Select Currency
Translate this page

THE IMPACT OF GOVERNMENT POLICY ON THE GROWTH OF SMALL AND MEDIUM SCALE BUSINESS IN NIGERIA

Format: MS WORD  |  Chapter: 1-5  |  Pages: 72  |  577 Users found this project useful  |  Price NGN3,000

  DOWNLOAD THE FULL PROJECT

THE IMPACT OF GOVERNMENT POLICY ON THE GROWTH OF SMALL AND MEDIUM SCALE BUSINESS IN NIGERIA

 

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND TO THE STUDY

Policy is defined in the Merriam-Webster Online Dictionary as a definite course or method of action selected from among alternatives to guide and determine present and future decisions. Policy can also be defined as making decisions that reflect values and allocating resources based on those values. Thus, policy represents a particular political, ethical, or programmatic viewpoint. Governmental policy reflects theoretical or experiential assumptions about what is required to resolve a particular issue or problem (Obi, 2001). At the federal and state levels, governmental policy is reflected in multiple venues:

The federal and state constitutionsset the general framework, as interpreted in specific instances through court decisions. The chief executive’s agendais presented through speeches, press releases, “State of the State” and budget messages to the legislature, executive orders, and instructions to department heads. Legislative policyis expressed in speeches and press releases by the leadership and formulated in policy and appropriation bills. It is not generally recognized that budgets, expressed in appropriation acts and taxes, are critical statements of social policy. Budgets distribute resources and determine what government can and cannot do. They may or may not provide stable resources for governmental services (Bacdon, 2004).

Policy can also be found in the determinations and decisions of state department heads and middle management. Their decisions or actions determine how legislative policy and broad governmental mandates are actually translated into services. Policy is reflected in strategic plans and policy memoranda (EKSG, 2014). It is translated and carried out through rules and regulations, manuals, requests for proposals, contractual agreements, enforcement actions, and so forth. However, many researchers has proved in the past that government policies do influences small and medium scale enterprises. Small and medium enterprises are believed to be the engine room for the development of any economy, because they form the bulk of business activities in a growing economy like that of Nigeria (Basil, 2005). This is manifested in the following ways, Employment generation, rural development, Economic growth and Industrialization, Better Utilization of Indigenous Resources.

Governments create the rules and frameworks in which Small and medium scale enterprises are able to compete against each other. From time to time the government will change these rules and frameworks forcing small and medium scale enterprises to change the way they operate (Essien & Udofia, 2006). Small and medium scale enterprises are thus keenly affected by government policy. Key area of government policy that affects business is taxation policy. Taxation policy affects business costs. For example, a rise in corporation tax (on business profits) has the same effect as an increase in costs. Small and medium scale enterprises can pass some of this tax on to consumers in higher prices, but it will also affect the bottom line. Other business taxes are environmental taxes (e.g. landfill tax), and VAT (value added tax). VAT is actually passed down the line to the final consumer but the administration of the VAT system is a cost for business (Ikherehon, 2002). Moreover, the government of the day regularly changes laws in line with its political policies. As a result small and medium scale enterprises continually have to respond to changes in the legal framework (Izedomi, 2011). However, the researcher will in this chapter provide an introduction on the impact of various government policies on Small and medium scale enterprises

1.2   STATEMENT OF THE PROBLEM

The term government policy can be used to describe any course of action which intends to change a certain situation. Think of policies as a starting point for government to take a course of action that makes a real life change (Ekezie, 1995). Government uses policy to tackle a wide range of issues. In fact, it can make policies that could change how much tax you pay, parking fines, import and export duties, immigration laws and pensions (Ireghan, 2009). However in Nigeria, government has come up with various policies aimed at investing in and boosting the Small and medium scale enterprises to generate employment and reduction of poverty but there has been issues of poor implementation. Policies can also be changed by government when is not effective, also when they create a policy it can be made to affect specific groups of people or everyone in society. Other government policies concerning issues such as subsidies, interest rates, exchange rates and public-private partnerships also influence the growth of small and medium scale enterprises (Iromaka, 2006). However, the researcher is seeking to examine the impact of government policies on the growth of small and medium scale enterprises in Nigeria. 

