Downloads: 165 | Views: 296
Research Paper | Business Management | Nigeria | Volume 8 Issue 10, October 2019 | Popularity: 7.1 / 10
Analysis of Innovation in Nigeria Small and Medium Enterprises: Implication for Economic Growth
Nwatu Emmanuel Chukwuemeka, Makama Lawrence Linus
Abstract: The emergence of innovation in small and medium scale enterprises (SMEs) is vital to achieve economic growth. Hence, product and technological innovations in attaining competitive advantage to achieve desired level of economic growth in Nigeria has recently emerged as one of the most significant subjects in the context of the common marketplace. This made it imperative for the study to conduct an Analysis of Innovation in Nigeria Small and Medium Enterprises: Implication for Economic Growth. The study utilized two objectives, research questions and hypotheses. Secondary data sourced from World Bank Development Database and SMEDAN (2018) on Gross Domestic Product (GDP) is used as proxy/measure of Economic Growth while SMEs Product Innovation Index (SPII) and SMEs Technological Innovation Index (STII) were used as proxy/measure of innovation in Nigeria SMEs being the independent variables. The study used the technique of regression analysis to determine the relationship between innovation in Nigeria SMEs and economic growth in Nigeria while probability statistic test was used to test the hypotheses. The study based on the results revealed that product innovation and technological innovation were positively related to economic growth in Nigeria within the study period. Hence, increased in product innovation and technological innovation had positive implication on economic growth in Nigeria. The study concluded that innovations in SMEs are catalysts for product and technological development towards achieving desired level of economic growth in Nigeria. The study therefore recommended that SMEs should ensure that product innovation is enhanced towards achieving the desired level of economic growth in Nigeria. Finally, SMEs should also make provision to improve technological innovation in order to boost economic growth in Nigeria.
Keywords: Innovation, small and medium enterprises, regression analysis and economic growth
Edition: Volume 8 Issue 10, October 2019
Pages: 329 - 334
Make Sure to Disable the Pop-Up Blocker of Web Browser
Similar Articles
Downloads: 0
Research Paper, Business Management, Indonesia, Volume 10 Issue 6, June 2021
Pages: 260 - 263Designing Business Model by using 4I-Framework for the Community of Persons with Disabilities in Bandung
Nur Muthrofin To'a, Bagus Wahyu Utomo, Fajar Sidiq Adi Prabowo, Dini Turipanam Alamanda
Downloads: 0
Analysis Study Research Paper, Business Management, India, Volume 11 Issue 5, May 2022
Pages: 618 - 626Trust & Access - The Mantra of Future Digital Health Care
S Keerthi, Dr. John E P
Downloads: 0
Research Paper, Business Management, Zambia, Volume 11 Issue 6, June 2022
Pages: 562 - 570Are SME's Resilient Against COVID-19?: Evidence in Zambia
Chinyama Kapwacha, Ben Kasesela, Maboipuso Mathabiso Letooane, Mulemwa Muwanei
Downloads: 3 | Weekly Hits: ⮙1 | Monthly Hits: ⮙3
Review Papers, Business Management, India, Volume 12 Issue 10, October 2023
Pages: 1570 - 1578Past, Present, and Future Barriers to Digital Transformation in Small Business Enterprises in Manufacturing Sector: A State - of - Art Review
Ajay Sisarwal
Downloads: 3 | Weekly Hits: ⮙3 | Monthly Hits: ⮙3
Review Papers, Business Management, United States of America, Volume 13 Issue 10, October 2024
Pages: 1278 - 1281Strategic Expansion into Emerging Markets: Risk Management and Market Entry Strategies for US Food and Beverage Companies
Mohan Valluri