5 Key Documents You Need To Kick Start Your New Business


There are many considerations that new entrepreneurs must take into account when starting a business. One of the most important of these is to have the necessary paperwork in place to comply with law. Here are five important documents that all businesses should look our for when starting up:

–Employment Contracts

All employers are mandated to provide employees with employment contracts. The employment contract should define the employee’s role within the company, compensation to be provided by the employer and details of benefits to be provided while employed.

These employment contracts can differ depending on the various positions in your organization, but should include all the information already mentioned as well as any specific duties and responsibilities that pertain to their specific position.

As an employer this document provides legal safeguards for both you and your employees. Taylor Rose are now creating personalised employment contracts online by their qualified solicitors.

–Disciplinary Procedures

There may be instances where an employer will have to discipline an employee for violating company policy. Having a formal policy in place when employees do not meet expectations helps maintain consistency and standards throughout the company.

Improper or inconsistent disciplinary procedures promote a workplace that is not cohesive, with no structure and no consequences for poorly performing employees. It also provides a legal safeguard for both the employee and the employer in the event disciplinary procedures lead to consequences that result in employee termination.

Equal Opportunity and Diversity Policy This document ensures that employers as well as employees are aware of discrimination laws. It also shows a commitment to a diverse workplace and that fair treatment of all employees without regards to race, origin, sexuality, religion or gender.

–Non-Disclosure Agreements

Non-disclosure agreements allow you to identify information that is confidential and to help communicate the type of interaction is acceptable by company standards and legal topics that fall within this policy. It can also include what liability the employee can face if the policy is violated.

This could include a social media policy and an outline that clarifies the proper usage of the Internet, company email and computer hardware and software equipment to safeguard any client or company sensitive information.

–Health and Safety Policy

It is the responsibility of the employer to provide a safe working environment. A strong health and safety policy will help reduce workplace accidents. The policy should include all safety procedures that should be followed along with best practices to prevent the most common form of injuries found in the workplace.

It is important to include what is required of the employee when reporting workplace accidents. A proper health and safety policy will help limit employment liabilities when it comes to workman compensation claims or potential violations that could result in fines.

Businesses have much to consider when operations begin in their start-up. The list above is just a sample of some of the legal documents that should be considered by any business owner. As each business is unique there may be other documents that are business specific and will provide a safeguard for employers and employees.

Other popular legal documents that are used by many include parental leave policy and grievance policy. Having these key legal documents for your business provides you with a solid organizational structure for your company to build upon.