Regulatory barriers hampering SME growth

Small and Medium Enterprises (SMEs) are sounding the alarm over rising compliance costs, which are stifling business growth and innovation. From losing supermarket shelf space due to the absence of digital tax stamps to facing certification fees of up to UGX 2 million per product, entrepreneurs say the cost of doing business is becoming unbearable. In response, the Federation of Small and Medium Enterprises wants the government to grant grace periods to startups and streamline regulatory processes.