With the end of the year fast approaching, many businesses are already looking ahead to 2026. While it’s good to think ahead, when planning for the future, it is also critical to keep pertinent compliance considerations in mind. This is true whether you are planning to grow within your business’s existing product or service lines or expand into new opportunities.
There are numerous aspects to compliance for businesses of all sizes and in all industries. This article provides a short introduction to what businesses should be thinking about heading into the new year.
5 Key Compliance Considerations for Businesses in Florida
While there are numerous aspects to compliance, businesses of all sizes can effectively manage compliance by taking a structured and organized approach to the process. Here are five overarching areas of compliance that most businesses will need to consider on an annual basis (at a minimum):
1. General Corporate Compliance
All businesses have general compliance obligations. Although this is commonly referred to as “corporate” compliance, it applies equally to corporations, partnerships, and limited liability companies (LLCs). Some key areas of general corporate compliance include:
- Conducting Meetings and Maintaining Corporate Books and Records – All businesses should conduct regular meetings and ensure that they maintain up-to-date corporate books and records. Not only is this important from a compliance perspective, but it can be important for mitigating potential liability risks as well.
- Fiduciary Duty Compliance – Breaches of owners’ fiduciary duties can cause significant financial and reputational harm. Now is a good time for businesses to begin conducting their annual end-of-year fiduciary duty checks to ensure that there aren’t any issues they need to address.
- Employment Law Compliance – Employment law compliance is a key area of compliance—and a key liability risk—for businesses in Florida as well. All businesses should take the necessary steps to ensure that they are meeting their obligations with respect to screening prospective employees, documenting their work eligibility, and avoiding discriminatory practices.
These are all issues that require ongoing consideration and a proactive approach to compliance and risk management. If overlooked or ignored, these issues can all expose businesses (and potentially their owners) to significant liability.
2. Licensing and Regulatory Compliance
Licensing and regulatory compliance are also key end-of-year considerations for businesses in Florida, as failure to renew necessary licenses and approvals can potentially have significant financial and legal ramifications. Some examples of common requirements for businesses in Florida include:
- Business Licenses and Permits – Businesses in Florida may need to maintain compliance at the state and local levels in order to remain in good standing. This includes, but is not limited to, filing an annual report with the Florida Division of Corporations.
- Real Estate Permits and Variances – Businesses that own, lease or are in the process of developing real estate in Florida may need to obtain (and maintain) various permits, variances and other forms of approval.
- Regulatory Authorizations and Approvals – From franchise registrations to environmental permits, businesses operating in Florida may need to obtain various other federal, state and local regulatory authorizations and approvals as well.
Again, these are just examples. For all businesses, taking a comprehensive and custom-tailored approach to managing licensing and regulatory compliance is essential for avoiding unnecessary (and potentially costly) issues with federal, state and local authorities.
3. Industry-Specific Compliance
Along with the corporate, licensing and regulatory requirements that apply generally to businesses in Florida, many businesses must address industry-specific compliance as well. Some of the areas in which we regularly assist clients with industry-specific compliance include:
- Product Warnings and Other Areas of Product-Related Compliance – Businesses that sell products must ensure that their products come with adequate warnings, as “failure to warn” claims are among the most common allegations in class action and mass tort litigation. Businesses that sell products subject to the oversight of the U.S. Food and Drug Administration (FDA) and other authorities must ensure that they maintain compliance with these authorities’ rules and regulations as well.
- Insurance Industry Compliance – Companies in the insurance industry are also subject to extensive industry-specific compliance obligations in Florida. We help our insurance industry clients understand and meet their compliance obligations on an ongoing basis.
- Healthcare Industry Compliance – We assist our healthcare clients with maintaining industry-specific compliance as well. This includes everything from complying with the Medicare and Medicaid billing rules to complying with the U.S. Drug Enforcement Administration’s (DEA) registration requirements.
Here too, these are just examples. From communications to transportation, businesses in a wide range of industries must also address industry-specific compliance in order to effectively mitigate their risk on an ongoing basis.
4. Securities Compliance
Securities compliance is a key consideration for both private and public companies. While public companies are subject to extensive accounting, recordkeeping, registration and disclosure requirements, private companies can also face scrutiny (and litigation) if they conduct improper securities offerings. Each year, companies should review their ownership structure to ensure that they remain in compliance, and those that are planning to seek outside investment in 2026 should work with experienced legal counsel to ensure that they remain compliant with the law.
5. Insurance Coverage Considerations
Finally, while businesses should take a proactive approach to managing compliance in all areas, they should also be prepared for the possibility of something going wrong. This is a fundamental aspect of effective risk management. In many areas, this involves ensuring that the business has adequate insurance coverage available. From directors and officers (D&O) insurance to liability insurance covering business interruptions, products liability claims and other potential risks, having all necessary lines of coverage in place for the year ahead can help give businesses the confidence they need to move forward.
Speak with a Fort Lauderdale Business Lawyer at Shaw Lewenz
Do you have questions about what your business can (and should) be doing to prepare for 2026? If so, we invite you to get in touch. To speak with an experienced Fort Lauderdale business lawyer at Shaw Lewenz in confidence, call us at 954-361-3633 or tell us how we can help online today.