Due process for legislative and regulatory review and framework for
regulatory impact analysis (RIA) to make sure that existing and new
legislations and regulations would not impose burden on SMEs.
After an enterprise is formalized, it will face various regulatory burdens which
may affect SMEs disproportionately because the capacity of SMEs to tackle, understand
and comply with complex regulation is limited. Simplifying the regulation and making
it more transparent supports entrepreneurship and market entry, and is therefore integral
to the development of SMEs.