The role of local government policies in promoting small and medium enterprises: A study of SMEs in Ikot Ekpene Local Government Area, Akwa Ibom State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style:
- Recommended for :
- NGN 5000
Background of the study
Small and medium enterprises (SMEs) are widely recognized as engines of economic growth, innovation, and job creation. In Ikot Ekpene, local government policies play a crucial role in shaping the operating environment for SMEs. Government initiatives that provide financial support, infrastructural development, and regulatory reforms can significantly influence the success and sustainability of SMEs (Udo, 2023). However, there are challenges related to policy implementation, bureaucratic delays, and inconsistent support, which often hinder the optimal growth of these enterprises (Etim, 2024). The effectiveness of local government policies is critical in providing an enabling environment that fosters entrepreneurship and reduces operational challenges. This study examines how current policies affect SME performance and identifies gaps between policy design and practical implementation. It considers both the potential benefits and limitations of these policies in addressing the unique challenges faced by SMEs in Ikot Ekpene. The research is informed by recent literature on economic development and entrepreneurial ecosystems, and it aims to contribute insights that can guide future policy improvements (Inyang, 2025).
Statement of the problem
SMEs in Ikot Ekpene face numerous challenges despite supportive local government policies. Inconsistent implementation, bureaucratic inefficiencies, and limited access to essential resources hinder business growth and sustainability. These shortcomings have prevented SMEs from fully contributing to local economic development and job creation. The study seeks to investigate the effectiveness of current policies, identify the specific challenges in policy execution, and propose measures to enhance the operational environment for SMEs. Understanding these issues is vital to ensuring that local government initiatives yield tangible benefits for small and medium enterprises (Abasi, 2024).
Objectives of the study:
- To assess the impact of local government policies on SME growth.
- To identify challenges in the implementation of supportive policies.
- To propose recommendations for improving policy effectiveness for SMEs.
Research questions:
- What are the key policies impacting SME growth in Ikot Ekpene?
- How do implementation challenges affect SME performance?
- What policy improvements can better support SME development?
Research Hypotheses:
- Effective local policies positively impact SME growth.
- Implementation challenges significantly limit policy benefits.
- Policy reforms will enhance the operating environment for SMEs.
Significance of the study
This study is significant as it examines the role of local government policies in fostering SME development. Its findings will guide policymakers in refining support mechanisms that promote entrepreneurial growth and economic diversification. The insights will also benefit SME owners by highlighting areas for advocacy and reform, thereby contributing to sustainable economic progress in Ikot Ekpene (Okon, 2023).
Scope and limitations of the study:
Limited to the topic only.
Definitions of terms:
- Small and medium enterprises (SMEs): Businesses with limited scale operations.
- Local government policies: Regulations and initiatives implemented at the municipal level.
- Entrepreneurial ecosystem: The network of institutions supporting business creation and growth.
Related Project Materials
HUMAN RESOURCE PLANNING AND ITS IMPACT ON ORGANIZATIONAL PERFORMANCE (CASE STUDY OF NNPC NIGERIA PLC)
BACKGROUND OF THE STUDY
The history of planning is old as man himself planning had started from the ancient era during t...
An evaluation of informal education in promoting financial literacy among secondary school students in Azare Local Government Area, Bauchi State
Background of the Study
Financial literacy is an essential life skill that empowers individuals to make informed decisions...
THE INFLUENCE OF TECHNOLOGICAL ADVANCEMENTS ON EMPLOYEE MOTIVATION
Abstract: THE INFLUENCE OF TECHNOLOGICAL ADVANCEMENTS ON EMPLOYEE MOTIVATION
Objective...
EFFECT OF MARKET SEGMENTATION ON SALES PERFORMANCE OF BEVERAGE INDUSTRIES
Abstract
This research project was carried out on the effect of market segmentation on sales performance of beverage ind...
The Impact of Bank Service Innovation on Customer Satisfaction: A Study of First Bank, Abuja
Background of the Study
Service innovation is a key determinant of competitive advantage in retail banking, influencing cus...
An evaluation of constitutional law in protecting indigenous languages: A study of Jos South Local Government Area, Plateau State
Background of the Study
Indigenous languages are central to the cultural identity and heritage of communities, and their preservation is cru...
SAFETY MANAGEMENT IN BUILDING CONSTRUCTION SITE
Background of the study
The construction industry in Nigeria has since being on a steady rise in r...
COMPARATIVE ANALYSIS OF COAL AND COCONUT ACTIVATED CARBON
ABSTRCT
The experiment was carried out to analyze comparatively coal and coconut activated carbon. &nbs...
COMPUTATIONAL APPROACHES TO CONSTRUCT AND ASSESS KNOWLEDGE MAPS FOR STUDENT LEARNING
ABSTRACT
Knowledge maps have been widely used in knowledge elicitation and representation to evaluate and guide students’ lea...
The Relationship Between Work-Life Balance and Entrepreneurial Productivity: A Case Study of Female Entrepreneurs in Kano State
Background of the Study
Work-life balance (WLB) has emerged as a critical determinant of productivity, particularly for ent...
