The Role of Government Incentives in Promoting Sustainability Accounting Among Nigerian SMEs: A Study of Lagos State
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Background of the Study
Government incentives are crucial in encouraging businesses to adopt sustainable practices, especially for SMEs that often face resource constraints. In Lagos State, a commercial center of Nigeria, government programs that promote sustainability accounting can significantly influence the willingness of SMEs to integrate environmental and social factors into their financial reporting (Omoyemi & Afolabi, 2024).
While some incentives have been introduced by the Nigerian government to encourage environmental responsibility and sustainable practices, their effectiveness and reach among SMEs in Lagos State remain unclear. This study will explore the role of government incentives in promoting sustainability accounting practices and assess their impact on the performance of SMEs (Akanbi & Ayodele, 2025).
Statement of the Problem
Although government incentives are available to encourage sustainability practices, many SMEs in Lagos State are not fully aware of or do not take advantage of these opportunities. This results in limited adoption of sustainability accounting practices, which are critical for the long-term growth and environmental responsibility of SMEs. This study seeks to examine the role of government incentives in promoting sustainability accounting among SMEs.
Objectives of the Study
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To evaluate the role of government incentives in promoting sustainability accounting among SMEs in Lagos State.
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To identify the challenges SMEs face in accessing and utilizing government incentives for sustainability accounting.
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To propose strategies for improving government incentives to foster greater adoption of sustainability accounting among SMEs.
Research Questions
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What is the role of government incentives in promoting sustainability accounting among SMEs in Lagos State?
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What challenges do SMEs face in accessing and utilizing government incentives for sustainability accounting?
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What strategies can improve the effectiveness of government incentives in promoting sustainability accounting among SMEs in Lagos State?
Research Hypotheses
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H₀: Government incentives do not significantly promote sustainability accounting practices among SMEs in Lagos State.
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H₀: Challenges in accessing government incentives do not significantly impact the adoption of sustainability accounting practices.
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H₀: Strategies to improve government incentives do not significantly enhance the adoption of sustainability accounting practices among SMEs in Lagos State.
Scope and Limitations of the Study
This study focuses on SMEs in Lagos State and the role of government incentives in promoting sustainability accounting. It excludes SMEs outside Lagos State. Limitations include the challenge of assessing the effectiveness of incentives and the diversity of government programs targeting different sectors.
Definitions of Terms
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Government Incentives: Financial or non-financial support provided by the government to encourage businesses to adopt sustainable practices.
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Sustainability Accounting: The practice of integrating environmental and social considerations into financial accounting and reporting.
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Lagos State: The economic and commercial hub of Nigeria, known for its vibrant SME sector and regulatory frameworks aimed at promoting business growth.
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