Reason 9 why NOW may be the best time to sell your company
Avoid Increasingly Stringent Licensing, Code and Regulatory Issues
There’s no doubt about it; this industry is becoming increasingly more regulated.
The cost of licensing and compliance continues to grow as more and more facets of our businesses come under some sort of regulation. And it’s not just the cost of the licenses and permits themselves, it’s also the hidden costs of compliance. Somebody has to be responsible for the licenses and, in most cases, there must be a “qualifying person” who maintains the experience and qualification credentials. If it’s the owner who is the “qualifying person” (as it should be), do you have the time, experience, and technical capability to qualify for and maintain all the required licenses.
Can you afford to take the time away from day to day operations to obtain the ongoing update training that is often required to maintain licensing? If you are relying on one or more employees to maintain the licenses, what happens when they leave you?