IIARD International Institute of Academic Research and Development

Journal of Business and African Economy (JBAE )

E-ISSN 2545-5281
P-ISSN 2695-2238
VOL. 10 NO. 5 2024
DOI: 10.56201/jbae.v10.no5.2024.pg36.55

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Impact Of Government Policies on Entrepreneurial Relationships (Navigating Regulatory Challenges in Nigeria)

Nwabuatu, Emmanuel Nnajiubah. Ph. D

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Abstract

This study examines the impact of government policies on entrepreneurial relationships, focusing on how regulatory challenges shape business dynamics in Nigeria. A cross-sectional study design was employed, analyzing data from secondary sources, including government policy documents, industry reports, and academic studies. Content and thematic analysis were used to identify key regulatory challenges and entrepreneurial adaptation strategies. The study also included case studies of technology startups and small manufacturing businesses to illustrate the diverse effects of regulatory frameworks. Findings revealed that unstable and overly complex regulatory environments, particularly in taxation, labour laws, and licensing, significantly hinder entrepreneurial relationships. Entrepreneurs face high compliance costs, limited access to partnerships, and reduced investor confidence, with small and medium-sized enterprises (SMEs) being disproportionately affected. Government policies often fail to strike a balance between economic growth and regulatory enforcement, exacerbating challenges for entrepreneurs in maintaining stable partnerships, attracting investments, and fostering consumer trust. Adaptation strategies identified include investment in compliance innovations, lobbying for regulatory reforms, and operational adjustments such as diversification and technology adoption. However, the study highlights gaps in current regulatory frameworks, including inconsistent enforcement and a lack of supportive policies tailored to SMEs' needs. The study concludes that regulatory challenges significantly impact entrepreneurial relationships, limiting business resilience and growth in Nigeria’s dynamic market. Recommendations include streamlining regulatory processes, introducing phased tax compliance for SMEs, fostering public-private partnerships for regulatory development, and promoting compliance technology to reduce administrative bur

keywords:

Government Policies, Entrepreneurial Relationships, Regulatory Challenges, Policy

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