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What is Compliance and why is it important?

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Why does a business need compliance? How does it help me to save money, grow a successful business, control business operations?

In addition to providing a general legal and administrative protection to a business, a proper compliance regime will make the business more efficient, will protect its reputation and will allow its streamlined and efficient growth in the future. With proper policies and procedures, organizational processes and established operating framework, any business owner will gain such benefits as:
- Better control over company’s operations and staff
- Saving time and resources of the management team and investing them into the business development
- Preparing a strong foundation for the future growth and expansion of the business
- Being protected from legal liabilities and being prepared for audits and inspections
- Reputation of organized and reliable business
- Better business position in working with government, banks, investors and large organizations

We overview various types of compliance – legal, administrative and business compliance.

Policies, procedures and forms – these are basic documents that assist you in structuring your business organization and protecting it in the future.


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All information provided in this video is for informational and reference purpose only. Nothing contained herein shall be considered as a legal advice or instructions to be acted upon. CBES – Canadian Business and Enterprise Services does not offer legal advice online or on its YouTube channel. Please consult a professional before you act in reliance on the information contained in our videos.
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Business
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