I would like to start a small clothing boutique. I love clothes and I know a lot about fashion. The market for clothes is very large because clothing is a basic need. People like items that are stylish and trendy. Therefore, I need to do a lot of research on the tastes and preferences of the consumers so that I can avail to them the kind of clothes that they desire. There are business laws that must be followed while carrying out the clothing business. The laws are meant to promote fair competition, promote the economy of the country, and ensure that the products are safe for use by the consumers. The business laws have advantages as well as disadvantages to the businesses.
The clothing business has a very high level of competition because there are many people carrying out this kind of business. It is necessary to use competitive strategies in this business so as to gain a competitive edge. However, there are business laws that promote fair competition. A business is not supposed to abuse its dominance in the market. Abuse of dominance is whereby the business resorts into ways that will push other businesses out of the market. The business laws have an advantage to a business that is starting up because it is protected from unfair competition. The disadvantage of the law on competition is that a business has to conform to rules that may slow down its growth.
The clothing business is also subjected to consumer laws. The consumer laws are intended to protect the consumers. The consumers need to be protected from harmful products. The business laws require that the consumers should be given all the information that regards the products so that they may not buy products that will harm them. There are some people who are allergic to woolen clothes. The clothing business should ensure that the consumers have all the information about the fabrics that were used to make the clothes. The information should be true so that the consumer can make an informed purchase decision. The advantage of the consumer laws is that the consumers buy products that will not harm them. As a result the consumers will keep on coming back to buy more items from the boutique. A disadvantage about the consumer laws is the constant return of items by consumers due to very negligible issues. The business suffers from having to make refunds, and start the whole process of selling again.
Business laws are also enforced so as to promote the economy of the country. Some of the laws that promote the economy of the country are tax laws. The clothing business should follow all the taxation rules. Taxation helps in boosting the economy of the country through the collection of revenue by the government. Tax evasion leads to penalties and fines. Delay in remittance of taxes also leads to penalties and fines. It is important for the business to implement all the tax rules so as not to fall on the wrong side of the law. The clothing business can avoid high taxes by selling clothes that are produced locally. Imports attract extra taxes such as customs duty. The advantage of the tax laws is that the business can choose to trade in clothes that are produced locally, therefore, avoiding the customs duty. The business can then attract more customers by selling at low costs. The disadvantage of tax laws is that through tax avoidance, the clothing business may lose potential customers who prefer imported clothes.
