Policies should use local institutions, groups of industries and inter-firm linkages to create and strengthen the micro-level In table 4.2, there is an obvious and convincing reason to submit that In this, the government will execute or implement a policy that will then change the social behavior in the small-scale business. INTRODUCTION. disagreement is quite enough to show that government policies has great impact on small scale industries i n Rivers State. Impact of Marketing Strategy on Business Performance A Study of Selected Small and Medium Enterprises (Smes) In Oluyole Local Government, Ibadan, Nigeria. 1.1 BACKGROUND TO THE STUDY. Although the effects of COVID-19 on the economy showed up quickly in the stock market, the real estate market and unemployment claims, the effects on small business are not well known because of the lack of timely business-level data released by the government. Statistics Sierra Leone , in collaboration with stakeholders such as the Bank of Sierra Leone, The National Social Security and Insurance Trust (N ASSIT), The National The Role of Microfinance Institutions in Financing Small ... (PDF) The role of Government policy and the growth of ... It covers MSEs that have access to microfinance for a period of at least five years (2010 - 2015). Changes in Nigeria's monetary and fiscal policies have not significantly impacted on the output on small medium scale Enterprises in Nigeria. The impact of COVID 19 virus threat to the MSMEs is addressed in detail covering the main sub-sectors. Success and failure of the business is, great extend, depend on the fulfilment of this duties. Therefore, the objective of this study impact analysis of tax policy and the performance of small and medium scale enterprises in Nigerian economy is to investigate impact of tax policy on the performance of small and medium scale enterprises in Nigerian economy. The study shall give an insight on how job There are some factors that affect success of the business in the service. PDF Analysis of Environmental Factors That Affects the Success ... "Effect of Government Policy and Regulations on the Growth of Entrepreneurial Women Micro and Small Enterprises in Trans Nzoia County, Kenya" 13 International Journal of Research in Business Studies and Management V3 I10 October 2016 to distribute incomes in both rural and urban areas, and within gender (RoK, MSME Survey, 2016). The research found out that there is a lot being done by the government in terms of the policy framework which gives the directions and impetus for the development of the This was premised on the government desire to support small-scale industries in the country as a way of meeting up with its commitment to the development plan and the indigenization policy. research shows that there is a significant relationship between government policy and business growth of Small and Medium Enterprises (SMEs) in South Western Nigeria. An Agency of the Department of Economic Development - Government of Dubai Slide | 7 Output → Productivity (economic growth) Inputs (Labor and capital) Reaching minimum scale Dubai's current situation in key sectors, e.g. THE IMPACT OF TAXATION ON SMALL BUSINESS E. GoRDoN KEITH* The impact of the federal tax system on small business has been a matter of in-creasing interest and concern to many persons durinj the last few years. 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. commissioned a Business Survey to assess the impact of Covid-19 on enterprises in Zambia. Micro-, Small and Medium Enterprises (MSMEs) and their potential contributions to SDGs While there still lacks a universally accepted definition, Micro-, Small and Medium CHAPTER THREE . Government Policies for Entrepreneurs - SlideShare THE IMPACT OF TAXATION ON SMALL SCALE BUSINESS IN A DEVELOPING ECONOMY (A CASE STUDY OF EKENE DILI CHUKWU NIGERIA LIMITED ENUGU). In Uganda, small scale enterprises are reported to contribute about 20% of Uganda's GDP. constitute the Small businesses' economic environment. ABSTRACT: Micro and small scale enterprises have been accepted worldwide as instrument of economic growth and development. contribution to the economy, scale wise composition, geographical distribution and employment is also given in the report. COVID-19 impact on Philippine business, the effects of the quarantine and lockdown measures, and what is needed to help the government develop economic bounce-back strategies as the crisis recedes. Drawing on a survey of more than 5,800 small businesses, this paper provides insight into the economic impact of coronavirus 2019 (COVID-19) on small businesses. system can affect small businesses differently as well, although the precise nature of that effect is less clear. Igbara, felis N, Emerenini Fabian, M. Daasi, Gibson L.K. (2017). GbolagadeAdewale, Adesola M.A, Oyewale I.O Department Of Marketing The Polytechnic, Ibadan Tel: 08033458715 Department Of Business Administration Osun State Polytechnic, Iree The MSME Policy Strategy was led by policy Policies for Entrepreneurs Keeping in view the contribution of small scale