Corruption in the private sector is widespread and costs the economy greatly while undermining efforts to reduce the poverty rates in the country. In order for small and medium enterprises to grow, they need to put their incomes into business related transactions and not those that aren’t such as corruption.
This report highlights persistent corruption pertaining to small and medium enterprises in their efforts to comply with laws and regulations that concern them. It addresses the forms of corruption which take place and how rampant they are, the reasons for which small and medium enterprises take part in these forms of corruption, and the negative impacts of corruption on small and medium enterprises and their growth. Furthermore, it discusses measures to help small and medium enterprises not take part in the said forms of corruption and puts forth recommendations towards reducing the said forms of corruption