Assessment of Exchange Rate Instability and Tax Rates on the Entrepreneurial Orientations of Small and Medium Timber Businesses in Nigeria

Abstract

This abstract center on the evaluation of exchange rate volatility and tax rates and their influence on the entrepreneurial orientations of small and medium-sized timber enterprises in Nigeria. Exchange rate volatility and tax policies have a substantial impact on the business climate and entrepreneurial decision-making within the timber sector. The primary objective of this study is to investigate the correlation between exchange rate volatility, tax rates, and entrepreneurial orientations within the context of small and medium-sized timber enterprises in Nigeria. By employing a mixed-methods approach, this study integrates quantitative data analysis of information obtained from the National Bureau of Statistics (NBS), the Central Bank of Nigeria (CBN), and the Federal Ministry of Agriculture and Rural Development (FMANR) records. The collected data was subjected to analysis using linear regression. The results indicate that a statistical analysis was conducted to examine the relationship between exchange rate instability, tax rates, and the entrepreneurial orientations of small and medium timber businesses in Nigeria. The study's findings suggest that policy reforms should be implemented to enhance stability in exchange rates, streamline tax structures, and offer incentives to foster entrepreneurship within the timber industry. In addition, it is recommended that capacity-building initiatives, such as training programs and mentorship opportunities, be implemented in order to provide entrepreneurs with the essential skills and knowledge required to effectively manage exchange rate fluctuations and tax complexities.