business in providing employment to the present generation, regional development of the country, promotion of exports and various policies are coming as a thrust that are targeting towards establishing, promoting and developing small business sector, particularly the . This situation has been of great concern to the government, citizenry, operators, practitioners and the organised private sector groups. •Real estate Reaching optimal scale •Decreasing returns for each additional unit of labor and capital Oni, E.O. The survey outcome will help government and private sector to understand the perspective of Small Businesses and thereby help to design the support measures accordingly. This has generated serious concern and sceptism on whether SME can bring about economic growth and national developments in Nigeria. The Business Survey was necessitated by the need to ascertain the socio-economic impact of Covid-19 on Large, Micro, Small and Medium-sized enterprises and Cooperatives. This study would be beneficial to small scale operators, students, bankers, financial institutions etc who desire to know more about the the role of the government in the growth of Small and Medium Industries (SMI). The Federal government singled out the small-scale enterprises as the key area of intervention. "The Impact of Government Policies on the Growth of Small and Medium Scale . Micro, Small and Medium Enterprises in India offer a heterogeneous and varied nature of fabric in terms of the size and structure of the units, variety of products and services, scale of production and application of technology. Young adults between 18-25 years of age make up 20% while elderly people make up 26.7% of the study. In Nigeria, the government at federal, state and local government level creates and implements policies meant to alleviate and regulate commercial activities and most times, these policies actually have a positive effect. Oman Chapter of Arabian Journal of Business and Management Review, 34(962), 1-14. important to scale up their business from the . These results indicate the need for the Nigeria government to formulate and implement policies that will help ensure the optimal performance and subsequent Get free Research Paper on the impact of government policy on the growth of small and medium scale business in Nigeria project topics and materials in Nigeria. ii. economy trend and tax assessment by government (Arbor, 2005). The impact of COVID-19 on small business outcomes and expectations * Alexander W. Bartik, Marianne Bertrand, Zoe Cullen, Edward L. Glaeser, Michael Luca, and Christopher Stanton Abstract To explore the impact of COVID on small businesses, we conducted a survey of more than 5,800 small businesses between March 28 and April 4, 2020. Small and Medium Enterprises (SMEs) in Nigeria have not performed creditably well and hence have not played the expected vital and vibrant role in the economic growth and development of Nigeria. policies in small scale business. This study examined the impact of government interventions on Small Scale enterprise in Mubi North local government Area. 4, No. grow. 1, No.11; July 2012 110 Objectives of the study The primary objective of this study was to establish the impact of small and medium scale enterprises on employment creation and the role of this on sustainable development of the Nigerian economy. Fred M. Simiyu et al. Small-scale business was defined in a study carried out by the Government of Sierra Leone (1974) as an establishment employing less than 50 persons. The results shed light on both the financial fragility of many small businesses, and the significant impact COVID-19 had on these businesses in the weeks after the COVID-19-related disruptions began. the performance of small scale industries. [g] To assess the level of consumers' preference to imported goods and determine the rate at which it affects the establishment and activities of small scale enterprises in Over the years, small and medium scale enterprises (SMEs) have been an avenue of job creation and the empowerment of Nigerian citizens, providing about 50% of all jobs in Nigeria and also for local capital formation. be referred to as a small or medium scale enterprise. However, because small business policy has always attracted direct and indirect subsidies to businesses identified as sufficiently 'small' (Levine 2005), definitions have gradually shifted towards more objective size thresholds that could be unambiguously enforced. 1. 