And, again, compliance.
Regardless of where they stand on positions regarding business regulation in the United States, company owners and entrepreneurs in California and across the country uniformly come together in agreement on this one point: Their businesses routinely deal with rules and regulations of all sorts, with the requirements imposed on their enterprises by local, state and federal regulators seemingly increasing all the time.
Some business principals just endure, acknowledging the hurdles and viewing them as, literally, the cost of doing business.
Others, too, march on, but they do so while offering up sharp criticisms of what they believe are far too many chokehold points being imposed by regulators. They say that they are awash in exactions and obstacles that make operating and turning a profit overly difficult. They add that, unless they get relief across a broad spectrum, their woes exacerbate problems for the larger society. Fewer people are hired. Development is stalled. Raises are delayed.
A recent Los Angeles Times article on business leaders’ regulatory concerns and reform hopes cites the view that misguided rules are responsible “for countless businesses that never got started, products that never got launched and people who never got jobs.”
It has been plausibly argued by many business commentators that it is reformed regulations — more so than tax adjustments, government stimulus spending, manipulations to interest rates or other strategies — that most affect the American economy in an upside way.
The incoming presidential administration has repeatedly voiced an intent to cut business regulations in order to fuel an economic takeoff. Although rhetoric in that regard has understandably been somewhat general on many points to this juncture, many people believe that the Trump administration will now act resolutely in many areas — including banking, the environment, immigration and labor law matters — to reduce business restrictions and better promote growth.
Time will tell how things unfold, of course.
The bottom line is that business principals will always pay closest attention to such matters and actively pursue strategies that optimally promote growth and efficiencies.
We will be sure to keep readers duly apprised in future blog posts of material developments that emerge regarding business regulation and reform. We know that full and timely knowledge in this area is critically important to our valued and diverse clients.