📅 2026 Update: Key Changes for Starting and Running a Business

Since the original article was published, several important changes have occurred that affect small businesses. These changes involve new laws and rules that can impact how businesses operate in the U.S. The earlier article continues further down this page.

🏢 Corporate Transparency Act Changes

In March 2025, the Financial Crimes Enforcement Network (FinCEN) made an important update. U.S.-formed companies are now exempt from certain reporting requirements under the Corporate Transparency Act (CTA). This change became permanent in August 2026.

This means fewer reporting obligations for many businesses, which can save time and resources.

📉 Changes to Noncompete Agreements

In February 2026, the Federal Trade Commission (FTC) removed its 2024 rule that banned most worker noncompete agreements. This decision aligns with multiple court rulings that blocked the rule nationwide. Businesses can now use noncompete agreements again, which may affect how they manage employee contracts.

💰 Updates to Tax Laws

A significant tax law change took place in 2025. The federal exclusion for qualified small business stock increased. For stock issued after July 4, 2025, the exclusion is now 50% after three years and 100% after five years.

Additionally, the cap for taxpayers rose to $15 million, up from the previous $10 million or 10 times basis. This change can benefit small businesses looking to raise capital.

🏦 Small Business Lending Data Collection

The Consumer Financial Protection Bureau (CFPB) finalized a new rule in May 2026 regarding small business lending data collection. This rule targets financial institutions that originated at least 1,000 covered transactions in 2026 and 2027. The new thresholds can help improve access to credit for small businesses.

📌 Key Points Summary

  • 🏢 Corporate Transparency Act exemptions reduce reporting for many businesses.
  • 📉 FTC's removal of the noncompete rule allows use of such agreements.
  • 💰 Tax law updates increase exclusions for small business stock.
  • 🏦 CFPB's lending data rule focuses on institutions with higher transaction volumes.

💡 Tips for Small Business Owners

Review the details of your specific situation with your attorney. Understanding these changes can help you navigate your business better.

📋 Understand New Reporting Requirements

Stay informed about the changes in the Corporate Transparency Act. Knowing if your business qualifies for exemptions can save time and keep you compliant with regulations.

🔍 Review Employment Contracts

With the removal of the noncompete rule, consider reviewing your employment contracts. Make sure they align with current laws and protect your business interests.

💵 Take Advantage of Tax Updates

If your business issues stock, explore the recent tax law updates. The increased exclusions could provide significant tax savings over time.

🏦 Prepare for Lending Data Rules

If you run a financial institution, ensure you know the new CFPB lending data rules. Compliance will be crucial for businesses interacting with small businesses.

🚀 Leverage Resources Available

Utilize resources such as the U.S. Department of Labor’s Small Entity Compliance Guide. This can help clarify your obligations under various labor laws.

🏆 Top Services Ranked by User Reviews (2026)

This section highlights services useful for starting and running a business. These services are ranked by user reviews from Trustpilot, checked in October 2026. While star ratings provide insight, they can change over time, and unhappy customers may leave more feedback.

🥇 1. Square

Square holds a Trustpilot score of 3.6. It is known for its easy-to-use payment processing and an integrated point-of-sale system. However, users often mention transaction fees and challenges with customer support as drawbacks.

🥈 2. Simply Business US

Simply Business US has a Trustpilot score of 4.5. This service is recognized for its knowledgeable and supportive staff, as well as its affordable pricing options. Customers have noted difficulty reaching customer support over the phone, which can be frustrating.

🥉 3. ZenBusiness

ZenBusiness enjoys a high Trustpilot score of 5.0. It is known for its helpful, patient, and knowledgeable staff, along with fast response times. However, some users report slow support response times and difficulties canceling ongoing service subscriptions.

4️⃣ ShipBob

ShipBob holds a Trustpilot score of 4.0. It is recognized for efficient order fulfillment and a user-friendly platform. Nonetheless, customers have pointed out issues with customer support and occasional delays in shipping.

🆓 Free Government Compliance Guide

The U.S. Department of Labor offers a Small Entity Compliance Guide that can help small businesses understand their obligations under labor laws. This resource is particularly useful for businesses navigating compliance challenges.

🔎 Key Factors to Compare When Choosing Services

  • 📊 Trustpilot scores and number of reviews.
  • 💼 Range of services offered.
  • 📞 Customer support availability.
  • 💸 Fee structures and transaction costs.

❓ Frequently Asked Questions

❓ What is the Corporate Transparency Act?

The Corporate Transparency Act requires certain companies to report their beneficial ownership information. Recent changes have exempted U.S.-formed companies from these reporting requirements.