1.6 SIGNIFICANCE OF THE STUDY. some studies show a large number of small enterprises fail because of non-financial reasons (Liedholm, MacPherson & Chuta, 2007). Government Policy Framework and SMEs (1) • The vision of the Government of Sri Lanka is to double the country's per capita income to US$4,000 by 2016 and consolidate Sri Lanka as an emerging economy. The most commonly used incentive by the government is tax holiday, but this provision 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 . I B reulatIoN research outreach u.s. small BusINess aDmINIstratIoN Issue BrIef NumBer 16 release Date: march 2021 The Effects of the COVID-19 Pandemic on Small Businesses DaNIel WIlmoth, research ecoNomIst offIce of aDvocacy, u.s. small BusINess aDmINIstratIoN In March 2020, the COVID-19 pandemic arrived in the United States. Before the Committee on Small Business United States House of Representatives March 10, 2020 hairwoman Velázquez, Ranking Member Chabot, and members of the committee, thank you for inviting me to testify on the impact of the coronavirus outbreak on the economy in China and small and medium-sized enterprises (SMEs) there. MSME Policy Strategy, 2012 is a product of a thorough analysis of the sector in Malawi and an informed and extensive consultative process that involved representatives from government, business, civil society, MSME associations and international developments agencies over fourteen months. the impact of government policy on the growth of small and medium scale business in nigeria smes03405: the role of an auditor in small business organisations smes37651: effect of environmental factors on the performance of small and medium scale business in nigeria smes06724 Which policy do you believe is the most effective for your company? 2 The Impact of Business Environment on Small and Medium Enterprise Sector's Size and Employment: A Cross Country Comparisson. [f] To ascertain whether or not government policies have been favourable to the establishment of small scale enterprises especially as it concerns power supply. For the purposes of this study a Small and Medium . As the first country hit This study assesses the role of government in promoting small scale businesses in Kogi State, Nigeria with special focus on Kabba/Bunu Local Government Area. This paper examines the initial impact on MSMEs of the ECQ and lockdown measures using evidence obtained from a rapid nationwide survey conducted from the end of March to mid- April 2020 and derives policy implications. It is expected that the gains to be derived from the establishment of small-scale industries will be translated into the generation of employment at a low investment cost. H4: There is a significant relationship to show that finance option can affect Small scale business. Introduction According to Chen (2005) the persistence of poverty worldwide is a major challenge of the 21st century; more Ho: There is no significant relationship to show that finance option can affect Small scale business. The study scrutinizes the problems and contribution small scale business in Enugu state and the role it played in the overall employment generation of the economy. Over the years, small and medium scale enterprises have been an avenue of job creation and the empowerment of Nigeria's citizen, providing about 50% of all jobs in Nigeria and also for local capital formation. European Journal of Business, Economics and Accountancy Vol. This means more middle aged people are involved in small business activities. Pulka, B.M., Ramli, B.A., & Bakar, S.M. Government policies that affects Small and Medium Scale Enterprises (SMEs) by Gbenga Agoye February 10, 2018 in Economy & Politics, Financial Literacy Dr. Godwin Emefiele, Governor, CBN Every business operates within an economic environment and are therefore susceptible to the changes that takes place in the economic policies overtime. This research work was on "the impact of government policies on small business development in Nigeria with reference to ministry of cooperate affair commission, Enugu state". "Effect of Government Policy and Regulations on the Growth of Entrepreneurial Women Micro and Small Enterprises in Trans Nzoia County, Kenya" 13 International Journal of Research in Business Studies and Management V3 I10 October 2016 to distribute incomes in both rural and urban areas, and within gender (RoK, MSME Survey, 2016). The report provides a rich set of initial facts and ideas for the government to develop evidence-based policymaking This is mainly by small holders who may not even fit the definition of a micro and small business (Tolip and Bitekerezo, 1993). Age: The result shows that majority of the small business operators are between the ages of 26-45 years old which makes up about 53.3% of the study. Disclaimer : The views expressed in this article are solely of the author and do not reflect the policy of COMESA. The study has become imperative because of an increasing inability of Small Scale enterprises to live up to expected target as the engine for economic growth and development, despite government encouragement in this direction. It also proposes what can be done to mitigate the negative effects of the pandemic on the sector. Since the adoption of the economic reform programme in 1986, there has been a decisive shift from grandiose, capital intensive and large scale industrial projects based on import substitution to small scale industries with immense Sule, Ozohu . Despite government institutional and policies support to enhancing the capacity of small and medium scale enterprises, small and medium scale enterprises has fallen short of expectations. No wonder that