Running an online business

For start-ups establishing an online business, there are many legal issues to be considered before your business kicks off.

Businesses must comply with their legal obligations to ensure their business and consumers are protected under relevant laws. Whether you run your entire business online or provide just some of your services, it is important to be aware of the legal issues involved.

URL
The first step to setting up your online business is registering your URL. When deciding on a URL ensure the name you intend to use is not already being used by someone else, is not already trademarked or can be protected by trademark registration. The best way to avoid this is by doing a trademark search and an organisations and business names search to ensure you do not infringe trademark or copy someone else’s name.

Website terms and conditions
Every website should specify the terms and conditions under which visitors can access it, even if your website does not sell any goods or services. Setting out terms and conditions ensures you have a clear agreement in place for visitors and allows you to set limits on what visitors can do with the intellectual property on your website. Also, it can minimise the risk of visitors taking legal action against you or your business.

If your website does sell goods and services you will need to provide refunds and exchanges to comply with the Australian Consumer Law. The Australian Consumer Law covers the basic rights for consumers in relation to rights to a repair, replacement or refund as well as compensation for damages and loss and being able to cancel a faulty service. Your website’s terms and conditions must cover this law.

Privacy policy
A privacy policy will describe how your business handles personal information to its website users. A privacy policy needs to state what information the business will gather from the users of the website and how it will use and secure the information. It serves as a disclosure document, alerting your users to the level of privacy they will be entitled to whilst using your website.

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Strategic Planning for Business Resilience: The Importance of Disaster Management, Crisis, and Continuity Plans

Posted on April 29, 2024 by admin

Strategic planning for businesses ensures resilience and continuity in adversity.

While businesses often focus on growth and expansion, preparing for potential disruptions and emergencies that could threaten operations is equally essential.

This is where disaster management, crisis, and continuity plans come into play. 

• Disaster Management Plans

Disasters can strike without warning, ranging from natural calamities like floods, earthquakes, and hurricanes to human-made incidents such as cyberattacks, data breaches, or supply chain disruptions.

Disaster management plans outline strategies and protocols for responding to and recovering from such events swiftly and effectively. These plans typically include measures for ensuring employee safety, protecting critical assets and infrastructure, and minimising downtime.

By having a comprehensive disaster management plan, businesses can mitigate the impact of disasters and expedite the recovery process.

• Crisis Management Plans

While disasters are often external events beyond a business’s control, crises can arise from internal factors such as leadership failures, product recalls, or reputational issues.

Crisis management plans are designed to address these unexpected challenges and mitigate their impact on the organisation’s reputation, brand equity, and bottom line. These plans outline communication strategies, escalation procedures, and decision-making frameworks for managing crises promptly and transparently. By proactively addressing crises and demonstrating resilience, businesses can preserve stakeholder trust and emerge stronger from adversity.

• Business Continuity Plans

Business continuity plans focus on maintaining essential functions and operations during and after disruptive events to ensure minimal disruption to business operations.

These plans identify critical processes, resources, dependencies, and alternative strategies for sustaining operations during a crisis or disaster.

Business continuity plans encompass remote work arrangements, data backup and recovery procedures, and alternative supply chain routes.

By prioritising continuity and preparedness, businesses can reduce downtime, protect revenue streams, and uphold their commitments to customers and stakeholders.

Benefits of Comprehensive Planning

• Risk Mitigation: By anticipating potential threats and developing proactive strategies, businesses can mitigate the impact of disruptions and minimise associated risks.
• Resilience and Adaptability: Comprehensive planning fosters organisational resilience, enabling businesses to adapt and respond effectively to changing circumstances and emerging challenges.
• Stakeholder Confidence: Demonstrating preparedness and responsiveness instils confidence in customers, employees, investors, and other stakeholders, strengthening relationships and fostering loyalty.
• Regulatory Compliance: Many industries have regulatory requirements mandating development and implementation of disaster management, crisis, and continuity plans. Compliance with these standards is essential for avoiding penalties and legal liabilities.
• Competitive Advantage: Businesses prioritising resilience and preparedness gain a competitive edge by differentiating themselves as reliable partners and service providers.

Disaster management, crisis, and continuity plans are integral components of strategic planning for businesses seeking to enhance resilience and ensure continuity in the face of adversity.

By investing in comprehensive planning, businesses can mitigate risks, maintain essential operations, and safeguard their reputation and bottom line.

In today’s volatile and uncertain business environment, proactive preparedness is not just a best practice but a strategic imperative for long-term success and sustainability. Need assistance with strategic planning as we approach the end of the financial year? Speak to one of our trusted business advisors.

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