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SMALL BUSINESS

Focus on the right thing at the right time

Small Business: Services

TOP TIPS

Below are a selection of the key areas of legislation that you may need to consider in terms of application to your start up. These may be relevant to you forming a Business,  to influence your product design, or to support conversations with potential clients. 

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Use the find out more buttons for helpful tips and links. We are here to help

Setting up a Business

Are you in top of your obligations for reporting not just the Financial and Auditing stuff , this includes scheduling meeting and minuting changes

Data Privacy

Does your product involve the collection, use, sharing or retention of personal information?
Under Privacy rules you will need to be able to trace your data and evidence that it is only being used by the people that need to use it, for the purpose it was obtained, and for the duration of that activity.

Offshoring

Does your product serve large banks? Does your product rely on services supplied by offshore companies e.g. developers, cloud services ? You may need to consider Banking Standards BS11 rules to do business with them or to navigate their procurement requirements.

Anti Money Laundering / Know Your Customer

Does your product involve the movement of money?

Under AML rules you may need to be able to ensure that the money is sourced legally and for use legally. 

​It's important to know your customer is genuine.

You may also need to report large or suspicious transactions

Financial Services Legislation

Are you / does your product / does your Client provide Financial Advice ? If so there are regulations about who can do so and how 

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Health & Safety

You may see the term PCBU a ‘Person Conducting a Business or Undertaking’ this is likely to be you and if so then you have a responsibility for people’s health and safety at work.
This may mean the care of  yourself, your employees, customers, even the public. You must have practices in place for your duty of care.

Small Business: List

NEED TO KNOW

How many people are engaged in your Business?


You may need to know about

  • Employment Law

  • Holidays Act

  • Health & Safety Law

  • Company Law 

  • Directors Duties

Does your product use or hold personal information about a person or persons?


You may need to know about

  • Privacy Act

  • General Data Protection Regulation (GDPR)

Does your company transact with cash or credit?


You may need to know about

  • Anti Money Laundering (AML)

  • Payment Card Industry Data Security Standard (PCI DSS)

Select the push links above to view more on the referenced legislation

Small Business: FAQ

TOP TIPS

Setting up a Business

Have you set up a Business yet? Even if it is just you or you and a mate or two you will be subject to Companies Act and the obligations that go with it?

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Data Privacy

Does your product involve the collection, use or retention of personal information.
Under Privacy rules you will need to be able to trace your data and evidence that it is only being used by the people that need to use it and for the purpose it was obtained, and for the duration of that activity.

Know Your Customer

Do you need to know about your customers before you transact with them? 

Under KYC rules you will need to be able to verify that aa customer is genuine and that you can do business with them

​

Offshoring

Does your product serve large banks? Does your product rely on services supplied by offshore companies e.g. developers, cloud services ? You may need to consider Banking Standards BS11 rules to do business with then or to navigate their procurement requirements.

Anti Money Laundering

Does your product involve the movement of money?

Under AML rules you will need to be able to ensure that the money is sourced legally and for use legally. 

You may also need to report large or suspicious transactions

​

Financial Services Legislation

Are you / does your product / does your Client provide Financial Advice ? If so there are regulations about who can do so and how 

​

Small Business: List
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