Zeeshan Ejaz Clip 009

Is the SME Business Scenario Over-Regulated?

Overview of Regulation in SMEs

• The speaker discusses whether the SME business scenario is over-regulated or under-regulated, concluding that it is indeed over-regulated from various perspectives, including taxation.

• There are numerous regulations (around 600), but their implementation is lacking, leading to complications in compliance and operations for businesses.

Challenges Faced by SMEs

• The speaker highlights issues with quarterly statement filings, indicating that systems often fail, which complicates compliance efforts for chartered accountants.

• Acknowledges that while some complications are inherent due to man-made laws, there are also beneficial complexities that can arise as businesses evolve.

Role of Chartered Accountants

• Emphasizes the importance of chartered accountants in navigating these regulatory challenges and managing the operational aspects of businesses amidst systemic failures.