GOVERNMENT POLICIES AND THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES)

ABSTRACT

Small and Medium Scale Enterprises (SMEs) are pivotal drivers of economic growth, job creation, and innovation in developing countries like Nigeria. Despite their importance, SMEs in Nigeria have faced challenges that impede their performance and growth. This study investigates the impact of government policies on SMEs in Benin City, Edo State, Nigeria. The research aims to assess existing government policies, evaluate their impact on SME performance, examine their alignment with SME needs and challenges, and identify opportunities for policy improvement. The study employed a questionnaire-based survey to collect data from SMEs in Benin City. The findings revealed that government policies in areas such as finance, infrastructure, regulations, and human resources have a significant impact on SME performance and growth. These policies have positively influenced SME innovation, productivity, and competitiveness.