Understand contracts and key trading laws
Whatever your commercial activity, you need to understand contracts and the regulations which cover the sales and purchases of your business. While the full range of business law is vast, the key issues affecting most businesses are relatively straightforward.
Ensuring you understand how contracts work can help you avoid the most common pitfalls that catch out smaller businesses. By preparing standard terms and conditions and obeying a few simple rules, you can also use contracts to your advantage.