There is much to talk about when it comes to the government cracking down on small business owners. So, what do they think about it? Are the government’s tight regulations good, or bad? First, let’s take a look at what exactly we are talking about.
Marketing and Advertising Regulation
The government says that any and all advertising must follow these basic principles. They must be fair, honest, based on evidence and they can’t break the law. Yet, somehow, I always feel like I’ve been outsmarted by commercials and billboards. Everything in this topic is regulated by ‘The Federal Trade Commission‘ (FTC) from how products are labeled, to advertising to children.
Labor laws usually generate a lot of public drama. Employees want more money and benefits, while employers are usually hesitant to give it. This is why labor laws have been placed into effect. Labor laws regulate wage and hours, discrimination, benefits and much more. They are designed to protect employees as well as employers.
Privacy laws, protecting that which could potentially effect customers, are regulated through the FTC. In general, this means any information received from customers is not allowed to be sold to anyone for any reason. This includes, but is not limited to, online privacy laws and regulations, use and disposal of customer and employee credit reports or other private information, security plans, and more. Privacy laws benefit everyone, customers, employees, and business owners.
These laws deal with things like antitrust, bankruptcies and securities.
Intellectual Property Laws
Just about every business has a logo, or slogan of some sort. When you have something like this, it is most important to protect it. There are laws that regulate trademarks and copyrights, patents, etc. and even a company’s name needs to be protected.
Online Business Laws
There are laws regulating online sales, international sales, and even collecting sales tax. Collecting sales tax online is different than “human to human” sales interactions. These laws are important, and set a guideline for all online-based business transactions. Continue reading How Do Small Businesses Feel About Government Regulations?