This section sums up significant responsibilities and tasks needed for managing a business. That means keeping accounts, paying taxes, recruiting and supervising qualified staff. A special attention is paid to legal obligations towards the environment and business support provided both by the Czech government and the EU structural funds.
This text contains information on the Czech banking sector, insurance sector and the capital market. You can find here links to the key governmental institutions such as the Czech National Bank or the Czech Export Bank as well as associations and chambers which might provide useful information regarding auditing, accounting, legal services, leasing, financing or testing, logistics and real estate sector.
Taking Sustainability Further
A company is a direct part of the society in which it conducts its activities. Creation of profit should go hand in hand with responsibility towards the society. Currently, the term corporate social responsibility (CSR) is used widely, which denotes the method of doing business in a way that focuses not just on the economic but also the social and environmental part of the activities.
Handling Financial Difficulties
The financial difficulties problem is governed by a number of different legal regulations from different areas. These include regulations in the area of corporate law, accounting regulations and insolvency proceedings. The current entrepreneurial environment is very unstable, with unpredictable conditions the entrepreneurs need to adjust to.
Staff management requires particular skills – setting wages, complying with social security rules, matching skill sets with jobs.
Businesses are also legally bound to submit statistics. When compiled in the national and European statistical datasets, these can then help companies evaluate markets and develop commercial strategies.
Managing a business – especially a small one – also requires owners to keep a constant and close watch on finances, to anticipate difficulties and avoid insolvency.