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SME's - regulatory compliance - is it an issue

SME's - regulatory compliance - is it an issue

An independent study of regulatory compliance in South Africa showed annual compliance to come at a cost in excess of R70bn. This is a lot of money that is simply being wasted. The question that follows is whether over regulating the economy is an African trend or not.

Unfortunately a brief review of the latest global competitiveness report tends to lead one to conclude that the trend in Africa is to over regulate. In an effort to resolve the problem we need to understand why.

Is it a dictatorial approach to government? I do not think this is often the case. In my humble opinion the cause is often a severe case of paternalism. These governments have too little faith in their own people. The collectivism culture together with strong tribal/traditional leadership models leaves little room for people to be entrepreneurial and make their own mistakes.

This has been compounded by the socialism approach learnt during the fight for freedom from colonialism, when their support base was the communist bloc.

Whatever the cause, it is killing the entrepreneurial drive within these countries and needs to be addressed.
Rob Smorfitt





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Dr. Rob Smorfitt
(Visit Dr. Rob's Website) Have an MBA and a PhD in entrepreneurship. Three key areas of ongoing research are entrepreneurship and innovation in large businesses, the impact of legislation on SMEs and SME finance. Run my own SME blog at http://sme-smb-smme.blogspot.com as well as an entrepreneurship and innovation for large businesses blog at http://innoveur.blogspot.com I have been self-employed since 1982. I have started or purchased in excess of 40 businesses since then. Most were sold again and a few were shut down because of a lack of profitability. Many were run by staff or family while I worked in full time employment in my bigger businesses. 6 books written in Entrepreneurship and Project Management educational field. Written articles for various magazines, newspapers and websites. Married with 3 children (22, 21 and 14).

Dr. Rob Smorfitt is a Platinum author on EvanCarmichael.com
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