Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria

Aliu Arinola Kafayat; Siyanbola Trimisiu Tunji; Okunade Richard Adeleye; Okedina Olusola Olakunle

doi:doi:10.11648/j.ijafrm.20220702.15

| Peer-Reviewed

Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria

Aliu Arinola Kafayat, Siyanbola Trimisiu Tunji, Okunade Richard Adeleye, Okedina Olusola Olakunle

Published in International Journal of Accounting, Finance and Risk Management (Volume 7, Issue 2)

Received: 25 May 2022 Accepted: 13 June 2022 Published: 27 June 2022

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.

Published in	International Journal of Accounting, Finance and Risk Management (Volume 7, Issue 2)
DOI	10.11648/j.ijafrm.20220702.15
Page(s)	63-70
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Economy, Employee Performance, Government Grants, Performance, Small Scale Businesses

References

[1]	Aanstoos, C. M. (2016). “Maslow's hierarchy of needs”. Salem Press Encyclopedia of Health. Retrieved from http://eds.a.ebscohost.com/eds/detail/detail?vid=0&sid=c8e1eeca-0bf9-4f34ba41f49185833867%40sessionmgr4010&bdata=JnNpdGU9ZWRzLWxpdmUmc2N vcGU9c2l0ZQ%3d%3d#AN=93872091&db=ers
[2]	Adeyemo, S. A. (2021). Impact of Strategy Implementation Drivers on the Performance of Small and Medium Enterprises in South-West, Nigeria. ProQuest Dissertations 28318656.
[3]	Aladejebi, O. A. (2018). Predictors of firm performance among selected SMEs in Lagos, Nigeria. IJAR, 4 (6), 08-17.
[4]	Ali, I. F., Awad, S. H., & Abdulsalam, D. (2020). Factors affecting the performance of small scale construction firms in Nigeria. Nigerian Journal of Technology (NIJOTECH) Vol. 39, No. 4, 981-991.
[5]	Alkahtani, A., Nordin, N. & Khan, R. U. (2020). Does government support enhance the relation between networking structure and sustainable competitive performance among SMEs? Journal of Innovation and Entrepreneurship. Vol 9 (14). https://doi.org/10.1186/s13731-020-00127-3
[6]	Arafah, W., Batara, R. R., & Hady, H. (2018). Antecedents and Consequence of Entrepreneurial strategic orientation in Micro Business Unit in Jakarta. International Journal of Entrepreneurship.
[7]	Bamfo, B. A., & Kraa, J. J. (2019). Market orientation and performance of small and medium enterprises in Ghana: The mediating role of innovation. Cogent Business & Management, 6 (1), 1605703.
[8]	Bature, S. W., Sallehuddin, R. M., Rosli, N. A., & Saad, S. (2018). Proactiveness, Innovativeness and Firm Performance: The Mediating Role of Organizational Capability. Academy of Strategic Management Journal.
[9]	Boreum, J., & Jessica, L., (2019). Exploring the impact of training, job tenure, and education-job and skills-job matches on employee turnover intention. European Journal of Training and Development.
[10]	Damoah, O. B. O., & Peprah, A. A. (2021). Synthesis of small and medium enterprise research in Ghana. Journal of Global Entrepreneurship Research. https://doi.org/10.1007/s40497-021-00286-x
[11]	Darma, M., & Martin, K. (2019). Influence of government regulations and institutions on entrepreneurial performance in cameroon. Journal of Developmental Entrepreneurship. Vol. 24 (4). https://doi.org/10.1142/S1084946719500274
[12]	Duru, I. U., Ehidiamhen, P. O., & Chijioke, A. N. (2018). Role of entrepreneurial orientation in the performance of small and medium enterprises: Evidence from Federal Capital Territory, Abuja, Nigeria. Asian Journal of Economics, Business and Accounting, 1-21.
[13]	Fred, O. P., Omotayo A., Maxwell, A. O., Adeshola, O. P., Augusta, B. A., & Stephen A. I. (2018). Government financial support and financial performance of SMES. Academy of Strategic Management Journal, 17 (3).
[14]	Gupta, V. K., & Wales, W. J. (2017). Assessing organisational performance within entrepreneurial orientation research: Where have we been and where can we go from here? Journal of Entrepreneurship, 26, 51–76.
[15]	Hayat, A., Latif, A., Humayon, A. A., Ahmed, M., & Azeem, M. (2019). The Mediating Role of Entrepreneurial Leadership in the Relationship between Entrepreneurial Orientation and Firm Performance of ICTs SMEs. Journal of Multidisciplinary Approaches in Science, 5 (1), 16-23.
[16]	Hongyun, T., Kankam, W. A., Appiah-Twum, F., & Akolgo, I. G. (2019). Effect of Social Capital on Firm Performance: The Role of Entrepreneurial Orientation and Dynamic Capability. International Review of Management and Marketing, 9 (4), 63.
[17]	Hoque, A. S. M. M., Siddiqui, B. A., Awang, Z. B., & Baharu, S. M. A. T. (2018). Exploratory factor analysis of entrepreneurial orientation in the context of bangladeshi small and medium enterprises (SMES). European Journal of Management and Marketing Studies.
