What Are Political And Legal Factors That Affect A Business?


4 Answers

Rory Copus Profile
Rory Copus answered
There are many hundreds of political and legal factors which will directly or indirectly affect businesses. In fact, most laws will have some relevance if you look deep enough. There are however some main business related laws which are primarily there to serve the business world. These include:

Equal pay act (1970) - This means that all employees who are doing the same job should be paid the same wage.

Sex discrimination act (1975) - Employers must not discriminate between their employers because of their sex.

Sales of goods act (1979) - A consumer can sue a business if it sells them a product that is of poor quality, or is not as described and does not fit the purpose for which it is being sold. This is a law which affects businesses but supports the customer.

Health and safety at work act (1974) - This law ensures that employers provide healthy and safe working conditions and employees must act in a safe and responsible way.

Race relations act (1976) - Similar to the sex discrimination law; this law means that employers must not discriminate due to the race of their employers or interviewees.

Contract of employment - This is an agreement between the employer and employee. It includes conditions such as rates of pay, hours of work, holidays, pension contributions and the amount of notice that must be given if the worker wants to leave or the employer wants to make the worker redundant. Employees taken on for a month or more must be given a written statement of the conditions within two months of the date the job starts.
Penny Kay Profile
Penny Kay answered
Legal factors with business include, but are not limited to, licenses & accreditation, taxes, permits & codes, liability, and Contractual. Political Factors would be affiliations with politics and/or political candidates, and dependency on political statutes and regulation. A business could flourish under one political entity, and be run out of business by another; as in additional taxes, regulations, or bans.
Jhon Larson Profile
Jhon Larson answered
The main political effect is increase of taxes by the policies.
Anonymous Profile
Anonymous answered
I am wanting to start a business in beauty, what would be political and legal factors that will affect or could affect my business

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