ENTREPRENEURIAL INNOVATION AND THE DEVELOPMENT OF SMALL SCALE AND MEDIUM SCALE ENTERPRISES IN PRINCE ABUBAKAR AUDU UNIVERSITY ANYIGBA, KOGI STATE
Abstract
This study examines the impact of entrepreneurial innovation on the development of small and medium-scale enterprises (SMEs) in Prince Abubakar Audu University. The study aims to investigate how entrepreneurial innovation contributes to the growth, sustainability, competitiveness, and overall performance of SMEs within the university community and its surrounding environment. Entrepreneurial innovation is considered a key driver of business success, enabling enterprises to introduce new products, improve services, adopt modern technologies, and respond effectively to changing market demands.
A descriptive survey research design was adopted for the study. Data were collected from selected SME owners and operators through the use of structured questionnaires. The collected data were analyzed using appropriate statistical methods to determine the relationship between entrepreneurial innovation and SME development. The findings revealed that entrepreneurial innovation has a significant positive effect on business growth, profitability, customer satisfaction, and market expansion. The study also identified challenges such as inadequate access to finance, limited technological resources, and insufficient entrepreneurial training, which hinder the effective implementation of innovative practices among SMEs.
The study concludes that entrepreneurial innovation plays a vital role in promoting the development and sustainability of SMEs. It recommends that entrepreneurs should continuously adopt innovative strategies, while government agencies, financial institutions, and educational institutions should provide adequate support through funding, training, and access to modern technologies. These measures will enhance the growth and competitiveness of SMEs and contribute to economic development in Anyigba, Kogi State.
Keywords: Entrepreneurial Innovation, Small and Medium-Scale Enterprises, SME Development, Innovation, Entrepreneurship, Business Growth, Anyigba, Kogi State.
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