Welcome to part ten of our Starting Up In Business series, where we will take you through some of the steps and considerations you should take before you start your own business. To read part nine, click here.
What is red tape? The expression is linked back to the roll of documents that Henry VIII submitted to the Pope when he attempted to annul his marriage with Katherine or Aragon – it was bound with red tape. Red tape generally includes the filling out of paperwork, obtaining of licenses, having multiple people or committees approve a decision and various low level rules that make conducting one’s affairs slower, more difficult, or both. Red tape can also include filing and certification requirements, reporting, investigation, inspection and enforcement practices, procedures…
Our present Government has expressed a desire to lift some of the burdens of red tape from small businesses!
There is no doubt that at times you will just have to deal with it. Here are a few tips that may make the process less painful.
Find out exactly what is required, what forms need to be filled in and when they need to be submitted by
If you feel like a particular process is beyond your abilities, find a professional adviser to help. The cost will generally be recovered by the time that you are able to free up to work on your business.
If you want to manage the process yourself, read the find print. Don’t gloss over the instructions as it will only cost you time in the long run.
Red tape seems to be a necessary evil in our highly organised society. If you find yourself beating your head against a brick wall, save yourself the headache and get some help.
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