An Analysis of Government Support Programs for Small Business Development and Growth

Abstract

<p class="normal">Small and medium-sized businesses (SMEs) are very important for many countries' economic and social growth. They constitute a significant proportion of employment, innovation, and value creation across diverse sectors and regions. But small businesses also have many problems that make it hard for them to grow and be good at what they do. For example, they might not have enough money or the right tools or information to compete. To help small businesses succeed, governments around the world have created programs and policies that give them money, help with their business needs, and help with their organization.</p><p class="normal">The impact of government support programs on SME development and growth holds significant interest and significance for policymakers, researchers, practitioners, and entrepreneurs. Nonetheless, the evidence regarding the efficacy and efficacy of these programs is ambiguous and uncertain. Some studies have shown that government support helps SME performance indicators, such as sales, profits, employment, productivity, innovation, and exports. Other studies have found that government support for SME outcomes is negative or doesn't affect them at all, or that there is a lot of variation among different types of programs, beneficiaries, contexts, and methods.</p>This paper aims to provide a comprehensive and critical analysis of the literature regarding the impact of government support programs on the development and growth of small and medium enterprises. It includes both theoretical and empirical studies that examine the rationale, design, implementation, evaluation, and outcomes of various forms of government support for SMEs. A <em>questionnaire based survey</em> consisting of geographically unique SMEs was conducted. 68 SMEs had opted to provide responses to the questionnaire based on research the hypothesis of this study. In addition, it discusses the main challenges and limitations of the existing literature, and provides recommendations for further research and practice.