[18]	Ibrahim, I. M., & Mustapha, B. (2019). Determinants of Small and Medium Enterprises Performance in Nigeria: The Role of Government Support Policy, International Journal of Business and Economics Research. Volume 8 (2) pp. 41-49. doi: 10.11648/j.ijber.20190802.11.
[19]	Kehinde, A. O., Abiodun, A. J. & Adegbuyi, O. A. (2016). Small and medium scale enterprises: Pivotal to sustainable economic development-The Nigeria experience. International Journal of Current Research, 8 (1), 1-10.
[20]	Maria, S., & Allam, H., (2018) "The moderating role of governmental support in the relationship between entrepreneurship and economic growth: A study on the GCC countries", Journal of Entrepreneurship in Emerging Economies, https://doi.org/10.1108/JEEE-10-2017-0072 Permanent link to this document: https://doi.org/10.1108/JEEE-10-2017-0072.
[21]	Maslow, A. H. (1943). A Theory of Human Motivation. Psychological Review, 50 (4), 370- 96.
[22]	Mayuran, L. (2016). Impact of entrepreneurship training on performance of small enterprises in Jaffna district. Global Journal of Commerce and Management Perspective, 5 (2), 1-6.
[23]	McLeod, S. (2013). “Maslow’s Hierarchy of Needs”. Highgate Counselling Centre. Retrieved from http://highgatecounselling.org.uk/members/certificate/CT2%20Paper%201.pdf.
[24]	McLeod, S. (2017). “Maslow’s Hierarchy of Needs”. Simply Psychology.org. Retrieved from https://simplypsychology.org/maslow.html.
[25]	Nguyen, H. T. T., Van, H. V., Bartolacci, F., and Tran, T. Q. (2018). The impact of government support on firm performance in Vietnam: New evidence from a dynamic approach. Asian Academy of Management Journal, 23 (2), 101–123. https://doi.org/10.21315/aamj2018.23.2.5
[26]	Ntiamoah, E. B., Li, D. M. & Kwamega, M. (2016). Impact of government and other institutions’ support on performance of small and medium enterprises in the agribusiness sector in Ghana. AmericanJournal of Industrial and Business Management, 6 (5), 558-567.
[27]	Okonkwo, N. O. & Obidike, C. P. (2016). Medium scale enterprises financing in Nigeria: Problems and prospects. International Journal of Innovative Social Sciences & Humanities Research, 4 (1), 77-86.
[28]	Rankhumise, E. M., & Masilo, K. H. (2017). The effect of government support on the success of small and medium enterprises: A comparative study between south Africa and china. Journal of Economics and behavioral studies. Vol. 9 (6), pp. 166-173.
[29]	Rua, O., França, A., & Ortiz, R. F. (2018). Key drivers of SMEs export performance: the mediating effect of competitive advantage. Journal of Knowledge Management.
[30]	Rezaei, J., & Ortt, R. (2018). Entrepreneurial orientation and firm performance: the mediating role of functional performances. Management Research Review.
[31]	Shu, C., De Clercq, D., Zhou, Y., & Liu, C. (2019). Government institutional support, entrepreneurial orientation, strategic renewal, and firm performance in transitional China. International Journal of Entrepreneurial Behavior & Research.
[32]	Sok, P., Snell, L., Lee, W. J., Sok, K. M. (2017). Linking entrepreneurial orientation and small service firm performance through marketing resources and marketing capability. Journal of Service Theory and Practice, 27 (1), 231–249. https://doi.org/10.1108/JSTP-01-2016-0001.
[33]	Solomon, G. Z., Mohammad, I., Sathiswaran, U., & Wilberforce, O., (2020). The impact of entrepreneurial orientation on smes performance in ghana: the role of social capital and government support policies. Journal of management and Entrepreneurship, Vol. 22 (2).
[34]	Steve, M. (2019). Role of government in promoting small business.
[35]	Taiwo, J. N., Falohun, T. O. & Agwu, M. E. (2016). SMEs financing and its effects on Nigerian economic growth. European Journal of Business, Economics and Accountancy, 4 (4), 37-50.
[36]	Túlio A. C., & Caio, P. (2016). The Impact of Business Support Services for Small and Medium Enterprises on Firm Performance in Low- and Middle-Income Countries: A Meta-Analysis. IDB WORKING PAPER SERIES Nº IDB-WP-709 Labor Markets and Social Security Division.
[37]	Xiang, D. & Worthington, A. C. (2017). The impact of government financial assistance on the performance and financing of Australian SMEs. Accounting Research Journal. DOI https://doi.org/10.1108/ARJ-04-2014-0034.
[38]	Zulu-Chisanga, S., Chabala, M., & Mandawa-Bray, B. (2021), "The differential effects of government support, inter-firm collaboration and firm resources on SME performance in a developing economy", Journal of Entrepreneurship in Emerging Economics, Vol. 13 No. 2, pp. 175-195. https://doi.org/10.1108/JEEE-07-2019-0105.

