Entrepreneurial Networking Skills and Growth of Small and Medium Plastics Manufacturing Enterprises in Nigeria
DOI:
https://doi.org/10.47941/jepm.1530Keywords:
Entrepreneurial, Networking, Skills, Growth, SMEs, NigeriaAbstract
Purpose: The purpose of this study was to establish the influence of entrepreneurial networking skills on growth of small and medium plastic manufacturing enterprises in Nigeria.
Methodology: Mixed methods research design was applied by the study. The study target population was 18,476 plastics manufacturing SMEs in LAGOS State, Nigeria. Based on Yamane Formula adopted the sample size for this study was 397 respondents. Random sampling was used to select the 392 plastics manufacturing SMEs. The study therefore randomly selected 392 plastics manufacturing SMEs from a list of total lists of these is 18476 plastics manufacturing SMEs in LAGOS State, Nigeria. The managing director/CEO of these enterprises were the main respondents therefore the study administered 392 questionnaires. The study used semi structured questionnaires to collect primary data. The study used SPSS version 27 software to analyse the data. Both descriptive and inferential analyses were carried out.
Results: The inferential analysis results revealed that entrepreneurial networking skills had a significant and positive influence on the growth of small and medium plastic manufacturing enterprises in Nigeria at p<0.05. This indicates that strategic question asking, ability to get referrals and value adding skills are crucial drivers of growth of small and medium plastic manufacturing enterprises. The Coefficient of determination R2 of 0.470 showed that 47.0% of Growth of SMEs is explained by entrepreneurial financial skills. The R value for the model was 0.686 and the R2 was 0.470. This was a sign that the model was appropriate for establishing the link between entrepreneurial networking skills and the growth of small and medium plastic manufacturing enterprises and, as a result, for drawing the conclusions and suggestions from the study.
Unique contribution to theory, practice and policy: While the existing Social network entrepreneurship theory used in this study was validated, the study recommends that SMEs in Nigeria should form quality networking which will enable them to create social communities shared by stakeholders such as customers, suppliers, other enterprises. According to the study, policymakers and state regulatory organizations should take the lead in formulating favourable legislation and policies that will provide friendly operating environment to enhance the growth of SMEs.
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Copyright (c) 2023 Jolly Joshua Habila Dauda, Prof. Gregory Namusonge, Dr. Samson Nyang'au
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