State registration and entrepreneurial responsibility

Entrepreneurial responsibility shows first of all in fulfilling the rights and duties set by law. An entrepreneur has the right to do any activity not prohibited by law, to own his or her property, to choose the direction of activity, suppliers and buyers independently, to dispose freely of the profit left after taxes, to take loans and to engage in foreign economic activity. The duties are performing contracts fully and on time, paying taxes and mandatory payments by the deadline, paying employees’ wages on time, observing labour protection, sanitary and ecological requirements, competing fairly and keeping correct accounts and submitting reports by the set dates. Intimidating a rival, stealing trade secrets, deliberately damaging property or selling below cost to drive out competition (dumping) are unfair competition. Liability arises when a duty is breached and may be property, administrative, criminal or moral; by subject it is individual, group or collective. The amounts of fines and penalties are set in laws (often as multiples of the BHM); the exact sum must be checked in the current law. As an employer the entrepreneur also answers for employees’ safety.