Five top New Year’s resolutions for Business Owners

It’s that time of year again when everyone has great intentions to lose weight, go to the gym more, spend more time with family. But as Kathryn Laverty from Belfast law firm Cleaver Fulton Rankin points out, there are five easy New Year resolutions that all business owners should follow for 2016.

Review my business’s terms and conditions for the supply of goods and services.

If you sell products or services to consumers, review and if necessary, update and amend your standard terms and conditions of business. The Consumer Rights Act 2015 came into force on 1 October 2015 and it provides consumers with a number of additional protections. Ensure your terms and conditions remain compliant!

Make a will

Making a will is one of the most important things that an individual will ever do, and it is a must if you a business owner. If you do nothing else this January, resolve to put your affairs in order by making a will.

Review employment contracts, policies and procedures

Review your employment policies, procedures and contractual documentation to ensure they are up to date. In 2016, look out for modifications to the calculation of holiday pay and be aware of the pending introduction of the National Living Wage.

Be Health and Safety aware

Review your health and safety policies and procedures and ensure you are complying with all current health and safety legislation to help prevent accidents in the workplace including trips, slips and falls.

Review my business’s property requirements

Assess whether your business is likely to need new or improved space or whether there is likely to be property which will become surplus to requirements. For leasehold properties in particular, tenants and landlords should review the lease terms to assess when contractual terms are due to end and for relevant break dates and rent review dates etc. so that appropriate advice may be taken and suitable advance planning be implemented.

Kathryn Laverty is a solicitor in Belfast law firm Cleaver Fulton Rankin