Environmental compliance by small and medium-sized enterprises (SMEs) represents a major challenge for environmental authorities worldwide, not least because this category of enterprises is characterized by features that make it difficult to apply traditional compliance methods by https://financeinquirer.com/.
These requirements are defined by the state of incorporation and can be defined according to the conditions listed below:
- Compliance with domestic legislation: these are the forms of record-keeping for registered enterprises.
- Compliance with external business: these are state and federal government filing requirements for small businesses.
Maintain operating agreements and corporate bylaws
Let’s look at some internal compliance requirements for small businesses. Companies that have incorporated as an LLC or a corporation will draft an LLC operating agreement or corporate bylaws for their business, respectively. These documents outline the rules for running and operating an LLC or corporation and the responsibilities of the owners.
Maintain these documents accordingly each year. Corporations will also need to take and record thorough minutes during corporate meetings. Remember that all members may review and reference the LLC’s operating agreement and/or corporate bylaws.