Business Regulation Research Articles

ASSESSMENT OF THE AGRO-INPUT SUPPLY SECTOR IN KOGI STATE, NIGERIA

Most farmers are experiencing challenges and constraints in accessing agricultural inputs, thus leading to poor and underutilization of agro inputs and consequently low agricultural productivity in most part of sub-Saharan Africa. This study assessed the agro-input supply sector in Kogi state. A total of 157 input dealers were randomly selected across the twenty-one local government areas in the state. Data were collected using well-structured questionnaire complemented with interview schedule and were analyzed using simple descriptive statistics. Findings reveal that agro-chemicals, fertilizer and feed were the major inputs supplied by most of the retailers and wholesalers that hardly engage in activities that create awareness about their products. Input prices were the most important preference and consideration factor in the purchase of agro-input by customers and form the basis for competition. Casual, family and child labours that proved to be cheaper, commonly accessible and do not require signing of formal employment contract with workers dominated both the retail and wholesale sectors. Poor government support, poor business condition in addition to poor capital base, high transportation cost, price fluctuations, adulteration were the identified major constraints affecting the agripreneurs. The study recommends capacity development on new marketing strategies, registration of businesses with relevant agencies, provision of credit and financial services; formation of formidable, strong and mutual-trust co-operative societies for input supply actors so as to enhance efficiency and effectiveness of the agricultural inputs supply sector in the state.

An Assessment of Informal Sector’s Business Registration Patterns: Nature and Size among Micro, Small and Medium Enterprises in Lusaka

The informal economy is an integral part of a larger economic landscape. Micro Small and Medium Enterprises (MSMEs) informality is attributed to government regulation, a lack of finance, and a lack of access to land, so they do not see the need to formalize. The primary goal of the study was to assess the informal sector’s business registration patterns: nature and size among MSMEs in Lusaka. The study’s objectives were: to describe the size and nature of businesses in the informal sector not registered with PACRA, to assess the efficacy of the policy framework designed by the Ministry of Small and Medium Enterprises to stir the growth of entrepreneurship in Zambia and to determine the business registration patterns and reason (s) why some of those MSME’s have registered their businesses. A descriptive study was conducted with a sample size of 153. The sampling techniques used were purposive and snowball methods. A structured questionnaire was used to collect data and the questionnaire return rate was 82%. The study findings were that out of the 125 respondents, 58% were registered with PACRA and only 42% were not. The high number of MSMEs’ reflect the size of informality. Most businesses that were not registered mainly operated in non-specialized wholesale and retail trade. The study findings also revealed that the Ministry of Medium and Small-Scale Enterprise Development had not completed the process of finalizing policy frameworks aimed at strengthening the growth of entrepreneurship in Zambia. The other study findings were that most MSME’s registered their businesses mainly because it was a legal requirement. This was attributed to increased public awareness as a result of the passage of the Business Regulatory Act No. 3 of 2014. Lastly, the study was also able to identify a significant trend in the registration pattern of MSME's in Lusaka. There has been an increase in the number of registrations in the transport sector, while the wholesale and retail trade, agriculture, fishing and construction continue to top the trends. MSME registration helps to access business support services, meeting legal requirements, and promoting business growth. The MCTI should use the findings of this study to map formally registered businesses, track their growth, and enroll them in business accelerator programs.

An Assessment of Informal Sector's Business Registration Patterns: Nature and Size among Micro, Small and Medium Enterprises in Lusaka

An Assessment of Informal Sector's Business Registration Patterns: Nature and Size among Micro, Small and Medium Enterprises in Lusaka

The characteristics and impact of small and medium forest enterprises on sustainable forest management in Ghana

Small and Medium Forest Enterprises are considered promoters of local development and growth due to their contributions to over 50% of forest-based employment in some countries like Brazil, Uganda, and India. Despite the many potentials of these enterprises, their operations go unchecked, which poses a serious threat to the sustainability of tropical forests. This study highlights the characteristics of SMFEs and the impact of SMFEs on sustainable forest management in Ghana from a survey of 80 randomly sampled enterprises in seven communities in the Amenfi West Municipality in Ghana. Data was gathered using structured questionnaires and key informant interviews and analyzed with statistical tools in SPSS version 25. The findings show that 71.25% of the SMFEs are not registered with the appropriate authorities like the Registrar General’s department and the Municipal Assemblies. In addition, 55 (68.8%) of these enterprises have a direct dependency on the forest for raw materials with 21.8% of this number claiming to have obtained the needed permits/licenses to harvest the raw materials they need from the forests. For 91.25% of the enterprises, factors such as resource availability and profits drive their activities and 8.75% are driven by access to labor and job creation. The analysis showed that belonging to an association is a significant determinant of business registration at p = 0.001. Forest policies must seek to promote sustainable management of forest resources by enforcing registration and permit laws. SMFEs must be consistently monitored and supervised to ensure that their activities are guided by policy and their compliance rewarded through capacity building and government support.

