Title: Effect of innovation on agricultural-based micro, small and medium enterprises survival in Nigeria
Authors: Benneth Uchenna Eze
Addresses: Department of Business Administration, Christopher University, Mowe, Ogun State, Nigeria
Abstract: This study examines the effect of innovation, particularly process innovation, product innovation and market innovation, on the survival of agricultural-based MSMEs in Nigeria. Survey research design was employed, by administering structured questionnaires on some selected chief executives of agricultural-based MSMEs in Lagos, Kano and Anambra states. The findings revealed that product innovation, process innovation and market innovation have a positive and significant individual effect on the survival of agricultural-based MSMEs, with coefficients and probability values of β1 = 3.049, P-value<0.05; β2 = 5.152, P-value<0.05; β3 = 4.919, P-value<0.05 for product innovation, process innovation and market innovation respectively. The F-stat (22.803, P-value<0.05) shows that innovative elements are good predictors of enterprise survival of the selected agricultural-based MSMEs. The Adjusted R² suggested that a 35.6% variation in agricultural-based MSMEs survival is accounted for by the innovative elements. Conclusively, innovativeness has a significant effect on agricultural-based MSMEs' survival.
Keywords: agriculture; innovation; market innovation; MSMEs; process innovation; product innovation.
World Review of Entrepreneurship, Management and Sustainable Development, 2022 Vol.18 No.5/6, pp.500 - 513
Received: 08 Jul 2020
Accepted: 12 Oct 2020
Published online: 18 Sep 2022 *