Compendium of the ICC Institute SME Labs on Compliance 

Basics on Compliance 

In today’s fast-changing business landscape, compliance has become a critical aspect for small- and medium-sized enterprises (SMEs) to ensure sustainable growth and mitigate risk. To address this need, the International Chamber of Commerce (ICC) Institute of World Business Law has published Basics on Compliance’ – a comprehensive resource designed to help SMEs understand and implement effective compliance practices. 

About the Guide 

Developed by the Compliance Task Force of the ICC Institute of World Business Law as a final output of the 2023 ICC Institute SME Lab on Compliance webinars, this compendium provides SMEs with a thorough introduction to the basics of compliance. The webinars brought together legal experts, in-house counsel and academics to explore the essential elements of a compliance programme. This guide defines the concept of compliance and offers practical insights and guidance tailored specifically for SMEs.  

Key topics covered include 

• Understanding compliance: What compliance is, why it is important and what the compliance function entails. 
• Building a compliance programme: Identifying the resources, costs and essential elements required to develop a compliance framework. 
• Compliance clauses: Exploring the importance of using compliance clauses, such as anti-bribery and data protection clauses. 
• Compliance as an investment: Making the case for greater investment in compliance and understanding the risks of inadequate compliance measures. 

Equipping SMEs for success 

This comprehensive guide to compliance is a valuable resource for SMEs seeking to navigate the complexities of compliance and ensure their business operates with integrity and accountability. By following the guidance provided, SMEs can build a robust compliance culture, mitigate risk and position themselves for long-term success. 

For more detailed guidance, watch the recordings of the webinars here. 

This guide, developed by the ICC Institute of World Business Law, is a feature of ICC One Click, ICC’s wider offering of business solutions supporting small businesses every day, everywhere.