Why Has Growth Become So Dangerous?
Because Most Businesses Are Out Of Compliance, And Don't Even Know It
It's virtually impossible to keep track of every required license and regulation across the 79,000+ jurisdictions in the USA. Legal counsel is imperfect, slow, and expensive. As your business adds additional services and products, and regulations change, your business requires additional licenses. Licenses are required for every location in which you operate, and that can include every work-from-home employee. If you're expanding, employ remote workers, or serve multiple jurisdictions, the risk for non-compliance multiplies. Because of this, Forbes estimates that 90% of businesses have missing or expired licenses. That's roughly 136 million businesses in the US that are non-compliant.
Licenses are not a commodity, they're a necessity. It's a criminal offense to operate a business illegally. Municipalities are utilizing advanced AI tools to scrape for all non-compliant businesses. In the past, businesses operated without being fully compliant, but that time has come to an end. Police are being deployed to shut down unlicensed businesses, impose fines of thousands of dollars, even up to $10,000 /day that a company has been unlicensed. Because it is a criminal offense, executives can face fines, penalties, cease and desist orders, and even imprisonment. That's not worth the damage financially and on your company's reputation.
You don't know what you don't know. Krypt empowers you to avoid all of this. It identifies every license you need for all of your business practices and services, files the licenses, stays on top of new licenses, and renews everything for you. Being licensed is a known and accepted cost of doing business in the US. Let Krypt get it taken care of for you.
