“Information is power”. “What you don’t know can hurt you”. These two old adages hold true for the intersection of businesses and government policy. Government regulations are a substantial component of how, where, and whether you do business. So, what if you could help direct the outcome of those policies instead of simply being subjected to them? In others words, make the policies happen for you instead of to you. Below are three reasons your organization must engage in policy making, to increase your profits, your profile and your influence.
1. Knowledge and Information
New forms of regulatory scrutiny appear every day at the local and state level. Prior knowledge of proposed regulation that affects your organization can help prevent significant consequences to your bottom line. Your ability to engage in the discussion will allow your organization to bring a voice to policies that only you can impart. If your organization isn’t aware of or engaged in, crafting the proposed rules, regulations and laws affecting your business, you are at the mercy of those who are engaging in the process. They will write the rules. You will just follow them.
2. Influence and Exposure
It is not only big business that can have an influence on government officials and policies. Engaging in the policy-making process allows you to not only influence those regulations that will affect your business, but will also increase your exposure with decision-makers and other policy influencers. Positioning your organization with political, business and community leaders will raise the profile of your organization through your engagement as an industry insider and expert.
3. Sustainability and Growth
Legislative policy, in particular state and local, can significantly impact your sustainability and ability to grow. Zoning restrictions, employment and labor rules, safety and health regulations, and business classification can all affect your profitability and whether you are able to grow your business. Unintended consequences of business regulations can have a disproportionate effect on smaller organizations, and without input from those most affected, policy-makers cannot fully grasp the significance.
For more information about how your organization can increase your profits, your profile and your influence, please contact Kristin Greene at email@example.com.