Manuscript Number : SHISRRJ221226

Advanced Review of SME Regulatory Compliance Models Across U.S. State-Level Jurisdictions

Authors(6) :-Onyeka Kelvin Chima, Sandra Orobosa Idemudia, Onyinye Jacqueline Ezeilo, Benjamin Monday Ojonugwa, Akoche Ochefu, Michael Olumuyiwa Adesuyi

Small and Medium-sized Enterprises (SMEs) serve as the backbone of the United States economy, contributing significantly to employment, innovation, and economic growth. However, navigating the complex and often fragmented regulatory landscape across various U.S. state-level jurisdictions presents substantial challenges for these enterprises. This paper provides an advanced review of SME regulatory compliance models across U.S. states, aiming to identify patterns, divergences, and best practices that can inform policy development and support mechanisms for SMEs. The study employs a mixed-methods approach, combining quantitative analysis of regulatory frameworks with qualitative insights from SME stakeholders. Data were collected from state statutes, regulatory agency guidelines, and interviews with SME owners and compliance officers across diverse industries and regions. The analysis focuses on key regulatory domains, including labor laws, environmental regulations, taxation, and data privacy. Findings reveal significant variability in regulatory requirements and enforcement practices across states, leading to compliance complexities for SMEs operating in multiple jurisdictions. Some states have implemented streamlined processes and support structures that facilitate compliance, while others maintain more rigid and complex systems. The study identifies models of regulatory frameworks that balance the need for oversight with the operational realities of SMEs, highlighting the importance of clarity, accessibility, and support in regulatory compliance. The paper concludes with recommendations for policymakers to harmonize regulatory requirements where feasible, enhance support systems for SMEs, and adopt best practices from states with effective compliance models. By addressing the regulatory challenges faced by SMEs, states can foster a more conducive environment for these enterprises to thrive, thereby strengthening the overall economy.

Authors and Affiliations

Onyeka Kelvin Chima
Africa Capital Alliance, Ikoyi, Lagos. Nigeria
Sandra Orobosa Idemudia
Independent Researcher, Abuja, Nigeria
Onyinye Jacqueline Ezeilo
Independent researcher, Abuja, Nigeria
Benjamin Monday Ojonugwa
Independent Researcher, Lagos, Nigeria
Akoche Ochefu
Benue State Civil Service Commission, Benue, Nigeria
Michael Olumuyiwa Adesuyi
First Bank of Nigeria Ltd, Kano, Nigeria

Small and Medium-sized Enterprises (SMEs), Regulatory Compliance, State-Level Regulation, Policy Harmonization, Compliance Models, Economic Development

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Publication Details

Published in : Volume 5 | Issue 2 | March-April 2022
Date of Publication : 2022-03-30
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 191-209
Manuscript Number : SHISRRJ221226
Publisher : Shauryam Research Institute

ISSN : 2581-6306

Cite This Article :

Onyeka Kelvin Chima, Sandra Orobosa Idemudia, Onyinye Jacqueline Ezeilo, Benjamin Monday Ojonugwa, Akoche Ochefu, Michael Olumuyiwa Adesuyi, "Advanced Review of SME Regulatory Compliance Models Across U.S. State-Level Jurisdictions ", Shodhshauryam, International Scientific Refereed Research Journal (SHISRRJ), ISSN : 2581-6306, Volume 5, Issue 2, pp.191-209, March-April.2022
URL : https://shisrrj.com/SHISRRJ221226

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