As 2024 wraps up, it’s a good time to take a step back and think about the changes this year brought for businesses everywhere.
New challenges, new opportunities—what did they mean for your business? Did you feel prepared, or were there moments where you wished you had a little more support to tackle them head-on?
Here’s the thing: every change, big or small, is a chance to grow stronger. Reflecting on what worked (and what didn’t) can set you up for an even brighter 2025. Let’s dive into those lessons together, because with the right strategies—and the right tools—you’ve got everything you need to keep moving forward.
Regulatory Rollbacks and Legal Updates
This year saw notable regulatory rollbacks aimed at easing the burden on businesses. The Supreme Court Loper decision set the tone for a series of changes, including challenges to noncompete regulations, adjustments to overtime pay thresholds, and a pause on the Corporate Transparency Act. These shifts provided businesses with more flexibility and room to innovate.
However, these federal rollbacks often led to increased activity at the state level. For instance, Washington tightened its rules on noncompetes in June, as detailed in our blog post: Washington Updates Noncompetition and Nonsolicitation Laws. Similar state-level actions were observed in employment, privacy, AI, and environmental regulations.
Emerging Risks
Despite the easing of some regulations, new challenges emerged. Immigration issues remained a significant concern, with businesses needing to ensure I-9 compliance and prepare for potential workplace intrusions. Check out our legal update on Preparing for Immigration Enforcement & Workplace Raids. Cybersecurity threats continued to escalate, necessitating regular software updates, phishing scam training, and consultations with insurance brokers to safeguard business operations.
Opportunities for Growth
2024 brought its fair share of challenges, but it also opened the door to exciting opportunities for businesses—especially in the realm of AI and digital transformation. AI in the workplace is a game changer, but it comes with responsibilities, like ensuring fair hiring practices and protecting customer data. Similarly, digital transformation can feel chaotic, but with the right strategies, businesses can turn disruption into growth. We dive deeper into these topics on our blog: The Importance of an AI Policy for Your Business and Mastering Digital Transformation: Turning Chaos into Strategy.
And privacy laws? They’re evolving fast with businesses needing to stay compliant with a patchwork of regulations, such as Washington’s My Health My Data Act.
Looking Ahead
The takeaway? These challenges don’t have to slow you down. Embrace the changes, leverage the opportunities, and be prepared to navigate the risks. The regulatory environment may be shifting, but with planning, the right strategies and support, you can keep your business moving forward.
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