The cost of doing business in the United States hinges on a variety of factors and will vary from industry to industry and location to location. Such costs could include space cost, labor, transportation, cost of supplies, and regulatory requirements. We have been thinking a lot about the last factor, regulatory requirements, particularly as it relates to cost increases by the Underwriters Laboratories (UL).

The UL is an independent product safety certification organization. One of the primary things that the UL does is to develop standards and test procedures for products, materials, components, assemblies, tools and equipment, chiefly dealing with product safety. UL is one of several companies approved for such testing by the U.S. federal agency Occupational Safety and Health Administration (OSHA).

Consumer and worker safety is paramount and we understand that. However, ongoing, and increasing regulatory requirements, and the costs to meet these requirements, continue to put the pinch on businesses. Increases in UL fees are just another example of how it is more and more difficult to do business in the US.