Risky Business? Not When it Comes to Regulatory Compliance!

As a budding entrepreneur maybe you don’t recall the classic Tom Cruise coming of age flick, “Risky Business.”  Or perhaps as a seasoned business owner you still chuckle when remembering BVD-clad Tom sliding across the floor, pseudo microphone in hand, belting out “Old Time Rock and Roll!”  In the movie, of course, Tom plays a teen who gets in over his head while his parents are away and his unchecked thrill seeking ways turn into “risky business.”

As an entrepreneur and small business owner you know risk is an inherent part of being in business.  You seek to find the proper balance between risk and reward every day.  It’s likely you prefer to spend the too-few hours in your day focusing on your business and not wondering what regulatory requirements or rules might apply and if you have the bases covered.  Some requirements are common to most or all businesses.  Others will be very specific to your business and only you, as the business owner, can help identify them.

Iowa’s Business Assistance Network can help you or your business advisor identify what requirements apply to your business and help get your questions answered.  And if you are concerned about regulatory approval processes and timelines, the Business Assistance Network can assist with this too.  Our network is made up of experienced, informed business assistance coordinators from agencies across state government.  Working as a cohesive unit, we seek to help business owners get the accurate regulatory information you need. We are here to help you navigate any necessary regulatory requirements.  We focus on streamlining the inquiry and assistance process and getting you to the right place, to the right assistance at the right time.

Comprised of representatives from key agencies including Iowa Economic Development Authority and the Iowa departments of Ag and Land Stewardship (IDALS), Natural Resources, Public Safety, Revenue and Finance, and Workforce Development.  Here a just a few examples of how we can assist you.

• What type of tax permit do I need?
• Any environmental permits required?
• What’s the difference between an employee and contractor?

According to Margaret Thomson, Business Assistance Coordinator at IDALS, “The ability to identify the right contact in a time manner is key in getting citizens and small businesses the help they need.  The network excels at this!”

As a savvy business owner, you know there are no guarantees in life or business, but if there is assistance out there to help you mitigate your risks, why not give it a try?  We look forward to helping you!