EFFECTS OF MULTIPLE TAXATION AND LEVIES ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES

ABSTRACT

This study examine the effects of multiple taxation and levies on the performance of small and medium scale enterprises, the objective are to examine the existence of multiple taxation and levies in Edo state; to assess the effect of multiple taxation on SME’s in Edo state; to investigate the effects of multiple taxation and levies on the consumer and end users in Edo state; to explore how multiple levies from unions and association affect SME’s in Edo state. This research population of study is drawn from SME’s owners in Benin city, Edo state. The sample size of 50 business owners were conveniently selected from Ekosodin, Benin City. Data was collected through questionnaire, and were analyzed using simple percentage and frequency count. It is concluded that for an entrepreneur to be successful in the expansion of his or her 11 business, he or she must be able to meet the goals and objectives that have been established, be open-minded and quick to pick up new skills, prefer to concentrate on business opportunities rather than financial rewards, be willing to take risks for the expansion of the business, and possess a high level of competency. It is recommended that There should be a working partnership, bridging the gap between the higher institutions and the industry. Lecturers should have the field experience to aid communication and teaching of the courses. Universities should work toward becoming entrepreneurial centres for students and young entrepreneurs. There should be schoolbased enterprises where students identify potential business, plan, create and operate a small business using the school as mini-incubators.