The role of Technology Incubation Centres for Small and Medium Enterprises in Nigeria

• Author(s): Somefun Akinwunmi Taiwo ; Solomon E. Esomu
• Paper ID: 1703967
• Page: 268-276
• Published Date: 31-12-2022
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 6 Issue 6 December-2022

Abstract

In Nigeria, there are expected benefits of the technology Incubation Program for SMEs. Despite the presence of these centers, many SMEs are underperforming. Many incubation centres were established to influence and promote entrepreneurship so that it could add to the economy of a country. However, the performance of these incubators has been less than desirable. The paper, therefore, looks at the role of technological incubator centres in the growth of SMEs in Nigeria. The methodology employed was a cross-sectional survey design. The research was carried out in Lagos State and Abia State. The population for the study was 790 SMEs. Out of that number, 279 were chosen at random. The instrument of data collection was an adapted questionnaire. Ten samples (10% of the sample size) were used to test the reliability of the questionnaire. The Cronbach Alpha Level was 0.79. 250 copies of the questionnaires were coded and used for analysis. To analyze the data, statistical tools like frequency, percentage, mean, and multiple regression analysis were used. The statistical software employed was SPSS version 21. The findings revealed that incubator centers have a positive and significant effect on the profitability of SMEs (= 0.775, t = 24.801, p <0.05). Furthermore, technological incubator centers have a positive and statistically significant effect on the competitiveness of SMEs (=0.775, t = 24.801, p <0.05). The only access to technological facilities had a positive effect on profitability and competitiveness(p <0.05). The study concludes that Technology Incubation Centres play a significant role in Small and Medium Enterprises in Nigeria in the area of profitability and competitiveness. It was recommended that TICs improve their strengths in the area of finance and their skills in collaboration and teamwork.

Citations

IRE Journals:
Somefun Akinwunmi Taiwo , Solomon E. Esomu "The role of Technology Incubation Centres for Small and Medium Enterprises in Nigeria" Iconic Research And Engineering Journals Volume 6 Issue 6 2022 Page 268-276

IEEE:
Somefun Akinwunmi Taiwo , Solomon E. Esomu "The role of Technology Incubation Centres for Small and Medium Enterprises in Nigeria" Iconic Research And Engineering Journals, 6(6)