Ignorance of the law is no excuse for not following it, but many emerging entrepreneurs invoke just such an excuse to explain away their lack of legal expertise when facing courtroom challenges by employees.
Legal ignorance about topics such as federal regulations about overtime pay and discriminatory practices can often spell big trouble for small-business owners.
“Many entrepreneurs are so busy just keeping their businesses going that they don’t take time to learn about employment law and compliance, but that’s a big mistake,” Alan Crone said Thursday at a roundtable forum sponsored by the Society of Entrepreneurs. “Every business owner needs to be strategic about planning, not just for today but for five or 10 years down the road. It’s better to develop procedures for addressing problems now than to try and figure out how to deal with them when they arise.”
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