Effect of innovation on agricultural-based micro, small and medium enterprises survival in Nigeria Online publication date: Sun, 18-Sep-2022
by Benneth Uchenna Eze
World Review of Entrepreneurship, Management and Sustainable Development (WREMSD), Vol. 18, No. 5/6, 2022
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.
Online publication date: Sun, 18-Sep-2022
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