Cite This Article

Plain Text BibTeX RIS

APA Style

Aliu Arinola Kafayat, Siyanbola Trimisiu Tunji, Okunade Richard Adeleye, Okedina Olusola Olakunle. (2022). Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. International Journal of Accounting, Finance and Risk Management, 7(2), 63-70. https://doi.org/10.11648/j.ijafrm.20220702.15

Copy | Download

ACS Style

Aliu Arinola Kafayat; Siyanbola Trimisiu Tunji; Okunade Richard Adeleye; Okedina Olusola Olakunle. Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. Int. J. Account. Finance Risk Manag. 2022, 7(2), 63-70. doi: 10.11648/j.ijafrm.20220702.15

Copy | Download

AMA Style

Aliu Arinola Kafayat, Siyanbola Trimisiu Tunji, Okunade Richard Adeleye, Okedina Olusola Olakunle. Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. Int J Account Finance Risk Manag. 2022;7(2):63-70. doi: 10.11648/j.ijafrm.20220702.15

Copy | Download

@article{10.11648/j.ijafrm.20220702.15,
  author = {Aliu Arinola Kafayat and Siyanbola Trimisiu Tunji and Okunade Richard Adeleye and Okedina Olusola Olakunle},
  title = {Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {7},
  number = {2},
  pages = {63-70},
  doi = {10.11648/j.ijafrm.20220702.15},
  url = {https://doi.org/10.11648/j.ijafrm.20220702.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20220702.15},
  abstract = {The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria
AU  - Aliu Arinola Kafayat
AU  - Siyanbola Trimisiu Tunji
AU  - Okunade Richard Adeleye
AU  - Okedina Olusola Olakunle
Y1  - 2022/06/27
PY  - 2022
N1  - https://doi.org/10.11648/j.ijafrm.20220702.15
DO  - 10.11648/j.ijafrm.20220702.15
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 63
EP  - 70
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20220702.15
AB  - The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.
VL  - 7
IS  - 2
ER  -

Copy | Download

Author Information

Aliu Arinola Kafayat

Department of Accounting, Babcock University, Ilisan-Remo, Nigeria
Siyanbola Trimisiu Tunji

Department of Accounting, Babcock University, Ilisan-Remo, Nigeria
Okunade Richard Adeleye

Department of Accounting, Babcock University, Ilisan-Remo, Nigeria
Okedina Olusola Olakunle

Department of Accounting, Babcock University, Ilisan-Remo, Nigeria

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Aliu Arinola Kafayat, Siyanbola Trimisiu Tunji, Okunade Richard Adeleye, Okedina Olusola Olakunle. (2022). Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. International Journal of Accounting, Finance and Risk Management, 7(2), 63-70. https://doi.org/10.11648/j.ijafrm.20220702.15

Copy | Download

ACS Style

Aliu Arinola Kafayat; Siyanbola Trimisiu Tunji; Okunade Richard Adeleye; Okedina Olusola Olakunle. Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. Int. J. Account. Finance Risk Manag. 2022, 7(2), 63-70. doi: 10.11648/j.ijafrm.20220702.15

Copy | Download

AMA Style

Aliu Arinola Kafayat, Siyanbola Trimisiu Tunji, Okunade Richard Adeleye, Okedina Olusola Olakunle. Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria. Int J Account Finance Risk Manag. 2022;7(2):63-70. doi: 10.11648/j.ijafrm.20220702.15

Copy | Download

@article{10.11648/j.ijafrm.20220702.15,
  author = {Aliu Arinola Kafayat and Siyanbola Trimisiu Tunji and Okunade Richard Adeleye and Okedina Olusola Olakunle},
  title = {Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria},
  journal = {International Journal of Accounting, Finance and Risk Management},
  volume = {7},
  number = {2},
  pages = {63-70},
  doi = {10.11648/j.ijafrm.20220702.15},
  url = {https://doi.org/10.11648/j.ijafrm.20220702.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijafrm.20220702.15},
  abstract = {The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria
AU  - Aliu Arinola Kafayat
AU  - Siyanbola Trimisiu Tunji
AU  - Okunade Richard Adeleye
AU  - Okedina Olusola Olakunle
Y1  - 2022/06/27
PY  - 2022
N1  - https://doi.org/10.11648/j.ijafrm.20220702.15
DO  - 10.11648/j.ijafrm.20220702.15
T2  - International Journal of Accounting, Finance and Risk Management
JF  - International Journal of Accounting, Finance and Risk Management
JO  - International Journal of Accounting, Finance and Risk Management
SP  - 63
EP  - 70
PB  - Science Publishing Group
SN  - 2578-9376
UR  - https://doi.org/10.11648/j.ijafrm.20220702.15
AB  - The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.
VL  - 7
IS  - 2
ER  -

Copy | Download