oritain fibre-tracing company, Collect ID, Martha Silcott (Fab Little Bag), Victoria Jenkins, Young Women's Trust and TSG Consulting.
Firstly, watch the introduction video from Charlie Bradley Ross, where she explains the absolute importance of knowing your legal requirements and how to implement due diligence across your sourcing, production, retail and HR teams. Then head into each segment below. Have your What To Do Before You Launch Your Business Checklist handy to make notes and check off what elements of your business you have already completed.
In this Lesson you will learn:
- What Intellectual Property is, and how to protect your designs and reputation, including how to avoid counterfeiting
- What you need to do to protect your workforce and supply chain, including modern slavery and equal employment opportunities
- How to create contracts: for your supply chain, for your employers
- The legal requirements for customs (importing and exporting)
- The certifications and accreditations you may want to take forward in your business i.e. becoming GOTS, Fair Trade or B Corp certified
- What to be aware of when it comes to materials testing
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Pricing Your Products To Sell
with The SFC TeamRead More...Summary
This is part seven of What To Do Before You Launch Your Business: Pricing Your Products To Sell. We are uncovering the Foundations Of A Healthy Business, but before you are ready to grow and thrive, you need to launch successfully!
Pricing your product or service does not need to be difficult or scary. In this Lesson we guide you through terminology that could be new to you if this is your first venture, such as 'margin' and 'landed cost', and how to get started on figuring out a price for your product. We guide you through pricing structures dependent on where and how you want to sell (which you should have discovered in the previous Lesson on Creating Your Sales and Marketing Strategies), and the tech tools available that will support your accountancy and reporting. As always, we are joined by industry professionals for expert input and guidance, including Thierry Bayle and Maria Pesin.
Firstly, watch the introduction video from Charlie Bradley Ross, where she explains the importance of establishing your value - and therefore your pricing strategy - in order to sell your products or service. Then head into each segment below. Have your What To Do Before You Launch Your Business Checklist handy to make notes and check off what elements of your business you have already completed.