If you are a small business owner, you know how worrisome it can be. You find yourself in the position of trying to be all things to all people. Since 2002, a series of federal investigations have found fraud, abuse, loopholes, and a lack of oversight in federal small business contracting, which has led to the diversion of billions of dollars in small business contracts to large corporations.
Pestle stands for politics economics social technological legal environmental these are the 6 factors that can impact the business organization through politics, constitutional change can change the way a business organization runs, my business is rehabilitation Center and therefore the government can change the law on increased tax will affect my business with decreased profit.
Two of the most prevalent ways that large companies can maintain a small business front are through the legal loopholes that allow a small business to retain its status throughout the life of its original contract-and bid on new business as a small business-no matter how large it grows and even after it is bought out by a large company.
Trading terms and condition gives me as a business owner rights and protection, this act is mainly designed to limit potential liabilities and provide the seller with a form of security to recover from debt, following the supply of products and services.
If you are taking on significant amounts of debt to start your business, if you’ve gotten into trouble with personal debt in the past or if your business involves an activity for which you might potentially be sued, then you should choose a legal structure that will better protect your personal assets.