Staying Ahead of Legislation
Federal and State legislators continually create new laws that affect businesses in many industries. It’s hard enough to watch for new laws that have already been passed and then rush to meet the new requirements.
It is critical for all business owners and managers to think ahead and watch for signs of what new legislation might be coming down the road. This serves two purposes. One is the possibility, if the legislation would be detrimental to your needs, that you could help head it off before it becomes law. It’s a lot easier to stop a law before it’s passed than to get a government to rescind one later. The other obvious purpose is to make sure you are prepared before the law takes effect. When you can see that certain practices in your industry are resulting in consumer complaints, for example, you can be sure there will eventually be a law to change them.
When looking ahead, you can see the signs and have the opportunity to get ready and to gradually change your practices before you are forced to do so. This makes change smoother and easier and, as a byproduct, puts you ahead of your competitors and enhances your reputation. Follow the Boy Scout creed and “Be Prepared.”