Economic Crisis Management During the COVID-19 Pandemic: The Role of Entrepreneurship for Improving the Nigerian Mono-Economy

The study develops a crisis response theory that could help Nigeria sustain itself in the present crisis, which is deepening unemployment, poverty, and misery due to the tremendous economic crisis it faced after the global pandemic. Entrepreneurship is viewed as a pivotal engine for reinstating the declining economic state of a country. Through the positivist research approach, the study is conducted on the owners and business executives of SMEs established and operated by entrepreneurs in Nigeria. The data analyzed through surveys, in-depth telephone interviews, and secondary sources shows that Nigeria’s economic instability is mainly because of a lack of financial assistance, industrialization, and technology limitations. Though it was observed that the government reduced certain unfriendly business regulations, corruption still caused funding conditions to shift frequently, and unreliable government policies made it challenging for entrepreneurs to thrive.

Impact of business regulations on foreign direct investment inflows and economic growth in East African countries

Impact of business regulations on foreign direct investment inflows and economic growth in East African countries

How should the government bring small firms into the formal system? Experimental evidence from Malawi

Governments seek to reduce pervasive firm informality for multiple reasons: taxes, firm growth, rule of law, and information. We conducted a randomized experiment in Malawi to test three alternatives to achieving these goals: a) helping firms obtain a business registration certificate that offers formal market access but imposes no tax obligations; b) helping firms obtain both business and tax registration; and c) supplementing business registration with a bank information session. We find incredibly high demand for obtaining a formal status that is separate from tax obligations, and very low take-up of tax registration. Business registration alone has no impact on formal market access or firm performance. However, combining registration assistance with the bank information session increases firm sales by 20 percent and profits by 15 percent. The results highlight the advantages of separating business and tax registration, but also the need to help firms benefit from their new formal status.

REFORMING OF GAMBLING TAXATION IN UKRAINE IN THE CONTEXT OF THE EUROPEAN INTEGRATION

The article is devoted studding the reforming of gambling taxation in Ukraine in order to choose the most optimal model of taxation for Ukraine, taking into account the foreign experience of European countries, Ukraine’s commitments to the EU. By signing the Association Agreement with the EU, Ukraine has committed itself to bringing its national legislation in line with EU law. There are no direct commitments of Ukraine to the EU to establish some regulation of the gambling business in Ukraine. However, all European countries regulate gambling at the level of national legislation. Gambling has been allowed in Ukraine since 2020, but the current model of gambling taxation creates an excessive tax burden on the industry and contributes to the spread of illegal gambling. The article analyzes the current model of gambling taxation in relation to the cost of the license and in comparison with the tax models of other European countries. The authors conclude that European countries use a simple approach: "expensive" licenses – low taxes or "cheap" licenses – high taxes. However, Ukraine regulates gambling on the principle "expensive" licenses – high taxes, which does not contribute to the development of the legal gambling market, but on the contrary, the gambling business operates illegally. The authors also analyzed existing proposals to change the gambling tax system, as proposed in Bill №2713-d, and concluded that the proposed model contains a number of gaps that, if passed, could be used to commit crimes related to with the gambling business, and, as a consequence, to the growth of crime in Ukraine as a whole. Among the crimes related to the gambling business, the authors include: legalization of proceeds from crime (arms, drugs, smuggling, etc.); legalization of corrupt income; tax evasion, etc. In this article, the authors provide specific suggestions for improving the provisions of the bill, which will significantly reduce the risk of gambling-related crime.