💼 How do changes in tax laws affect small businesses?

New tax laws have increased the federal exclusion on qualified small business stock. This can help businesses save on taxes when issuing stock.

🏦 What are the implications of the CFPB's new lending data rule?

The CFPB's new rule focuses on financial institutions with higher transaction volumes. It aims to improve access to credit for small businesses.

📝 Can I still use noncompete agreements for employees?

Yes, with the FTC's removal of the noncompete rule, businesses can once again implement these agreements. It's important to ensure they comply with current laws.

💡 What resources are available for small businesses?

Small businesses can leverage resources from government agencies, like the U.S. Department of Labor’s compliance guides. These can assist in understanding legal obligations.

📈 How can small businesses benefit from recent changes?

Recent changes in tax laws, lending rules, and reporting requirements can provide opportunities for small businesses to save money and improve operations.

⚖️ Recent Court Cases and Their Impact on Small Businesses

Several recent court rulings have affected how businesses operate, especially regarding employment and lending practices. These rulings highlight the significance of understanding current laws.

For more recent rulings, feel free to browse more rulings on the news page.

End of October 2026 Update





A brokerage is a firm that assists in the selling and acquisition of specific types of goods. In the most common usage of brokerage firms, these are firms that deal with the buying and the selling of stocks. However, there are brokerage firms that deal with buying and selling of houses, food supplies, furniture, and various other goods that might be necessary for personal and business use.

A brokerage has employees who are trained in the necessary paperwork, negotiations, and other aspects that are required to broker a deal. When a brokerage firm is employed, the individual assigned to the case is the intermediary between the seller and buyer. They are employed to negotiate the terms of the sale in order to benefit both parties.

The payment method of a broker from a brokerage firm is dependent upon the type of firm the individual is from. Large firms can have payment in which both the seller and buyer each pay a share to the broker. However, there are brokerage firms in which the individual is paid solely by the seller because the seller is the one making the profit from the deal and is typically the one who initiates employment.

Brokerage

A brokerage can hold many cases and items for movement, which make it a highly valuable asset in the area of economics. Recently, however, much of the assets have been moved to online venues in order to be more accessible for buyers and sellers. This is an area that needs strict supervision in order to avoid large issues, and the brokerage firms are required to manage these dealings closely.

What is a Brokerage Firm?



A brokerage firm is an institution that, in essence, acts as a stock broker for individual clients or business entities. The broker is a party that mediates between any buyer and seller in a market.  A broker can also act as a seller or as a buyer to initiate a principal agent to the deal.



There are a number of types of brokers, including: aircraft brokers, business brokers, insurance brokers, mortgage brokers, joint venture brokers, options brokers, stock brokers, real estate brokers, retail brokers, and investment brokers.  



A brokerage firm makes money through the sale or purchase of a good. Through mediating and facilitating the transaction, the broker will make a commission on the transaction. The commission is simply a percentage of the total transaction.



Brokers are necessary agents in the various financial or contractual agreements that exist between coordinating entities. The broker is a middle man or third person facilitator between a buyer and a seller. For example, in property transactions, a Real Estate Broker will facilitate the purchase or sale of a particular property. The Real Estate broker will act on behalf of a real estate company and mediate the sale between the private consumer and the entity offering the property. 



In finance, a stock broker acts on behalf of either the buyer or seller. A stock broker will physically purchase the underlying equity or fund on behalf of his or her client, who agrees on the purchase of the financial product.



Code of Conduct



All brokerage firms and the underlying brokers within such institutions must follow a specific code of conduct to ensure the delivery of reliable and accurate information. As a result of the monetizing business model of a brokerage, there are many schemes which unjustly disrupt a client’s desires.



In the United States, however, many brokerage firms do not operate under a tangible set of laws. To regulate the market, a broker must simply pass an examination to prove their knowledge and ensure the ability to broker a deal between two parties. In finance, for example, a stock broker must pass a series examinations administered by the Financial Industry Regulatory Authority. The Series 6 and Series 7 exams are the fundamental examinations required to become a financial broker. Similar to a financial broker, other forms of brokers must pass examinations which evaluate the applicant’s particular knowledge of the underlying product or service.



The code of conduct is instituted by the brokerage firm. These rules must be followed by the particular brokers to avoid termination. If the broker is misrepresenting himself or the company for which he works, he may be liable for a lawsuit in accordance with the laws which protect against predatory practices.



The consumer in any brokerage deal has undeniable rights which are meant to ensure the delivery of sound, accurate, and moral information. A failure to deliver such information can result in a lawsuit and a settlement for the recoupment of any potential losses.