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What ethical issues an entrepreneur must contend while setting up their business?

What ethical issues an entrepreneur must contend while setting up their business?

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Answer #1

An entrepreneur must deal with a number of ethical issues while setting up a business. Firstly, the entrepreneur must source finance ethically or from legitimate sources. It is unethical to set up a business using tax-evaded money or black money. Secondly, the entrepreneur needs to fulfill the legal and regulatory requirements such as permits in order to start a business. An attempt to circumvent the law would be unethical. Thirdly, the entrepreneur should partner with legitimate parties only or source materials from ethical sources only. Fourthly, the entrepreneur needs to develop agreements clearly stating the business requirements, payment terms, etc. and reveal complete information in such agreements with various parties while setting up the business.

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