This unit describes the performance results, skills and knowledge required to identify and meet regulatory, legal, tax, underwriting and risk management requirements for small businesses. This work is done by people who run a small business. This unit replaces the BSBSMB401 Unit Define legal and risk management requirements for small businesses. 4.2 assess the likelihood and impact of the risks identified Specific legal requirements apply to the management of a small business. 1.3 Development and implementation of procedures to ensure full compliance with relevant legislation and regulatory requirements 2. Compliance with laws, codes and regulatory requirements Legislation and regulatory requirements may include: 3.2 Investigation and evaluation of potential products and services to determine procurement rights and, where appropriate, to ensure the protection of business interests The unit is suitable for existing micro and small enterprises or the creation of a new company or department in a larger organization. 2.5 Conduct investigations to identify areas where legal and regulatory requirements are not met and, if necessary, take corrective action Options for the legal structure of the company may include: The entity applies to those who set up a business that is self-employed, as well as to those who start a new business as part of a larger organization. 1.2 Establish the laws and regulatory requirements that affect the operation of the company in the structure chosen by it 3.4 Identify options for leasing or ownership of commercial premises and enter into contractual agreements in accordance with 1`s business plan. Identification and implementation of business law requirements Occupational safety and security include: 2.2 Identification of tax principles and requirements relevant to the entity and compliance with procedures to ensure compliance 4.4 Development of risk mitigation measures, including identification of insurance requirements and appropriate coverage 4.1 Identification of internal and potential measures External risks for the company II applies to individuals who run a small business and use analytical skills to interpret laws and regulations and develop procedures to manage compliance. 2.4 Monitor the provision of the Company`s products and services to protect legal rights and comply with legal obligations The evaluators of this unit must meet the requirements of the examiners in the applicable laws, framework conditions and / or standards in relation to professional training. 3.4. Identify insurance requirements and acquire adequate coverage 1.1 Identify and explore possible options for the legal structure of the company using appropriate sources 2.1 Establish systems to ensure that the legal rights and obligations of the company are identified and that the company is adequately protected, in particular with regard to occupational health and safety (WHS), Business Registration and Environmental Requirements This unit describes the skills and knowledge required to comply with all regulations that affect the business.

To obtain a license for business contractors or designated supervisors, you must complete a recognized management qualification: BSBESB402 Establish legal and risk management requirements for new business ventures. 2.3 Identification and careful maintenance of legal documents and maintenance and updating of relevant records to ensure their continued security and accessibility 3.3 Negotiation and safeguarding of contractual procurement rights for goods and services, including contracts with relevant persons, as required, in accordance with the business plan 3.1 Obtain legal advice on contractual rights and obligations, if necessary, for Clarification of Company Responsibilities Home / Course / BSBESB402 Determination of Legal and Risk Management Requirements of New Business Enterprises (QBCC Management Course) In order to meet the requirements of the unit safely and effectively, the individual must: The domain specification refers to the unit of competence as a whole. It allows different work environments and situations that can affect performance. Bold italics when used in performance criteria are described below. The essential operating conditions that may be present in the training and assessment (depending on the work situation, the needs of the candidate, the accessibility of the article and the local industrial and regional contexts) may also be included. The elements describe the essential results of a unit of competence. The Evidence Guide provides assessment advice and should be read in conjunction with the performance criteria, required skills and knowledge, domain specifications and evaluation guidelines for the training package. A number of assessment methods should be used to assess practical skills and knowledge.