Impact of Government Grant on Growth of Small and Medium Scale Enterprises in Nigeria (A Study of Some Selected SMEs Owners in Abeokuta, Ogun State)

Abayomi Olusegun Ogunsanwo and Gbenga Akanmu Kazeem
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Abayomi Olusegun Ogunsanwo: Department of Business Administration and Management, Federal Polytechnic, Ilaro, Nigeria.
Gbenga Akanmu Kazeem: Department of Business Administration and Management, Federal Polytechnic, Ilaro, Nigeria.

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 11, 65-71

Abstract: In this study, the effect of government incentives on the expansion of small and medium-sized businesses was evaluated. The study’s goals were to ascertain the effect of government grant availability, the effect of grant accessibility, and the sufficiency of grant on the expansion of small and medium-sized enterprises. The research design used in the study was a descriptive survey. The research instrument was a structured questionnaire. Three hundred and sixteen (316) SME owners made up the study’s population, and a sample size of one hundred and seventy seven (177) was chosen. Statistical Package for Social Sciences’ (SPSS) multiple regression analysis was used to assess the hypotheses developed for this study). The study’s conclusions showed a favorable association between government grant availability, accessibility, and sufficiency and the expansion of SMEs in Nigeria. This is clear from the fact that the p-value of the t statistic for the three independent variables is less than 5% (P=00.0000.05). The government should boost the different grants and resources made available for the operation and establishment of small and medium scale businesses in Nigeria, according to the results and recommendations. This will encourage more Nigerian small- and medium-scale business owners and operators.

Date: 2022
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