THE INFLUENCE OF ENTREPRENEURIAL CHARACTERISTICS ON SMALL AND MEDIUM-SIZED ENTERPRISES’ PERFORMANCE IN BENIN CITY, EDO STATE

ABSTRACT

This study assesses the impact of social media marketing on Small and Medium scale Enterprises (SMEs) development in Benin City, Nigeria. Five hypotheses were formulated for the study. A descriptive cross sectional research design was adopted. The population comprised of SMEs in Ugbowo axis, Benin City, from which a sample of one hundred (100) were selected using the convenient sampling method. Data was collected using a structured questionnaire and analyzed using descriptive (simple percentage, mean, standard deviation) and inferential statistics (linear regression). Results indicated that risk-taking, creativity/innovation, resilience and adaptability were significantly related to SMEs‘ performance (p < 0.05), while self-confidence showed no significant relationship (p > 0.05). The study concluded that risk-taking, creativity, resilience and adaptability had significant impact on SMEs performance, whereas self-confidence had no significant impact. It recommended that SMEs should ensure that in the exercise of self-confidence, actions and decisions that may negatively impact performance are taken with caution and are well-articulated, SMEs should consider other factors that contribute to business performance which could have indirect negative impact on performance, government should consider policies like provision of incentives, conductive business environment that boost SMEs performance.