Impact of government policy on entrepreneurship growth and development of small-scale business

Abstract

The study examined the Impact of Government Policy on Entrepreneurship Growth and Development of Small-Scale Businesses. The study is also limited to the staff of the small-scale business, in Asaba, Delta State, Nigeria. The independent variable in this study is government policy measured by entrepreneurship policy interventions and monetary policy while the dependent variable is entrepreneurship growth and development. The primary data methodology was adopted through the aid of a well-structured questionnaire. Meanwhile, Pearson’s product-moment correlation coefficient was used to analyze the sourced data from the field. Although 291 questionnaires were shared with the core medical personnel, health workers, and others, only 272 questionnaires were returned and used to run the analysis. The study revealed that entrepreneurship policy intervention and monetary policy are positively related to entrepreneurship growth and development. and that such a relationship is strong and statistically significant. Hence, the study concludes that Entrepreneurship is an important driving force of business growth. Therefore, government policy forms an institutional environment in which entrepreneurial decision-making takes place. Therefore, government policy can be said to be important for entrepreneurship. For this reason, various researchers studied the relationship between government policy and entrepreneurship. Therefore, policymakers have responded to the growing importance of entrepreneurship. Encouraging new firm formation via grants and subsidies, loans, tax breaks or relief, and regulatory benefits.

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