Since the start of the pandemic, business compliance, which refers to how well a company follows the laws and regulations set by the government for its type of business, has seen a considerable decline in attention and relevance across the globe. A recent study by Financial Sector Deepening Uganda found that as many as 20% of businesses in Uganda are unregistered – likely a result of the fact that 25% of respondents don’t know how to register or simply find the registration process too complicated.

While other priorities have certainly been more top of mind for business owners due to Covid-19, this compliance gap creates issues for governments and businesses alike. For governments, non-compliance means that officials lack the data to properly assist Micro-, Small and Medium-Sized Enterprises (MSMEs) in tough times while also missing out on revenue necessary for public works. More importantly, businesses lose the chance to access government assistance and funding opportunities that arise from registering and operating a compliant business.

To better understand the challenges business owners face in this arena and support you in overcoming them, the Covid-19 Business Info Hub’s October theme explores the world of business compliance. Throughout the month, we’ll carry out interviews with Uganda’s regulatory officials, private sector experts, and representatives from our in-house Stanbic Business Incubator Limited to shed light on the different kinds of business compliance, deep dive into potential benefits like investment and financing opportunities, and help you get started on the path to achieving compliance to unlock new pathways to growth no matter where along that road you currently are.

Our October content will cover all these subjects and more – allowing Uganda’s business owners a chance to add an often-overlooked piece to their overall business strategy. The Covid-19 Business Info Hub’s October theme will be accompanied by information on funding and training opportunities and our recently launched Compassionate Leadership webinar series. We look forward to sharing these insights with you as we unearth the complex world of Uganda’s regulatory compliance environment.