suppose you want to go into an unfamiliar service business, e.g. open a restaurant or start bus company or something like that. So to write the plan of operations you would need to find out all the various minimum requirements promulgated by the regulatory powers that be.
Indeed, ideally, you would need not just the laundry list of rules but rather a ready-made “plan/methodology to write plans” which groups the rules by topic and by importance and points out which ones are of little consequence and which are the ones that are the crux of the matter as known from experience by your existing competitors. I would imagine that the typical exec of a company in any given service business would know all this stuff at least implicitly, but presumably execs of a company that is just starting out lack that sort of experience and hence would benefit from quality self-study instructional manuals as well as human consulting (with the manuals obviously cutting down expense on consulting by reducing information asymmetry).
Well, so how does this work in real life? Are regulations/code rules accessible in searchable digital form? Are there businesses selling explanations/guides/systematizations for these codes to make them more accessible to the overworked end-user? What sort of consulting is available? When considered together as an “instruction to new entrepreneurs” industry, are their products affordable and of decent quality or are there significant unmet needs constituting potential market niches for new entrants?
All federal regulations are conveniently organized by subject matter in the Code of Federal Regulations, available from the GPO for a modest fee and mostly available online for free. New proposed regulations are published in the Federal Register in accordance with the Administrative Procedure Act and then incorporated into the CFR after the necessary comments and revision period.
Things are a little more complicated when it comes to state laws and regulations, and they vary considerably.
ETA: And yes, every industry has consultants whose sole job is to advise on regulatory compliance. Sometimes these consultants are called “lawyers.”
Typically you hire a lawyer to form the business entity, whether it be a traditional corporation, partnership, or some variant thereof. You’ll also need an accountant/tax guy to deal with those matters.
Depending on the type of business, you will encounter issues falling under federal, state, county, and/or city regulations.
In theory, you could look up some of the stuff yourself, but that’s risky. You don’t know all the different places to look, or even necessarily what you’re looking for…
Federal statutes and regulations can often be found online. State statutes are usually available online, too. State regulations and local ordinances can be…more challenging to find. Doing business across state lines adds yet another level of complexity.
You could try seeking help and guidance from the government agency responsible for implementing the regulations. After all, part of the process of enforcement is education of people in the industry. They will often have printed materials and web-based materials available free to educate people affected by the regulations.
Trade associations and professional associations are a great source of help. In many fields, the appropriate associations will have classes on opening a business, startup packets, regulatory guides, and much more. Many associations have education directors and legislative directors who are experts on the subject.
Insurance companies can also be a good source of information. Generally, your compliance with the law is part of what they insure, so they can save themselves money by helping to educate you.
One of the four CPA exam sections covers business regulations. Included are a lot of non-accounting topics such as environmental regulation. Whether a CPA keeps up with all that after taking the exam is another question, but they typically know enough to at least point you in the right direction.
Overall, I find government agencies themselves are extremely helpful and they’re the first resource you should use. They’d much rather help you comply with the law from the start than be the bad guy with the stick after you screw up. You just have to make sure to call every relevant agency at every level of government (so you might have to call city, county, state and federal agencies to be sure of everything).
