Once your legal structure has been set up, you will need to devote enough time and resource to set up the appropriate systems and processes for the business so that compliance requirements are met. This will involve setting up:
- Systems for managing the governance of your social business
- Financial systems and controls
- Systems for managing staff and volunteers
- Administration systems
- Systems for managing assets and resources.
You will also need to secure appropriate licences and accreditations for your business depending on the type and nature of your services and products.
The level of system required will depend on the size and nature of your social business. You will need to determine what the minimum requirements are for your business.
Following initial set up, you will need to ensure you have appropriate systems and processes for maintaining compliance.
Want to discuss this further?
Contact sbwenquiries@cwmpas.coop or your dedicated Business Advisor.
Apply now for support
Ready to grow your social business? Apply now through Cwmpas to access tailored support and resources that make a difference.