Financial and legal regulation of hotel and tourism business

The article substantiates the relevance of the study of financial and legal regulation of hotel and tourism business. Arguments proving that hotel and tourism business, as a component of the real sector of economy, objectively has its own characteristics, both at the micro- and macroeconomic levels, are presented. The identification and research of the financial and legal levers of regulation of hotel and tourism business for restoration and development of this sphere of activity have been carried out. The problems of the complex analysis of financial and legal regulation of the activities of hotel, restaurant, and tourism business enterprises and ways to solve them are outlined, which will contribute to ensuring the financial stability of the hospitality sector in the long term. It is substantiated that despite the presence of a large number of various legal acts that regulate the work of tourism, recreational, and restaurant enterprises, there is no single system of their interconnection and comprehensive action. It has been determined that ensuring the financial stability of hospitality enterprises is impossible without a thorough and high-quality legal framework that would fully regulate and establish the rules and obligations of all participants in the market of hotel, restaurant, and tourism services. An assessment of the net profit (loss) of the enterprises of the hotel and restaurant business of Ukraine has been carried out, as well as of the financial results before taxation by types of economic activity in the sector of temporary accommodation and catering. As evidenced by the analysis carried out in the article, state financial support for innovative activity of hotel and restaurant business and obtaining financial monetary resources are very problematic, especially in modern conditions with a constant deficit of the state budget. The significance of formation of legal competences of specialists in the international hotel and tourism business is emphasized as a crucial component of their professional training, and the matrix of competences and program results from the international legal regulation of hotel and tourism business has been analyzed. It has been proven that during the training process it is essential to focus on the practical aspects of application of legal norms in real situations that arise in hotel and tourism business. This will help students develop not only theoretical knowledge, but also the skills to solve specific legal issues that may arise in their professional activities. The importance of taking into account changes in the legislation and the practice of regulation of the international hotel and tourism business, as well as ensuring the constant updating of students’ knowledge in this direction, is also emphasized. Measures to overcome the crisis in the post-war recovery of the hotel and tourism business in Ukraine are highlighted.

FORMATION OF COMMUNICATIVE CULTURE OF BUSINESS SPECIALISTS IN MODERN ECONOMIC CONDITIONS

In the conditions of Ukraine's entry into the European high-tech information space, the integration and globalization of the economy, culture, the growth of communication and information saturation, the level of formation of the communicative culture of business administration specialists has become a strategically important factor in the further progress of society. This led to a change in the goals and objectives of education, and affected the content and nature of the professional training of future accountants. Modern document and information activity is an extensive and integral part of all spheres of social life: economic, cultural, intercultural, political, technical, ecological, and others, it covers all fields of science, education, and production. Communicative culture is one of the defining properties of a modern person, as it occupies a leading place in the overall cultural and professional formation of an individual. In the era of the information world, communicative culture becomes a means of mutual understanding, regulation of business and everyday communication. Communicative culture of an individual is defined as a system of knowledge, norms, values and patterns of behavior accepted in society, the ability to organically, naturally and casually implement them in the process of business and emotional communication. The essence of innovative approaches to improving the level of communication culture of future specialists in the field of office management in the system of professional and technical education is that the training of future office managers should be based on modern approaches to the development of the culture of interpersonal relationships and should be aimed at forming the ability to quickly adapt to non-standard professional situations, to set up new relationships for long-term interaction, prevent conflicts and, if necessary, resolve them constructively; the growth of quality parameters of communication skills and skills of specialists in the field of office management (depth, completeness, thoroughness, awareness) in the process of professional training should be ensured by the rational use of the latest pedagogical technologies, the realization of the interrelationships of aesthetic, psychological, cultural knowledge and professional skills, taking into account international requirements for professional competence of workers in the field of documentation.

The Role of Local Government in the Growth of Small and Medium Enterprise in Kafue, Zambia

Due to several limitations, the business climate for small and medium-sized firms has grown more complicated, dynamic, and uncertain. Therefore, firms should work with local governments to boost their efforts to retain competitiveness in the market. Local government needs to support entrepreneurship if small and medium-sized businesses are to become more adaptable and competitive. In order to better understand how local governments might support the expansion of Small and Medium enterprises (SMEs), this study sought to take a comprehensive approach to the topic. It focuses on SMEs and how they might advance rural development in the Kafue district by looking at cases of SMEs operating within cooperatives. The study’s methodology involved a qualitative descriptive inquiry on interaction, continuity, and situations that were framed by data collection from the respondents. Three local authorities, two SME officers, and 10 certified small and medium-sized businesses were specifically chosen for the interviews. The study augmented the proposal theoretical framework that was built as the ultimate result in connection to the study findings after thematic data analysis from the interviews was initiated. According to the study’s findings, local governments play an important role in the expansion of small and medium-sized businesses as a result of the decentralization policy that was put in place. This is because SMEs gained training in areas like financial literacy, business registration, access to loans and grants, and the knowledge of how to develop high-quality production. The study primarily helps the Local Authority (LA) create a business management system and entrepreneurial abilities that promote socioeconomic development. The study suggests that the government keep aiding citizens by offering business loans, streamlining business permits, reducing the percentage of income taxes, and offering business help.

