The Role of Taxation in SME Growth in Wukari LGA
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Background of the Study
Taxation can play a dual role in the growth of SMEs, acting as both a source of government revenue and a factor influencing business expansion. In Wukari LGA, SMEs contribute significantly to the local economy but often face challenges such as high tax burdens and inadequate tax incentives.
A well-designed tax system can foster SME growth by providing financial relief, infrastructure development, and capacity-building programs. Conversely, excessive taxation can stifle growth and innovation. This study explores the role of taxation in promoting or hindering SME growth in Wukari LGA.
Statement of the Problem
Despite their importance, SMEs in Wukari LGA struggle with taxation challenges that hinder their growth potential. The lack of supportive tax policies exacerbates their financial constraints, limiting their ability to expand and compete effectively.
Aim and Objectives of the Study
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To examine the role of taxation in SME growth in Wukari LGA.
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To identify taxation-related barriers to SME growth.
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To propose policy recommendations for enhancing SME growth through taxation.
Research Questions
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How does taxation influence SME growth in Wukari LGA?
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What taxation-related barriers hinder SME growth in Wukari LGA?
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What policies can promote SME growth through taxation?
Research Hypotheses
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Taxation does not significantly influence SME growth in Wukari LGA.
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Taxation-related barriers do not significantly hinder SME growth.
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Proposed policies do not significantly promote SME growth through taxation.
Significance of the Study
This study provides insights into the relationship between taxation and SME growth in Wukari LGA, offering valuable recommendations for policymakers to create supportive tax environments.
Scope and Limitation of the Study
The study focuses on SMEs in Wukari LGA, analyzing how taxation influences their growth. Limitations include the variability of SME growth metrics and limited access to financial records.
Definition of Terms
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Taxation: Government-imposed charges on business income or assets.
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SME Growth: The expansion and development of Small and Medium Enterprises.
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Barriers: Challenges hindering SME development in Wukari LGA.
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