Impact of Innovation and Technology Adoption, And Business Model on Sustainability of SMES in South-South Nigeria
Abstract
The study investigated the impact of innovation and technology adoption and business model on sustainability of SMEs In South-South Nigeria. The researcher adopted primary source to collect data from the respondents. In this study, a mixed research design- survey and correlational- was adopted. The total population was seven hundred and sixty-three (763) SMEs proprietors/managers. The sample size of the study was 262 derived statistically from Taro Yamane formula. The researcher adopted simple random sampling technique. Regression model and Pearson correlation coefficient were used to test the relationships between dependent and independent variables of the study. Two hundred and sixty-two (262) copies of questionnaire were distributed to selected SMEs in South-South, Nigeria. Eight (8) copies of questionnaire where wrongly filled and discarded with 3.1%. However, two hundred and fifty-four (254) copies of questionnaire were properly completed and returned, constituting 96.9% response rate. The findings of the study revealed that there was a significant difference between innovation and technology adoption on the sustainability of SMEs. There was a significant difference between business models and sustainability of SMEs. The study concludes that entrepreneurship development, through innovation, strategic business models, plays a critical and integrated role in driving the sustainability of SMEs in South-South Nigeria. The study recommended that SME owners and managers should increase investment in modern technologies such as digital platforms, cloud computing, automation tools, and business management software to improve operational efficiency, productivity, and long-term sustainability.
