Federal regulations increase the cost of doing business, and can be a disincentive for anyone thinking about starting a business.
Fortunately, there are technology solutions that can take some of the sting out of regulatory compliance and even turn it to advantage. Many regulations involve collecting information and informing consumers — tasks that can be largely automated using software and mobile devices. The data gathered can often be used to fine-tune operations and better serve customers.
During his campaign, President-elect Donald Trump promised to eliminate the most daunting rules and scale back regulations. Specifically, Trump called for a governmentwide review and, more recently, suggested that two existing regulations be eliminated for each new regulation enacted.