Regulations enable the government to safeguard consumer interests and control the private sector. Government regulation in the US has witnessed enormous expansion over the years. Policymakers defend regulatory guidelines as a solution to mitigate the impact of unregulated commerce in the country.
Conversely, businesses may struggle to comply with the endless guidelines. They need to follow tax codes, ensure pay equity, prioritize employee health and consumer safety, obey environmental regulations, adhere to advertising ethics, and maintain a commitment to customer privacy. Failing to follow these guidelines may lead to non-compliance issues.
While the intentions behind these regulations are good, business owners often complain that those interventions impede efficiency and growth. As a business owner, you may find some of them regressive enough to stifle growth, entrepreneurship, and innovation.
When you encounter unfair regulations that hinder your ability to thrive, raising a voice makes sense. Here are a few strategic ways to make your voice heard and bring attention to matters affecting your business.
Know When To Take A Stand
Most regulatory guidelines seek to protect the environment, labor, and consumers. But they may hurt the commercial sector in many ways. For example, the California Consumer Privacy Act (CCPA) protects customer data privacy. However, compliance can be a massive burden for smaller organizations because it requires significant resources.
The federal regulations in Hawaii are a glaring instance of the unintended impact of government policies on the growth of businesses. The current regulatory environment in the state has led to fewer small businesses and startups launching here. Additionally, consumer prices are high, and the lack of new jobs is damaging the local economy.
You may have qualms about raising a voice, considering the influence and power of policymakers and legislators. However, taking a stand for the right is crucial because you must protect your business from regressive policies. The sooner you do it, the better.
Mobilize The Business Community
Regressive regulations affect the commercial sector or industry as a whole rather than a single organization. For example, the entire healthcare industry in the US struggles with complex and costly guidelines. Likewise, strict environmental standards overwhelm the production sector in the country. While these policies may have good intentions, they often exert additional pressure on organizations.
Educating and mobilizing the business community about regressive regulations is a tangible step. Research well to understand how a specific policy can hinder growth in your industry. Once you have sufficient data and facts, you can mobilize other players to form alliances that amplify a collective voice. Industry forums and trade associations are good platforms to build a unified stance.
Pursue Lobbying Efforts
Making a noise against a government regulation is often challenging because the other side is powerful. You may get in trouble for voicing your concerns, no matter how genuine they are. Pursuing lobbying efforts is a legitimate way to create a political will for change.
Several instances of lobbying success establish its potential to target policymakers and legislators. The passage of the permanent Film Tax Credit in Massachusetts has led to the revival of the film industry in the state. Pharmaceutical companies in the same state spent millions on lobbying to protest against price controls.
With Boston emerging as a BioTech hub, regressive regulations like price controls are a matter of concern for small businesses in the city. Fortunately, it is easy to partner with a Boston lobbying firm to raise a voice and protect your business from unfair policies.
Corry Associates notes that businesses should take a tailored approach when building a strategy to achieve their goals.
Leverage Public Advocacy And Social Media
Public opinion holds significant sway, even more, in the age of social media. People have a free platform to voice their concerns, making them powerful advocates for business owners. Organizations can also leverage platforms, such as Facebook, Twitter, and LinkedIn, to create awareness about regressive regulations.
Build a compelling campaign with thoughtful posts and videos people are likely to open up and understand. Engaging influencers and activities can further amplify your message. With public advocacy campaigns, you can garner widespread support. It may be enough to pressure authorities to reconsider or revise regressive policies.
Running a business is not just about beating your competition and retaining customers with top-notch products and services. It is also about standing up against regressive regulations that may affect your profits and growth.
You shouldn’t fear countering policymakers, no matter how powerful they are. Stay strong, spread the word, and save your business from unfavorable regulations.