An assessment of fiscal incentives’ impact on small business development in Nigeria: Evidence from Kano State (2000–2020).
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Background of the study:
Fiscal incentives have long been recognized as a crucial tool for stimulating small business development by reducing tax burdens and lowering entry barriers. In Kano State, these incentives have been implemented over the past two decades with the aim of empowering entrepreneurs and stimulating local economic activity. Small businesses, which form the backbone of Nigeria’s economy, benefit from reduced tax rates, subsidized loans, and grants that encourage innovation and expansion (Adeyemi, 2023). Empirical evidence suggests that such fiscal measures can lead to increased employment opportunities, improved competitiveness, and sustainable growth. However, the effectiveness of these incentives is influenced by several factors, including the regulatory environment, administrative efficiency, and the overall economic climate. While some studies have shown a positive correlation between fiscal incentives and business performance, others indicate that bureaucratic delays and inconsistent policy implementation often dilute these benefits (Bello, 2024). In Kano State, the diverse nature of small enterprises necessitates a closer look at how different sectors respond to these incentives and what modifications could enhance their impact. This study, therefore, explores the critical determinants of small business development under fiscal incentives, analyzing both successes and setbacks to provide a comprehensive understanding of the policy’s role in stimulating entrepreneurial growth.
Statement of the problem:
Despite the implementation of various fiscal incentives in Kano State, small business development remains uneven. Many entrepreneurs encounter challenges such as complex application procedures, delays in fund disbursement, and inadequate policy communication. These issues hinder the intended positive impact of fiscal measures on business growth and sustainability (Adeyemi, 2023; Bello, 2024). This study investigates the disconnect between policy intent and business outcomes, aiming to identify the underlying factors that impede effective small business development and to propose strategies to bridge these gaps.
Objectives of the study:
- To evaluate the impact of fiscal incentives on small business development in Kano State.
- To identify the challenges and bottlenecks in the implementation of these incentives.
- To recommend policy modifications to enhance the effectiveness of fiscal incentives.
Research questions:
- How have fiscal incentives affected small business growth in Kano State?
- What are the key challenges hindering the effective utilization of fiscal incentives?
- What strategies can improve the impact of these incentives on small business development?
Research Hypotheses:
- Fiscal incentives positively influence small business growth in Kano State.
- Administrative and regulatory challenges negatively impact the effectiveness of fiscal incentives.
- Streamlined fiscal policies will lead to improved business development outcomes.
Significance of the study:
This study is significant as it provides an in-depth evaluation of fiscal incentives in promoting small business development in Kano State. By identifying both strengths and limitations in current policies, the research offers actionable insights for policymakers and stakeholders. The findings will contribute to improving fiscal frameworks, thereby fostering a more dynamic and resilient small business sector essential for broader economic growth (Adeyemi, 2023).
Scope and limitations of the study:
This study is limited to the assessment of fiscal incentives and their impact on small business development in Kano State. It focuses on policy implementation, administrative challenges, and sector-specific outcomes.
Definitions of terms:
- Fiscal Incentives: Economic benefits provided by the government to encourage business activities.
- Small Business Development: The process by which small enterprises grow and become sustainable.
- Policy Implementation: The execution of governmental policies in practical settings.
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