An Appraisal of the Effects of Economic Policies on SME Survival: A Case Study of Agropreneurs in Bauchi State
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Background of the Study
Small and medium-sized enterprises (SMEs) play a critical role in the Nigerian economy, particularly in the agricultural sector. Agropreneurs, or agricultural entrepreneurs, contribute to food security, rural development, and job creation in Nigeria. However, economic policies such as taxation, trade tariffs, and monetary regulations can either support or hinder the growth of these businesses (Akinboade, 2023). In Bauchi State, agropreneurs face challenges such as fluctuating input costs, limited access to capital, and the impact of government policies on their business operations.
Economic policies can have significant effects on SME survival by influencing factors like cost of production, access to markets, and overall business profitability. This study seeks to examine the relationship between economic policies and the survival of agropreneurs in Bauchi State, with a focus on the challenges and opportunities presented by these policies.
Statement of the Problem
Although the Nigerian government has introduced several policies to support the growth of SMEs, particularly in agriculture, there is a lack of clear understanding about the direct effects of these policies on agropreneurs in Bauchi State. The effects of economic policies on agropreneurs are often mixed, with some policies creating opportunities while others pose challenges to the sustainability and profitability of small agricultural businesses. This study will explore how different economic policies affect the survival and growth of agropreneurs in Bauchi State.
Objectives of the Study
- To evaluate the effects of economic policies on the survival of agropreneurs in Bauchi State.
- To assess the challenges agropreneurs face in relation to economic policies in Bauchi State.
- To provide recommendations for improving economic policies to support the survival and growth of agropreneurs.
Research Questions
- What are the effects of economic policies on the survival of agropreneurs in Bauchi State?
- What challenges do agropreneurs in Bauchi State face due to current economic policies?
- How can economic policies be improved to better support agropreneurs in Bauchi State?
Research Hypotheses
- H0: Economic policies do not significantly affect the survival of agropreneurs in Bauchi State.
- H0: The fluctuation in agricultural input costs due to economic policies does not significantly impact the survival of agropreneurs in Bauchi State.
- H0: The level of government support provided through economic policies does not significantly enhance the growth of agropreneurs in Bauchi State.
Scope and Limitations of the Study
The study will focus on agropreneurs in Bauchi State and assess the effects of national and local economic policies on their survival. Limitations may include difficulties in obtaining accurate data from agropreneurs and the potential subjectivity of responses regarding government policies.
Definitions of Terms
- Agropreneurs: Entrepreneurs involved in agricultural production, processing, and related activities.
- Economic Policies: Government decisions that influence national economic activities, such as fiscal policy, taxation, and trade regulations.
- SME Survival: The ability of small and medium-sized enterprises to remain operational and profitable over time.
