Most people can see the benefits of having a personal health check, but business owners should be aware that it is also important to perform a periodical health check on their business.
The importance of health checks
They say that prevention is better than cure, and in the same way that an individual would benefit from a health check to spot potential problems, having regular business health checks could save your business thousands of pounds by early diagnosis, as in general, the later a problem is identified, the more costly and time consuming it is to resolve.
By reviewing all your documents and processes, a legal health check will identify any areas needing attention and can assist with:
- Checking all your business relationships are properly documented
- Checking that your key contracts are still valid
- Confirming that suppliers are complying with their agreement
- Identifying whether there are new regulations you need to comply with
- Protecting any intellectual property you may have created
Business areas to be covered in a health check
Some areas which the health check should cover include:
- Commercial contracts – for example, your terms of business and contracts with your distributors
- Property – for example, property development and investment
- HR and Employment – for example, contracts of employment, redundancies and retirement.
- Dispute Resolution – for example, your debt collection policy
For more information about how Hopkins can help ensure that your business is in good health, please contact Martyn KnoxRequest a Callback
What if my business hasn’t issued a contract of employment to an employee?
There has been so much interest and hype in respect of employment status lately, yet so many businesses still forget…
How do I discipline an employee correctly?
Managing misconduct in the workplace is not an easy task. It is time consuming, impacts on production and can sometimes…
How do I dismiss a difficult employee and avoid a tribunal claim?
Often employers are faced with situations where an employee is being disruptive to the extent that the employment relationship has…