Abstract
The study examines the effect of government policy on the growth of small and medium enterprises (SMEs) in Anambra State. The study was anchored on the business growth theory. Descriptive survey design was adopted. The Population was 1,200 SME operators in Anambra State. The sample size of 300 SMEs was employed using Yamane’s formula. Questionnaire was the major instrument of data collection used in the study. Regression was used to analyse the formulated hypotheses in the study. The study discover that government credit policy granted, government tax policy and government licensing policy has a significant positive effect on the growth of small and medium enterprises in Onitsha North Local Government area, Anambra State. The study concludes that government policy has a positive significant effect on the growth of Small and Medium Scale Enterprises. The study recommends among others that government should reassess its various policies put in place to alleviate negative effect on credit policy on the growth of SMEs in Anambra State, Nigeria. Government should develop a system for tax payment so as to enhance efficiency in tax collection and payment
Highlights
In all economies, both industrial and emergent nations, and fast growing economy, there is a agreement among the law makers, administrator’s researchers, supporter and non-governmental organizations, that small and medium enterprises (SMEs) are the powerful force for industrial growth, economic and sustainable growth
The study examines the effect of government policy on the growth of SMEs in Anambra State
The result shows that Government credit regulations granted, Government tax laws and Government Licensing policy has a significant positive effect on the growth of SMEs in Anambra State
Summary
Both industrial and emergent nations, and fast growing economy, there is a agreement among the law makers, administrator’s researchers, supporter and non-governmental organizations, that SMEs are the powerful force for industrial growth, economic and sustainable growth. SMEs are regarded as the strength of economic enlargement and reasonable growth in emergent economies They are labour demanding, capital saving and able to create more than one billion new jobs the humanity need by the end of the century. STATEMENT OF THE PROBLEM SMEs in Nigeria have not achieved it objectives projected, but have to vital position in the expansion of the economy of the nation This role has been of interest to many, like the government, practitioners, citizenry and some private sector. SMEs in Nigeria is faced with numerous problems ranging from poor sources of finance, poor infrastructural facilities such as power supply, good road, water supply among others, in the setting were the business was recognized, and unproductive and bad government policies, which is the focused of this study. This study seeks to investigate government laws on the growth of SMEs
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