government, particularly in the developing countries has made tremendous efforts and establish policies to enhance the capacity of micro and small scale enterprises (MSEs). National Policy on MSMEs 5 FOREWORD This National Micro, Small and Medium Enterprises Policy is our concerted response to the challenge of developing the sub-sector of the Nigerian economy in a structured and efficient This study is on the effects of multiple taxation on the performance of small and medium scale enterprises (SMEs). Policy Brief: the Role of Micro-Small and Medium Enterprises in Achieving SDGs Prepared by Clark Ke Liu 1. Comprehensive Policy Package for small scale and tiny sector, 2000: This policy was declared by the Government of India for the development and promotion of small scale and tiny sector which has major objective to increase the competitiveness of the sector. Study by Tushabonwe-Kazooba, (2006) asserted that poor record keeping and lack of basic business management experience and skills are major contributors to failure of small business. market economies - micro, small and medium-scale enterprises. Every notable task always has its own ups and downs. Abia State has been chosen because of its republican nature and the hub of small-scale business operations in Nigeria. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed County Government of Kiambu- the research will assist the county government of Kiambu when formulating (2015), studied the impact of cashless policy on small scale business in Ogoni Land River State, Nigeria. H3: There is evidence to show that workers implement management policies in small scale business. small and medium scale industries as a means of reducing the incidence of poverty and unemployment in the country. In their findings the level of adoption of cashless policy statistically was low and had negative impact on the performance and growth of small scale business in Ogoni Land. Kuwait Chapter of Arabian Journal of Business and Management Review Vol. CHAPTER ONE. A summary of the relief measures introduced by the Government of Sri Lanka and the present status of the Scale Enterprises with effect from January 1971. National Policy on MSMEs 5 FOREWORD This National Micro, Small and Medium Enterprises Policy is our concerted response to the challenge of developing the sub-sector of the Nigerian economy in a structured and efficient 1.6 SIGNIFICANCE OF THE STUDY. Under pressure to better plan and evaluate their interventions, government with which it can encourage the small and medium enterprise include: reduced cooperation tax through reduced tax, flat rate, tax exemption and tax stability agreement and subsidy or grant and tax holiday and investment allowance. his paper discusses the crucial role of Micro Small and Medium Enterprises (MSMEs) in Africa and the impact of COVID-19 on the sector. The Central government of Kenya- for the purpose of policy formulation that will create a suitable environment for the small and micro entrepreneur to increase business growth and the consequent social standard improvement. HA: Government policy does affect the growth of small and medium scale enterprise. Programmes and Schemes established and designed to enhance the business operations of SMEs. A strategy implication of the owner-manager is highly depending on data about these factors. Questionnaires were distributed among forty (40) small scale business owners randomly selected. The impact of COVID-19 on small business outcomes and expectations Alexander W. Bartika, Marianne Bertrandb, Zoe Cullenc, Edward L. Glaeserd, Michael Lucac,1, and Christopher Stantonc aDepartment of Economics, University of Illinois at Urbana-Champaign, Urbana, IL 61801; bBooth School of Business, The University of Chicago, Chicago, IL 60637; cHarvard Business School, Boston, MA 02163; and . 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. • This requires a growth rate of around 8 percent to be maintained over the years. THE IMPACT OF GOVERNMENT POLICY ON THE GROWTH OF SMALL AND MEDIUM SCALE BUSINESS IN NIGERIA . In April 1980, loans and advances available to Small and Medium Scale Enterprises rose from 10% to 20% in January, 1991. The results show that there is a positive correlation . stage, but micro, small, and medium-sized enterprises (MSMEs) are continuing to confront a sharp drop in demand and revenue. II. 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 . These enterprises are quite complementary to the large scale industries as ancillary units. Significance of the Study This study tries to examine the impact of microfinance Banks on the growth of SMEs and thus economic growth in Nigeria from 1970 to 2011. If the tax rates are high, the profit margins of the firms becomes too small to improve on the scale and size of the business as the SMEs will hardly have enough capital to re-invest. For the purpose of this article, we are going to discuss the effect of government policies on business in Nigeria. 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effect of government policy on small scale business pdf