Digital Market Analysis and Business Performance of Small and Medium Enterprises (SMEs) in South-East, Nigeria (Published)
This study examined the relationship between digital market analysis and business performance of Small and Medium Enterprises (SMEs) in South- East, Nigeria. The rapid advancement in information and communication technology has transformed business operations globally, compelling SMEs to adopt digital tools for market intelligence, customer engagement, and competitive positioning. Despite the increasing relevance of digital market analysis, many SMEs in South-East, Nigeria still struggle with poor market information systems, limited digital capabilities and inadequate utilization of data-driven strategies. The objectives of the study were to determine the effect of online consumer analysis, digital competitor analysis, social media analytics and electronic market forecasting on SME performance. The population of the study comprised of 21320 SMEs in the studied states. The sample size of 392 was drawn from the population of the study using Taro Yamani sample size determination method. The study adopted a descriptive survey research design. Data were collected from SME owners, managers and their employees through structured questionnaires. Descriptive and inferential statistical techniques were used in analyzing the data. Findings revealed that digital market analysis significantly improves SMEs performance, customer satisfaction, sales growth, market expansion, and business sustainability of SMEs. The study concluded that SMEs that effectively utilize digital market analysis tools achieve superior business performance and competitive advantage. The study recommended that SME operators should invest in digital analytics tools, employee training, and customer data management systems to improve decision-making and sustainability.
Keywords: Business Performance, Consumer Behavior, Digital market analysis, Nigeria, SMEs, South-East, digital competitor analysis, electronic market forecasting, online consumer analysis, social media analytics
Small and Medium Scale Enterprises and Economic Growth in Nigeria (Review Completed - Accepted)
ABSTRACT
The study empirically evaluates the impact of small and medium scale enterprises on the growth of the Nigerian economy using the error correction method (ECM). The study adopted annual times series data for Nigeria spanning a period of 43 years (1970 to 2012). The finding of our results suggests that the theoretical modeling requirements for all the variables used in the regression satisfy the statistical requirements that determine the choice of the statistical model. The result from the estimated model shows that both human capital development (HCD) and bank loans to small and medium scale enterprises (BLSME) were statistically significant as well as positively influence the growth of the Nigerian economy. Therefore, more concerted effort should be employed by government at all level to make training and retraining of their man–power both in public and private sectors to acquire the necessary skills required in modern business technique. This will boost their efficiency and productivity as well as bolster its share in the growth of the country’s economy. In the light of the foregoing, we recommend that government at all level should provide incentives and favourable business environment for SMEs to flourish. It should also sustain the current ongoing reforms in the sector to stimulate productivity as well as the continuous enlightenment campaign by the Central Bank of Nigeria, banking industries, relevant government ministries and agencies while indigenous entrepreneurs must be ready to show greater desire to institutionalize and separate company from self and be ready to be helped
Keywords: Error correction method, SMEs, Stability, economic growth