Regulatory Compliance
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Definition: Regulatory compliance is the process of ensuring that a business adheres to laws, regulations, and guidelines relevant to its industry and operations. It involves meeting standards for safety, taxes, environmental impact, licensing, and other legal requirements.
Example: A handmade soap business ensuring their products meet FDA labelling regulations and maintaining proper tax filings demonstrates regulatory compliance.
Resources:
- Compliance Tools: Platforms like ComplianceQuest provide solutions for managing business compliance.
- Government Resources: Websites like SBA.gov offer guidance on local, state, and federal compliance requirements.
- Legal Assistance: Services like LegalZoom help businesses navigate licensing and other regulatory needs.
Learn More: Check out our guide to learn how compliance plays a key role in running a successful handmade business.
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