The Dynamics of Communication Networking on Small and Medium Enterprises Growth in Entrepreneurial Economies: (Evidence from Nigeria)
- July 20, 2019
- Posted by: RSIS
- Category: Business Administration
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue VII, July 2019 | ISSN 2454–6186
John Joseph Etim, Ushie Michael Adadu, Otiala Boniface Paul
Department of Business Administration, Cross River University of Technology, Calabar– Nigeria
Abstract: – This study is designed to investigate the survival strategies for small and medium enterprises in Africa with particular reference to Nigeria. A total of 90 SME’s were randomly selected from business industrial cluster in Lagos (South West) Nigeria and used for the study. Secondary data were used for data collection. Analysis was conducted via descriptive statistics; frequency tables were used for summarizing the data. The Statistical Package for Social Sciences (SPSS) version 2.0 was used, being relatively recent and advance version of SPSS, a multivariate regression model was used to measure the variables of communication networking models on SME’s growth. The result reveals that the variables of communication networking models (knowledge spillover, technological innovation, and interactions within clusters) have significant positive influence on SME’s growth. Both regression and correlation results indicated communication network model variables had positive influence on SME’s growth. Knowledge spillover was the most significant with correlation relationship of 43.3% combined strategies to influence the profitability and growth of SME’s. The study recommended that SME’s owners should explore the dynamic changes occasioned by communication networking models in other to improve on information linkages behaviour, and networking characterization that can improve SME’s existence in the business ecosystem.
Keywords: Communication, Networking, SME’s growth, Entrepreneurial, Economies
I. INTRODUCTION
Background of the Study
The future of Small and Medium enterprises (SME’s) growth in Nigeria business ecosysytemlies to a large extent in the hands of the owners/ promoters of indigenous small and medium enterprises (SME’s). Globally, Small and Medium Enterprises (SME’s) create most of the private sector jobs and act as an agent for empowering the citizens through employment generation that a rapidly growing labour force is craving, income distribution and rapid economic transformation and growth (Damirch & Rahimi, 2011).
