Government Intervention and Support on Smes Firm Performance

Olufemi Olabode Olayemi (Department of Business Administration Faculty of Management Science University of Lagos, Akoka-Yaba, Lagos State)
Patrick Sunday Okonji (Department of Business Administration Faculty of Management Sciences University of Lagos, Akoka-Yaba, Lagos State)
Elohor Katherine Idolor (Department of Business Administration, Faculty of Management Science Michael and Cecilia Ibru University, Ughelli North, Delta State, Nigeria)
Frank Alaba Ogedengbe (Department of Business Administration & Management School of Business Studies Auchi Polytechnic, Edo State, Nigeria)

Article ID: 4276

DOI: https://doi.org/10.30564/jesr.v5i2.4276

Abstract


The small and medium enterprise firms are renowned for improving the nation’s economy through the provision of job opportunities for its populace, improving the financial and investment status of the countries and provision of innovative products that meets the need of the people. SMEs are key players in the economy, through sustainable development goals (SDGs) enabling them to thrive in the open business environment and actively applying the digital transformation, promoting inclusive and sustainable industrialization should be the core of any country government. This research is designed to explore the influence of government intervention and support on enterprise performance and growth in five business sectors- Hospitality, Education, Health care, Bottled Water Production and Transport and Logistics organizations. The research paper had a descriptive research design with a randomly selected sample size of one hundred and ninety- seven respondents.The research hypotheses were tested using (Factor Analysis and Ordinal Logistic Regression Analysis) with Statistical Packages for Social Science (SPSS) version 25. The results of the study reveal that government intervention policies and intervention programmes when instituted will promote the growth of business firms in Nigeria. Also identified are relevant recommendations that serve as motivation for policy administrators, entrepreneurs, and business managers to ensure that relevant intervention programme is adopted to boost performance and growth of the SME sector in Nigeria.


Keywords


Financial and resource allocation; Managerial competence; Government intervention and support; Small and medium enterprise firm performance and growth

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