EFFECT OF GOVERNMENT POLICY ON THE DEVELOPMENT OF SMALL-SCALE BUSINESS IN OGBOMOSHO, OYOSTATE, NIGERIA

General objective of this study was to examine the effect of government policy on the development of small scale businesses in Ogbomoso, Oyo state. Nigeria. Specifically, the study assessed the extent to which small scale businesses in Ogbomoso are aware of government policies on financing of small businesses, evaluated the extent to which small scale businesses in Ogbomoso have been able to access finances from government agencies, examined the effect of government policies on finance on the development of small scale businesses in Ogbomoso and identified the challenges limiting the ability of small scale businesses in Ogbomoso to access government policies on financing. Survey research design was used for the study; convenience sampling technique was used to select the respondents from the study area. The respondents were the management staff of Hekky Water factory, a prominent water production facility in Ogbomoso, Oyo state. Data was collected with the aid of structured questionnaire. The data was analysed using inferential statistical techniques, including regression and correlation analysis to identify significant relationships and trends. The findings showed that the extent of awareness of government policies in small scale businesses in Ogbomoso is very little. Also small scale businesses in Ogbomoso had difficulties in accessing finances from government agencies. Furthermore, findings showed that government financial policies have not had significant impact on the development of small scale businesses in ogbomoso, while the major challenges faced by small scale businesses in Ogbomoso in accessing government financing were lack of awareness and delay in receiving fund. The study concluded that government policy on finance has a significant influence on the development of small scale businesses in Ogbomosho. The study recommended that policymakers should focus on creating supportive environments that facilitate access to financial resources for small - scale businesses in Ogbomosho.