Browsing by Author "MUSONDA, Chishimba"

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    The Socioeconomic effects of regulatory compliance costs on food processing Micro, Small and Medium Enterprises: A Multi-Stakeholder Assessment
    (University of Lusaka, 2025) MUSONDA, Chishimba
    Micro, Small and Medium Enterprises, known as MSMEs, are crucial to Zambia's economy, making up 97% of businesses, contributing 70% to the GDP, and employing 88% of the workforce. However, these businesses face challenges, especially from the costs of meeting regulations, which hinders their growth, market reach, and financial health. Focused on 50 food processing MSMEs in Lusaka, the research adopts a qualitative approach, employing Google Forms for data collection from the respondents and Google Meet Interviews for qualitative insights from key informants. The research highlights the significant impact of regulatory compliance expenses on Micro, Small, and Medium Enterprises (MSMEs), resulting in workforce downsizing and restructuring. Consumers exhibit a predilection for patronizing MSMEs owing to their affordability and interpersonal rapport with proprietors, thereby underscoring a proclivity towards supporting local businesses. Moreover, consumers demonstrate a discernible willingness to incur higher costs for food products to ensure their safety. Notably, the study uncovers a lack of strategies among MSMEs to mitigate these costs. Recommendations include proactively budgeting for compliance costs to avoid financial strain, leverage consumer preferences for affordability, and the consolidation of certain taxes into annual payments. Collaboration with private sector organizations is advised to enhance regulatory efficiency and leverage industry expertise. The study underscores the need for broader research encompassing a diverse MSME sample to enhance generalizability. Future research should explore additional facets beyond financial health, production, marketing and sales, business performance, and growth. Keywords: Regulations; Financial Health, Socio-economic wellbeing, Consumers, Affordability