Making sure your company is in compliance with all proscribed business regulations is neither an enjoyable or easy task, but it is critical to remain within the law, or you risk undermining your entire operation. For a small business, most of the legal wrangling will be at the state and local levels and regulatory requirements vary depending on business size and type, so it's crucial that you familiarize yourself with the applicable business regulations or else hire someone to advise you.
Here are six items of interest pertaining to business regulation requirements at the federal, state and local levels to weigh before you open for business:
1. Licenses
Most city, county and state governments require business owners to obtain business licenses, and the federal government may also require you to secure special licenses, depending on your industry type. Here are some licenses to look into obtaining:
2. Permits
Many businesses are also required to obtain permits that generally regulate the safety and appearance of an establishment, as defined by local and/or state laws. Remember, failing to obtain the proper permits may prevent your business from opening, and could result in fines or even being shut down. Many state business licenses and permits must be renewed annually. There are various permits you may need, including:The Small Business Administration operates a Web site that will point you toward the proper state offices to begin the licensing and permit process.
3. Environmental Business Regulations If your company deals with hazardous waste or has purchased a mold-infested warehouse, you will likely need to comply with Environmental Protection Agency regulations or risk litigation and hefty fines. The EPA has a Web site for small businesses that you should consult if there are environmental issues related to your business.