Fiscal and Monetary Policies on Small-Scale Construction Enterprises (SSCE) in Imo state Nigeria: The Pecuniary Glitch

Along with the COVID-19 pandemic saga, business operations in the Nigerian state have severely deteriorated in the past two years. The country's economy has benefited from the small-scale industry, with the construction industry playing a significant role. However, a significant hindrance that is clearly assessed in this study is the availability of fast and enough money to support the operations of the stakeholders in this industry. Using a well-structured questionnaire and a systematic sampling strategy, data were gathered from small-sized construction businesses in the Imo state. Utilizing frequencies, percentages, and mean analysis, the data was examined. It was revealed that commercial and microfinance banks are among the top financiers of the identified small-scale construction enterprises. However, the level of financial aid accessible to them is quite low with (18.75%) of the small contractors been limited to 500,000-1m; (31.25%) have access to 1.5m-2m and 2.5m-3m respectively, (12.5%) are limited to 3.5m-4m and 6.25% are limited to 5m and above which establishes the fact that the lower the range of financial aid requested the higher the rate of access given. Interest rates, with a mean value of 4.43 and government policies with a mean value of 4.41 are two elements that have an enormous influence on the availability of these financial help. Government regulation of fiscal and monetary policies, as well as encouragement of the minimization of interest on loans available to these firms, are all recommended in order to improve service delivery in small-scale construction enterprises in Nigeria