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
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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.
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