Protect your business: implement a corporate compliance program!

September 29, 2016 - Tags: Regulations

This guest blog post is provided by the Competition Bureau, an independent law enforcement agency that ensures Canadian businesses and consumers prosper in a competitive and innovative marketplace. Headed by the Commissioner of Competition, the Bureau is responsible for the administration and enforcement of the Competition Act, the Consumer Packaging and Labelling Act (except as it relates to food), the Textile Labelling Act and the Precious Metals Marking Act.

Workplace safety programs promote awareness to avoid workplace injuries. Failing to provide for safety could have serious consequences for employees and may also affect the viability of a business.

Just like workplace safety programs, corporate compliance programs increase awareness. Compliance programs promote competition in the market and avoid potential breaches of the law.

Such programs:

  • May reduce the exposure of your employees, senior managers and your business to criminal or civil liability.
  • Help you identify areas where you might be at risk of contravening the law, provide an early warning of potentially illegal conduct, and enable you to promptly correct situations that might be cause for concern.
  • Help you build your reputation as an ethical company. This in turn can improve your ability to attract and retain high-quality staff, customers and suppliers -- who want to work with a company with a good track record.
  • Enable you and your employees to recognize possible anti-competitive conduct among competitors, suppliers and customers and report any wrongdoing to the Competition Bureau.
  • Allow you to benefit from a possible reduction of a sentence, fine or penalty should you find yourself on the wrong side of the law.

The work required to build an effective compliance program tailored to your business far outweighs the risks and costs that come with breaking the law.

For more information, see the Bureau's Corporate Compliance Programs bulletin, available on its website.

Keep an eye out for our next blog, where we will discuss who would benefit most from a corporate compliance program.


Comments

Posted by Canada.ca on January 18, 2017
Hi Jason,

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

We appreciate your interest in our blog. Blogging, like other social media tools, can be an effective way to engage customers. While there are some challenges, having a blog can be a relatively inexpensive way of marketing your business online. It does, however, require some time commitment to keep content fresh and to respond to customers.

Our "Online marketing" page offers information on blogging, and includes resources for online marketing, including a social media guide for entrepreneurs from the Business Development Bank of Canada (BDC). This free eBook covers topics like developing a content strategy. Also on the Online marketing page, you'll find a link to some free-to-low-cost information and communications technology applications. You can incorporate your blog into an existing website, or use a separate channel. There are several tools that allow you to get started fairly quickly, even if you don't have a lot of Web experience.

For more on this topic, check out our blog article "Three tips for a successful business blog" and our article "Turn 'likes' into loyal customers with social seeding".

Good luck and happy blogging! If you would like more information on starting or growing your small business in Canada, please contact us. Thank you.
Posted by Jason on January 17, 2017
I know this is off topic but I'm looking into starting my own blog and was wondering what all is needed to get setup? I'm assuming having a blog like your woould cost pretty penny? I'm not very web savvy so I'm not 1000% sure. Any tips or advice would be greatly appreciated. Kudos
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