Terms and Conditions? Law for small businesses

As I have a think about whether or not to go for setting up my own business specializing in promoting individuals online through video (while trying to learn as much as I can in this rapidly changing field), I have been looking through my goals and the logistics required in order to achieve them. Who do I approach for some market research? How can I stay ahead of any potential competition? And, of course, how would I organize my business?

Right at the last minute, I found out there was a workshop being held at the British Library's Business and IP Centre, which I have visited before. The workshop was specifically on business Terms and Conditions and why you should get them right and was held by Helen Parkins.

Helen's presentation was excellent and really explained why getting your Ts & Cs right is crucial when it comes to business. The pitfalls of getting into a legal situation can be very serious, and so when a company has a clear and comprehensive set of Ts & Cs they cover themselves against the risks of legal action. Likewise if they need to take legal action against another business or individual, the right paper trail in conjunction with these Ts & Cs will likely put the court in your favour and get the outcome you need. As Helen said, Ts & Cs should not just be viewed as a bit of bureaucracy to quickly scramble together - their worth means they act as a real asset, and so should be invested in.

But significantly, drawing up Terms and Conditions is useful for another reason - they are an opportunity to comprehensively look at your business strategy and how you will operate on a day to day basis, consistently time and time again. So when questions come up (such as: When should I send that payment demand out? What might my clients do if something prevents me delivering my product?) there is already a considered and established answer on how your business is practiced. In drawing up the Ts&Cs you lay out a Standard Operating Procedure that means you know how to perform consistently.

Helen has also co-written a book titled A Zest for Business, and having bought it and had a quick read over it is definitely excellent value for money. Compact in size to slip in your briefcase or laptop bag, but absolutely filled with valuable advice far better than other books I've read so far (there's no double spaced size 14 font as is often the case!), and the sections are neatly broken down into subheadings and relevant bullet point check lists.

Helen also has a free legal guide on her website - check it out!

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