ENHANCING MARKET PERFORMANCE FOR SMALL AND MEDIUM ENTERPRISES (SMEs) IN NIGERIA THROUGH DIGITAL TRANSFORMATION
Published 2024-01-10
Keywords
- Marketing Assistance,
- SMEs,
- SMEDAN,
- Performance
Copyright (c) 2024 African Journal of Business and Economic Development
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Abstract
Market assistance plays a vital role in the success of small and medium enterprises (SMEs) as they often lack the resources to manage extensive marketing activities that larger enterprises can afford. SMEs require institutional support to address this marketing resource gap. This study investigates the influence of market support programs on SME performance across three Nigerian states, utilizing a mixed-method approach involving surveys and semi-structured interviews. Out of 400 questionnaires distributed to SME operators, 360 were deemed suitable for analysis. Additionally, 20 interviews were conducted with SME operators. Multiple regression was employed to analyze survey responses, while thematic analysis was used to evaluate qualitative interview data. The results underscore the substantial impact of marketing support on SME performance. Nevertheless, the qualitative analysis uncovered critical insights. Consequently, it is recommended that marketing assistance programs prioritize the establishment of a robust digital presence to further enhance SME performance.