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Compliance Checks: Basic Business Hygiene

Legal Write Ups

Compliance Checks: Basic Business Hygiene

Evaluating which rules and regulations apply to an organization is daunting especially if its startup then even more. Often, organizations need to comply with multiple frameworks and regulations some of them may be overlapping or recurring.  It is imperative to know what laws and regulations are applicable to your business from time to time & follow to be compliant.  Businesses must also focus on building compliance culture and habits

Businesses need to be cautious when it comes to compliances not doing so can jeopardize the business with legal suits, penalties and imprisonment. Which also has a potential impact on the funding as the same lowers the chances of gaining funds for the business. Investors, creditors sometimes even the customers and employees may lose faith and may eventually lead the business to closure. Noncompliance cost can be damaging fines, jail, reputation risks, impact to stock price or revenue, costly litigation and loss of customers. On the other hand, compliance reduces the legal problem, decreases the penalties, improved operations and safety, better public relations and higher employee retention

For example, food businesses need FASSAI license and this one is basic hygiene to start a food business in India and again exactly what type of license depends upon the type, nature, turnover and location of the food business. Even ecommerce businesses which deliver the food needs FSSAI license in India. But if an online food tech or ecommerce food business which just delivers the food fails to get FASSAI registration then it's noncompliance that may be due to lack awareness but yet that may have to face grave legal implications. Ignorance of law is not excuse.

So, take the time to understand the categories your business falls under and what is expected from you as far as compliance goes there by you can reduce the risks and enhance the reputation.

Disclaimer: The information provided under this website is solely available for informational purposes only, should not be interpreted as soliciting or advertisement. We are not liable for any consequence of any action taken by the user relying on material / information provided under this website. It’s not legal opinion in cases you have any legal issues then in all those cases you must seek independent legal advice.

* Write up by Team Purple Pursuits, for more details you can reach to us [email protected]

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