Implementation of an integrated approach of the compliance system for the socio-economic development of the company

To ensure compliance with the law and the obligations assumed, the company needs a management system that will ensure this compliance. Compliance is an integral part of the management system and ensures compliance with the regulatory environment, the norms of corporate culture and business ethics; identifies risks of non-compliance of organizations and employees with legal norms, established regulatory rules and standards; carries out measures to eliminate the risks of applying legal sanctions or regulatory sanctions, significant financial loss or loss of reputation as a result of non-compliance with business regulations. In an organization, compliance is applied through the implementation of a compliance management system, which is a complex of interrelated and interacting elements of the organization to ensure its compliance with the requirements of the regulatory environment and achieve its goals. In the article, the author presented how to implement a compliance system in an enterprise.

Business Environment and Inclusive Growth Nexus: Evidence from African Countries

It is increasingly recognized that economic growth alone is not enough to guarantee the well-being of all. This is why the current debates on sustainable development are highlighting the need to promote inclusive growth in the world’s countries in general, and in developing countries in particular. And one way to achieve inclusive growth would be an improved business environment through better business regulations. This paper aims to analyze the relationship between business environment and inclusive growth in a sample of African countries over the period 2010-2018. The business environment is measured by the World Bank’s Ease of Doing Business index. Inclusive growth is measured by two proxies: 1) GDP per person employed and 2) an inclusive growth index constructed using Principal Component Analysis (PCA) method. In addition, we analyzed the above relationship in a static and dynamic framework. In the static framework, the business environment-inclusive growth relationship was analyzed by estimating a Panel Corrected Standard Error (PCSE) model as the baseline model and several other estimation models such as random-effects, fixed-effect Driscoll-Kraay, and pooled Ordinary Least Squares (pooled OLS). As for the dynamic framework, the study used the Generalized Method of Moments in system (System-GMM) estimation technique. The results show a positive and significant effect of business environment on inclusive growth. This result remains robust to the different estimation techniques used on the one hand and regardless of the measure of inclusive growth used on the other hand and suggests that a regulatory environment conducive to business activities is one way for African countries to achieve inclusive growth. From this result, policy recommendations have been formulated accordingly.

The Democracy Effects of Legal Polarization: Movement Lawyering at the Dawn of the Unitary Executive

The success of the conservative legal movement in reshaping the Supreme Court has unquestionably helped transform the substance of constitutional law in ways that advance the movement’s longstanding political agenda: reverse the civil rights-era constitutionalization of civil and social equality rights, and reduce government regulation of private sector business enabled by the modern administrative state. Less well understood is the movement’s role beyond the courts, and the range of ways it has shifted once shared norms that helped distinguish the practice of law from the practice of politics in the United States. This Article surfaces one example of that phenomenon, tracing the movement’s efforts beginning in the 1980s to advance a unitary exec-utive theory of constitutional power inside the Executive Branch. Inside the Department of Justice, these efforts functioned to kneecap a suite of post-Watergate ethics reforms designed to guard against cor-ruption or other misconduct by government lawyers. Outside the Department, aided by an increasingly polarized system of professional incentives the movement likewise pioneered, inadequate ethics ac-countability at the top of the profession functioned to undermine acceptance of professional norms more broadly. Among the norms most damaged: the belief that lawyers are bound by professional duties that transcend commitments to partisan loyalty. This recovered history in part underscores the extent to which judicial rulings are at best lag-ging indicators of legal revolutions. It likewise offers a case study of the structural consequences of theories of constitutional power engineered around circumstantial partisan interest. Above all, it illustrates how de-stabilizing the norms that support rule-of-law systems can weaken constitutional democracy across the board.

THE NEED FOR GOVERNMENT REGULATION OF SMALL BUSINESS

Currently, there are different opinions about the reasons for state regulation of the small business sector. According to the traditional theory, the government should intervene in the economy when the market fails to allocate resources efficiently, resulting in market "failure". In the framework of welfare theory, it is emphasized that the reason for market "failures" is not only monopoly, but also the existence of externalities (externalities). This article discusses the factors and functions affecting the regulation of small business by the state, and provides analytical information on its share in the main types of economy.

