Exploring Regulatory Constraints to the Growth of Small and Medium-Scale Enterprises in Delta State (Published)
This study investigated the intricate landscape of regulatory constraints and their impact on SME growth in Delta State. Through a comprehensive review of existing literature, empirical data analysis, and qualitative insights, this study seeks to identify, analyze, and understand the key regulatory challenges faced by SMEs operating in Delta State. The study explored a range of regulatory factors including bureaucratic procedures, taxation policies, access to finance, compliance burdens, and the interplay between formal regulations and informal practices. Furthermore, this study accessed the implications of regulatory constraints on SME performance, competitiveness, innovation, and overall economic contribution within the region. It also examined the effectiveness of existing government policies, regulatory frameworks, and institutional mechanisms in addressing these constraints and fostering an enabling environment for SME growth. The theoretical frameworks of this study hinged on the institutional theory which provides valuable insights into the regulatory dynamics shaping the SME sector in Delta State. The findings of this study show that while regulatory constraints are a key challenge, they are not lethal. Despite the divergence in ratings, SMEs face significant challenges and should be given special consideration for development through targeted interventions and constraint removal. It was therefore recommended that streamline regulatory processes for small and medium-sized enterprises (SMEs) to streamline registration, licensing, and financing. Government departments should introduce digital enablers to simplify compliance and expedite the start-up process
Keywords: Challenges, Constraints, Policy, SMEs, bureaucratic, regulatory
CONSTRAINTS TO ENTREPRENEURSHIP AND INVESTMENT DECISIONS AMONG AGRIBUSINESS INVESTORS IN SOUTHEAST, NIGERIA (Published)
Despite the role entrepreneurs play in the development of any economy, there seems to exist a dearth of empirical knowledge on what constrains entrepreneurs in taking effective entrepreneurial and investment decisions in Southeast Nigeria. A combination of purposive and multistage sampling techniques was employed in the selection of 360 agribusiness investors in the study area. Data were collected primarily using structured questionnaire and interview schedule. Data were analysed using descriptive and inferential statistics. The result of the analysis showed that lack of start-up capital, lack of market information, crime, theft and social disorder, corruption and bad legal system, poor infrastructural facilities, multiple taxation, tedious registration and licensing procedure, and poor access to formal credit facilities were the main constraints to entrepreneurship and investment decisions by agribusiness entrepreneurs in South-East, Nigeria. The result further showed that starting enterprises without proper feasibility, high taxation, inadequate supply of power, inconsistency in government policy, inability to withstand competition, management inexperience, poor knowledge in the line of business, and joint ownership of enterprises were the major causes of enterprise failure in Southeast Nigeria. However, despite the varying constraints to entrepreneurship and investment decision in the area, agribusiness ventures in the area performed at levels acceptable to the entrepreneurs. Based on these findings, formulation and implementation of policies targeted at removal of the identified constraints were recommended. Such policies should include improvement on access to credit for agribusiness entrepreneurs, even when they may not possess prime assets that are currently being accepted by financial institutions as collateral, and making agribusiness investors to always carryout a thorough market research and feasibility to ensure that there is adequate demand for the products or services being offered
Keywords: Constraints, Entrepreneurship, Investment Decision, Investors, agribusiness