NAVIGATING BUSINESS COMPLIANCE AND SUCCESS NOSTRUM: A GUIDE FOR LECTURERS ENTREPRENEURS

Abstract

Lecturers in institutions of higher learning have for many years taken an active role in practical entrepreneurship ventures. There is overwhelming evidence that shows that entrepreneurship significantly contributes to economic development. In fact, entrepreneurial activities amongst the lecturers potentially lead to significant economic growth with high possibilities of creating employment and numerous business opportunities to the communities. Some of the benefits of entrepreneurship might include solving some critical societal problems hence contributing to quality of life while at the same time helping to enhance lecturers’ retention within institutions of higher learning. However, there is low business compliance amongst the lecturers’ entrepreneurs which has significantly negatively affected the potential for growth and sustainability. The study aimed at ascertaining the levels of business compliance with regulatory authorities (ZRA,PACRA,NAPSA & local authorities) amongst the lectures involved in entrepreneurship ventures in institutions of higher learning. Furthermore, the study sought also to establish the relationship between business compliance and entrepreneurial growth. It employed a pragmatic research philosophy and used a mixed design approach specifically an embedded correlational model, in which qualitative data was embedded within a quantitative design. Data was collected using questionnaires’, interviews guides and focused group discussions. Qualitative data was analyzed using regression analysis while thematic analysis was employed to analyze qualitative data. It was established that there was low business compliance amongst the lecturer entrepreneurs in institutions of higher learning in Zambia.  Further, business registration had a significant positive effect on the growth of entrepreneurship ventures