Why are Second-Hand Dealer Licenses Such a Big Deal?
There's no category of licenses in America that are as rigorously enforced as second-hand dealer licenses. Making matters worse, many retailers are second-hand dealers and don't know it. In this paper, Business Licenses, LLC discusses three specific examples or national retailers that needed to rethink their products and services in order to achieve compliance with their licensing authorities. Read more about second-hand dealer licenses.
Q&A: Opening (and Closing) New Stores
There’s no easier way to tarnish your company’s brand than to announce a new location and then watch it get buried in red tape before its grand opening. One of the most common reasons that stores miss their deadlines is when they fail to research and obtain all the business licenses required of them. Read more about opening new stores.
The 2016 Business License Compliance Handbook
A comprehensive business license portfolio often includes 4 separate authorizations for the most basic business activity and a multiple of that for highly regulated activities. This is a substantial headache for any firm. The South Carolina Chamber of Commerce, for example, estimates that it takes 47 hours to fill out the state’s paperwork for a new business. But it gets even worse. 65% of license, permit, and tax registration data change each year, ranging from minor modifications of forms or revisions of fee schedules to major changes in the law. Read more from the business license compliance handbook.
Business License Compliance Survey Results
Licensing authorities are starved for cash and they have more advanced data-sharing tools at their disposal than ever before. This means that they have both the capacity and the incentive to intensify their enforcement of regulatory laws. It’s a perfect compliance storm!
Read more from the business license compliance survey results.
An M&A's Most Overlooked Liability
If you are counting on operating your acquired locations on day one, selling your new products on day two, and keeping your distribution and supply chain functional on day three and beyond, then you better be confident that the business licenses owned and maintained by your acquired entity are up-to-date and that a strategy is in place to transfer them to your possession. Read more about mergers and acquisitions.
The Business License Research Framework
New regulatory requirements arrive in unpredictable waves. Governments on the local, state, and federal level are always devising new laws for consumer protection, environmental conservation, and safety management. As a result, business license portfolios quickly get stale. No government is in the habit of proactively contacting businesses to let them know about upcoming changes to their regulations. Fairly or not, they expect you to know. Read more about the business license research framework.