Some might say that ignorance is bliss, however, that attitude is best left for fairytales. In reality, ignorance can be highly detrimental in all areas of a person's life. And for entrepreneurs, a lack of wisdom can be problematic because there are so many things to know, especially regulations which impact the day-to-day running of a business.
Christians are instructed on the importance of wisdom all across the Bible. Consider Proverbs 4:7 - The beginning of wisdom is this: Get wisdom. Though it cost all you have, get understanding. If we are expected to seek out wisdom for life, then it is fair to conclude that believers in entrepreneurship cannot afford to ignore the laws and regulations that affect their businesses.
As believers in Christ who operate in the marketplace, we must remember that common idiom - ignorance of the law is no defense. It is therefore our responsibility to operate our businesses with knowledge so we don't run afoul of the law.
There are many ways to become cognizant of the laws that impact our businesses. Taking the time to research and stay on top of industry changes and regulations is one approach. As one person can't know it all, hiring lawyers or others with experience who can help keep the business out of trouble. Wisdom on what not to do can be obtained through sage mentors as well. Each of these approaches requires intentionality and being focused on doing this well, as if for the glory of God.
Finally, we must remember to always keep the laws of God in mind. Doing so will minimize problems at the spiritual and the physical level. Surely, we understand that grace can and does cover many of our mistakes, but we cannot ignore our obligations to God. One such obligation is to observe His precepts and not abandon them in the running of our enterprises. This requires spending time with the word of God so as not to fall into the category of those described in Hosea 4:6 - my people are destroyed from lack of knowledge... Scriptural directives are not just good for our spiritual life but are equally important for the things we do in the physical realm, one of which would be the running of our businesses.
May the good Lord help us all to seek wisdom with zeal and apply that wisdom in a way that glorifies Him as we operate our businesses, IJMN, Amen.