Business and Politics
How can businesses benefit from working with politicians and understanding local or national policies? I am just now learning that business and politics go hand in hand. As a new and upcoming business person I am curious to understand the reasons and benefits of working with the government. Why is it that strong corporations always have a hand in the pockets of members at capitol hill?
I recently read a book about networking and it shared with me that it is helpful to have friends in government if you are in business. It is helpful to have friends in these places because the government creates the rules that businesses have to follow and play by.
A great example is taxes. If a business gets information first about new tax laws that are going to be passed, they will be the first to adjust to the change. If they have strong ties in government they will even be able to influence some of the rules that were created and the changes that are implemented.
Calling in Favors and Gathering Information
For example, there are instances in San Francisco about how hard it can be to get a business opened in a local neighborhood. This process can take years and have many hurdles to get over. If you are opening a burger restaurant in a neighborhood and another restaurant doesn’t want you to open your business, they can simply say that your business will be a detriment to theirs and your process can be held up by the local government.
The benefit of having connections with a local political party can come into play here. There have been instances where business owners have worked with local political parties to raise awareness on their situation.
By raising awareness they can spread the word to the community and get the community to participate. They’ll have the community vote or speak to the government about the issue and help speed up the process.
This is a great way to get ahead of political issues and learn how to navigate the bureaucracy that comes with starting a business.