It’s important to make sure your business complies with all state, local, and federal compliance laws because your business could face serious penalties if you fail. Here are five ways you can help ensure your business meets compliance requirements.
1. Use compliance software
One of the most difficult aspects of maintaining compliance is keeping up with all the changing rules and regulations. Using compliance software, such as Azakaw, can help you stay on top of changing laws because these programs need to be updated whenever a law, procedure, rule or guideline changes. To ensure compliance, it is best to use either a subscription service or a program that updates automatically.
2. Make sure you are in a good position
To make sure your business is currently relevant, you should obtain a certificate of good location from your state and periodically check to make sure it is still valid. This certificate verifies that your business is registered with the state, has paid the fee, has submitted all the required documents and has been given permission to conduct business in the state. Most certificates have an expiration date. You will usually need to renew your certificate and submit the required documents and fees by the expiration date.
3. Register and get a license
In most states, businesses have to register with the state to conduct business legally. You must follow your state guidelines to register your business name and obtain the required license or permit.
4. Consider outsourcing your HR department
Many small businesses cannot afford a full time human resources department. You can ensure that your business stays loyal by outsourcing these functions to an independent HR service. Since doing HR should be their full-time business, they should be familiar with the rules and regulations and be up-to-date on anything that changes.
5. Consult an attorney
An attorney may be able to review your processes and documentation periodically to make sure you are still loyal. An experienced attorney should be familiar with your state’s laws and find areas of non-compliance that internal employees may miss. An attorney may be able to assist you if you face disciplinary action because of compliance oversight.
Since many laws govern business and those laws change over time, adhering to a small business can be a challenge. Setting up internal methods and double-checking those methods with external help can make it easier to stay consistent.