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steven-owen
17-01-2003, 01:01 PM
I would like to setup a business dealing as a Small Business Management Consultant, It is only consideration at the moment, however, I am unaware if there is any legislation with regards to giving advice to companies. can anyone help me? Steve

Phil Greenwood
17-01-2003, 02:07 PM
There are no particular pieces of legislation in relation to giving advice but i would strongly recomend that you have Public Liability Insurance. This means that you are covered if anyone tries to claim from you in relation to any advice you have given.

Hope this helps

Phil

steven-owen
18-01-2003, 10:13 AM
Thanks alot - I appreciate that -Steve

KevinL
20-01-2003, 09:58 AM
It depends what sort of advice you want to give under the term "Management Consultancy".

This term seems to cover more and more things and means different things to different people.

There is a piece of legislation called the Financial Services and Markets Act and does/would affect advice given on many things to do with shares/shareholdings in any company. So you couldn't for example advise a small company to sell some of it's shares or what consideration it should receive. There are of course, as with any piece of legislation, exemptions and things you can do but without lengthy advice or reading the 13,000 pages of legislation yourself just steer clear of this area.

Phil Greenwood
20-01-2003, 09:58 AM
Sorry it was actually Professional Indemnity Insurance i was thinking of but Public Liability may also be worth a look at.

Phil