1.3   OBJECTIVES OF THE STUDY

The general objective of this study is to examine the impact of government policy on the growth of small and medium scale enterprise while the following are the specific objectives

. To ascertain the impact of government policy on the growth of small and medium scale enterprise.

. To determine the nature of government policy that can influence the growth of small and medium scale enterprise.

. To identify factors limiting the growth of small and medium scale enterprise.

1.4   RESEARCH QUESTIONS

. What is the impact of government policy on the growth of small and medium scale enterprise?

. What kind of government policy can influence the growth of small and medium scale enterprise?

. What are the factors limiting the growth of small and medium scale enterprise?

1.5   HYPOTHESIS

HO: Government policy does not affect the growth of small and medium scale enterprise

HA: Government policy does affect the growth of small and medium scale enterprise

1.6   SIGNIFICANCE OF THE STUDY

This study on the impact of government policy on the growth of small and medium scale enterprises will enlighten the entrepreneurs and the general public on how government policy can positively or negatively affect the growth of small and medium, scale enterprises. It will as well be a useful guide for the government in formulating policies that will contribute to the nation’s GDP through the growth of small and medium scale enterprises. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.

1.7   SCOPE/LIMITATIONS OF THE STUDY

This research will cover the overview of the different government policies and how they can influence the growth of small and medium scale enterprises. It will also covers investigations into different kinds of government policies and how they affect the growth of small and medium scale business. Factors that generally affect the growth of small and medium scale enterprises will also be considered in this research.

1.8   DEFINITION OF TERMS

Government policy: A plan or course of action, as of a government, political party, or business, intended to influence and determine decisions, actions, and other matters

SMEs: an enterprise that has asset base (excluding land) of between N5million –N500 million and labour force of between 11 and 300.

Tax: a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions

Subsidies: a sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low.

Economy: the state of a country or region in terms of the production and consumption of goods and services and the supply of money.

 

REFERENCES 

Anyanwu, A. (2001). Small and Medium Enterprises (SMES) In Nigeria: Problems and Prospects, Ph.D. Thesis, St. Clements University, pp. 79-82.
Bacdon, C.T. (2004). Small Scale Industries and Economic Development in Ghana: Business and Strategies in informal sector Economics, VerlagBreitenbech, Saarbruckh, Germany, pp. 19-23.

Basil, A.N.O. (2005) Small and Medium Enterprises (SMES) In Nigeria: Problems and Prospects, Ph.D. Thesis, St. Clements University, pp. 46-59.

Ekezie, C. (1995). Breakdown of Business Ventures in Nigeria, in Gladwin, A. (2000) (ed.) Entrepreneurship: a conceptual approach. Lagos: Concept Publishers Limited, p. 69

Essien, P. and Udofia, A. (2006). Evolving a National Framework for the Emergence of a Strong and Virile Small and Medium Scale Industry Sub-Sector in Nigeria. A Seminar Paper Presented at MAN House, November 5th, p3.

Government of Ekiti State (2014). Internal Economic Policy: A reliable tool for Rapid Development. Retrieved from http:// ekiti state.gov.ng
Ikherehon, I.G.(2002).The Practice business guide for the entrepreneur in Africa. Lagos: Pathead Enterprises, p. 88.

Ireghan, C. (2009). Small Scale Business Development in Nigeria., in Ireghan, C. (ed.) The Place of Small and Medium Scale Business in the development of a nation State. Nigeria: Lagos, Kaycee Publishers, pp. 79.

Iromaka, C. (2006). Entrepreneurship in small business firms. Ikeja: G-Mag. Investments Ltd, (Educational Publishers), pp. 49-56.

Izedomi, A. (2011). Principles of Management, Nigeria: Benin, Alfred-Joe Publishers, pp. 73-78
Obi, P. (2001). Ensuring the Socio-Economic Growth of a Nation. A Paper Presented at a Conference in Johannesburg, between 12th and 15th December, p. 8.

  DOWNLOAD FULL PROJECT

Not What You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 541 351 187


Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys šŸŒŸ šŸŒŸ šŸŒŸ šŸŒŸ
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause Iā€™ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!