North Carolina is an attractive area for entrepreneurs, existing and new business ventures. It is exciting to provide assistance and work with business owners as new opportunities for business develop. One of the areas which is developing quickly is the use of services such as Uber, Lyft and others. Whether the new business is technology based or not, entrepreneurs have for years run into regulatory red tape when a new idea is born. Most often, governmental regulations follow new business ideas and development. This is certainly the case with Uber, Lyft and other similar service based business ideas.
North Carolina is one of many states where the current regulations do not include such new services. There is much debate in the legislative and regulatory circles that the North Carolina Legislature will soon consider passing legislation to include these services.
As is often the case with entrepreneurs and business owners, Uber and Lyft are considering their business models in light of the pending legislation conversation regarding these services. As the legislature looks at how to regulate any business, the business owner and/or entrepreneur must consider the model and plan for future expansion and compliance.
One fact remains. North Carolina is a popular place to do business. We need to do all we can to encourage business growth and prosperity in the State. As the legislature looks to include this type of service into the regulatory makeup of other similar businesses, they will need to make the playing field competitive for existing and new businesses.
For business owners and entrepreneurs, part of the excitement is bringing new ideas to reality and seeing them flourish. How to work with existing and/or new regulations is nothing new and seems inevitable. It is important to stay involved with the legislative process as well as complying with the legal realities of running and operating a business. Business ownership is great!