Every business faces many different social and financial challenges. But it is larger cities with millions of people, such as Los Angeles, that pose the greatest challenges to businesses. Here are five common challenges with any business striving to make it in Los Angeles.
Diversity and multiculturalism are considered to be positive assets in American culture. Los Angeles is one of the most ethnically and culturally diverse cities in the U.S. Even so, there are many problems are associated with multiculturalism.
Racism and discrimination are two of the biggest problems that affect businesses. There’s also the problem of language barriers between native English speakers and immigrants without strong English skills. A good number of companies solve this problem by hiring bilingual employees who can cater to both groups.
Los Angeles is notorious for its large amounts of traffic. With millions of people traveling on the road, it’s easy for an accident to occur and cause major delays. Technology may have many advantages, but it’s actually leading to an increase in auto accidents since drivers tend to be distracted by their phones and other devices. For businesses, problems may arise when a city is overcrowded with residents and tourists.
Having a large population is beneficial to businesses because there are many potential customers. On the other hand, more customers mean more competitors, requiring entrepreneurs to outsmart each other in order to remain in business.
Pollution seems like the least of any busy professional’s worries, but it could be a bigger problem in the future. Los Angeles city’s smog seems harmless in the air, but it can combine with moisture to pollute the ground. The government may require businesses to invest more in green energy or eco-friendly products. Think of the new plastic straw ban and the plastic bag ban. These bans were instituted because low-value plastics often end up in landfills or in the environment rather than being recycled.
Crime is a well-known side of Los Angeles that will never disappear. Every week, there are new thefts or assaults that occur on the streets and inside people’s homes. L.A. business owners have to deal with thefts, burglaries and armed robberies, and if they cannot, they must close down. Small businesses cannot simply rely on locks on the doors, but need to have high-security systems installed in order to protect their assets, employees, and customers.
In California, earthquakes are common occurrences. Californians learn to deal with earthquakes and its aftermaths. Earthquake insurance is made for businesses that need to cover property damages. In addition, workers’ compensation insurance covers employee injuries, and auto insurance covers the damages to company vehicles.
Doing business anywhere is a challenge. In L.A., there are more people and more competitors around. Overall, it’s important for business owners to know the types of challenges that your business has before finding the solutions. In that respect, Lum Law is on your side. We are practiced attorneys with specializations in business law; if a challenge ever arises that you’re not sure you can face alone, turn to Lum Law Group!
References:
It’s Not Your Imagination, Los Angeles County is Getting More Crowded | Patch
Crime Data in Los Angeles | Trulia
Los Angeles | Budget
Auto Accidents | Ahlander Injury Law
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