MODULE 5: BUSINESS COMPLIANCE SUCCESS FUNDAMENTALS

Copy of PURCO – BUSINESS SUCCESS FUNDAMENTALS – SMME TRAINING (PART TWO) MODULE 5: BUSINESS COMPLIANCE SUCCESS FUNDAMENTALS

“You have to evaluate compliance not as an expense, but as a money saver. Sure, managing compliance takes resources, but it’s nowhere near as expensive as the costs associated with a breach.” – Paul Koziarz

INTRODUCTION

Business compliance for any business whether small or large, requires that all businesses fulfill their legal obligations. This is in order to safeguard the well being, safety, and welfare of others, as failure to act in accordance with the laws can result in legal penalties as well as losses for the business. This module will enable the understanding and the application elements required to becoming compliant as an SMME.

PURPOSE OF THE MODULE

The purpose of this module is for you, the entrepreneur, to acquire a foundational concepts in compliance. This module will provide learners with the knowledge to determine its status and the gaps relative to supply chain compliance. This module will be useful to entrepreneurs who are following or planning to become part of the supplier base/register with government and/or private sector organisations.

MODULE LEARNING OUTCOMES

At the end of this module the you, the entrepreneur, should be able to:

Understand why compliance is important to government and private sector organisations
Determine the compliance elements gaps in their business
Understand the process to become compliant for each element

KEY CONCEPTS

Below are some key concepts that will be mentioned throughout the course of this module: