On average, the companies that have citations pay $30,651 over the span of 5 years. Whether companies are aware of regulations or not, they still run the risk of getting violated. 12% of small business owners are unaware of the source of regulations impacting their business (local, state, or federal). This is a clear indication to how confusing understanding regulations surrounding any business can be.
Learning the regulations surrounding your business is confusing, onerous, and exhausting. Pending regulatory changes and new regulations makes compliance even trickier. These big picture responsibilities can distract from revenue generating activities or be overlooked when focusing on operations. Neglecting these responsibilities can lead to violations or destroy your reputation as a growing company.
Concerns surrounding regulations ultimately affect the growth of many businesses. 39% of businesses held off on business development due to existing regulations and 53% of businesses held off on business development due to impending regulations.
On Hand’s mission is to assist small businesses with the tools to keep up with these regulations that larger businesses have dedicated teams for. People exhaust themselves worrying about the increasing burden regulations put on their businesses. On Hand makes keeping up with responsibilities easier.