Legal regulation of cross-border energy transportation

In transportation business, special attention is paid to cross-border transportation of energy resources by various means of transport. Therefore, to evaluate legal regulation of transportation business, it is possible to dwell on the concept, international legal and national (Russian) legal regulation of cross-border energy transportation. There is no legal concept of cross-border transportation. Therefore, it should be defined based on some other sources. However, there is a concept of transboundary carriage defined as any carriage of hazardous wastes or other wastes from or through a jurisdictional territory of another state, to or through non-jurisdictional territory of any state, provided that such carriage involves at least two states. Legal regulation of cross-border energy transportation is an urgent issue in modern legislation. It will be useful to come up with a legal solution to regulate law enforcement activities. The author, exploring problematic issues, proposes to clarify and supplement laws in this area.

On the correlation of the terms "lethality" and "mortality" in the regulation of funeral business in the Russian Federation

On the correlation of the terms "lethality" and "mortality" in the regulation of funeral business in the Russian Federation

ГОСУДАРСТВЕННОЕ РЕГУЛИРОВАНИЕ МАЛОГО И СРЕДНЕГО ПРЕДПРИНИМАТЕЛЬСТВА В РОССИИ

The development of small and medium-sized entrepreneurship is a priority task of the state policy carried out in Russia, because small business allows solving economic and social problems, ensuring the sustainability and competitiveness of the national economy. The article considers various mechanisms of state regulation of small business in the Russian Federation, provides a list of existing measures to support small business. The analysis of the introduced regulatory measures is carried out, the state of SME at the present stage of development is assessed by the main economic indicators, by types of activities and in its spatial organization (in the context of federal districts), a comparative characteristic of the state of SME in Russia and foreign countries is given. According to the results of the research the main problems hindering the dynamic development of SMEs are formulated, the possibilities of their solution within the framework of the existing state development programs are shown.

ASSESSMENT ON THE IMPLEMENTATION OF BARANGAY MICRO BUSINESS ENTERPRISES ACT OF 2002 RELATIVE TO THE PROFITABILITY OF FOOD BUSINESSES IN VICTORIA, LAGUNA

Barangay Micro Business Enterprise (BMBE) law was enacted in 2002 in the Philippines to promote the growth of small and micro-enterprises in the food industry by providing tax incentives and simplified business registration procedures. This study aimed to analyze the effectiveness of BMBE implementation in the food industry, its impact on business profitability, and identify areas for improvement. A survey was conducted on 30 BMBE-registered sole proprietor food businesses in Victoria, Laguna, using a quantitative research method. The findings showed that the BMBE Act of 2002 has benefited micro- enterprises in the food industry, helping them reduce labor costs, comply with regulations, improve their financial status, and allocate more resources for economic expansion and growth. The study highlights the importance of government support for small businesses and suggests targeted interventions or support programs. The researcher recommends further research and promotion of BMBE registration, consistent and effective implementation, and guidelines for monitoring and evaluation.

Digital Currencies and Fintech Innovation Technologies for Economic Growth

The transition of the global economy to digital currencies is inevitable. Today’s monetary methods of regulation do not provide a stable and inclusive economy, and central banks will be forced to move on to the implementation of the state digital currency in real practice, which will ultimately allow introducing total control over the use of customer assets and strict business regulation,especially in the field of the shadow economy and tax crimes. The main factors for the transition to digital currencies aretechnological progress, an increase in online transactions, independence from national currencies, and low commissions. Thepurpose of the article is to assess the potential for economic growth of digital currencies and FinTech innovation technologies inthe context of growing government debts. The scientific novelty of the obtained results lies in the construction of a regression model of GDP growth dependence on inflation, government debt and the long-term interest rate. The regression analysis was conducted by building a linear multiple model for selected developed European countries based on statistical data from the European Central Bank, the European Commission, and other Internet resources. The equation of dependence of the GDP of European countries on the selected factors obtained as a result of regression modelling can be practically used to forecast future GDP indicators. The model showed that inflation growth has a negative impact on GDP growth and confirmed that further economic growth is possible with the introduction of digital currency, which will help to reduce the inflationary burden. The issuance of digital currency will be strictly controlled, which will contribute to the formation of an inclusive economy by attracting people who do not have bank accounts to business, and the shadow economy will be reduced. This will create opportunities for real economic growth. It is predicted that the introduction of digital currencies could lead to a faster, moreconvenient, cheaper and more private payment system, which is important for citizens and businesses.