Government decisions significantly shape the environment in which we live and work. Labor laws, tax policies, and even public safety regulations can make or break your business or organization, whether you own your own shop, lead a team of executives, or run a nonprofit.
Navigating the present governmental landscape while vigilantly looking ahead and preparing for future changes to laws, codes, and other regulations can be daunting. It is helpful to have tools to guide you through what can be turbulent waters. These tools are available from firms (like CWJ Strategies!) that specialize in government affairs.
A few specific examples of the importance of engaging in government affairs:
When successful tech companies remain involved in discussions about potential changes to data privacy laws, they are able to both prepare for new regulations while providing industry insight to lawmakers, ensuring compliance is manageable.
A manufacturing company may learn that Congress is considering implementing a policy to incentivize local production to boost the domestic economy. If this business is actively engaged in government affairs, they could prepare to seize this opportunity by ramping up production, sourcing more local materials, or even expanding facilities. On the other hand, if a new trade agreement is being negotiated that could increase foreign competition, they’d have the foresight to strategize and ensure they remain competitive.
If a real estate firm or developer learns of a potential change in zoning regulations through active government affairs involvement, they can adapt by delaying purchases or investing in less affected areas to protect profits.