Assessing the impact of tax incentives on the growth of small and medium enterprises in Techiman municipal assembly

Abstract

The primary goal of this research was to evaluate the impact of tax incentives on the growth of SMEs in the Techiman municipality. The study was conducted using a quantitative survey approach and a descriptive survey design. A convenience sampling technique was used to select 200 employees from a population of 400 small business operators in the Techiman community. The demographics of respondents and the data from study were quantitatively analyzed using descriptive statistics such as frequency, percentage, mean, and standard deviation. The study's findings revealed SMEs received some form of corporate income tax incentives and reduced tax obligations during a specific time period. In addition, the study's findings revealed that SMEs over the years have experienced increased in sales revenue, market share, profit, operational branches, and asset growth. Finally, the study recommended that the government should formulate policies to provide more tax incentives to SMEs to aid their growth, survival and sustainability. Also, there should be capacity building and training for owners of SMEs on how to make good use of tax incentives towards the growth of their businesses.