Impact of Government Sustainable Development Programs during COVID-19: A Study of SMEs in Nigeria

Abstract

This study investigates the impact of government sustainable programs on the growth of small and medium enterprises (SMEs) in Nigeria amidst the COVID-19 pandemic. It employs a survey methodology to study the developmental factors of SMEs in Nigeria. The study population consisted of 580 registered SMEs in the Wuse business district in Abuja, with a sample size of 130 respondents. Questionnaires were distributed to the above respondents, out of which 100 fully submitted their responses. To achieve the objectives of the current study, hypotheses were tested and analyzed by using a multiple linear regression model. The findings revealed that survival funds have a considerable influence on the growth and sustainability of SMEs in Nigeria. It was also discovered that free business name registration has a major influence on the growth of SMEs. Moreover, it was found that government incentives are significant to maintain the sustainability of SMEs. Furthermore, the study concluded that SMEs performed effectively well with the aid of government sustainable programs. These intervention programs take the form of an intervention strategy which is an essential part of the current study’s objectives. These include survival funds, free business registration, and government incentives. The current research provides a significant knowledge of structured progressive programs for the policymakers and aids future planning. Keywords: government sustainable programs, intervention programs, small and medium enterprises (SMEs), survival funds, sustainability