Technovation and Performance of Smallscale Enterprises in Benin City Nigeria
This study discussed the impact of technovation and performance of small scale enterprises in Benin City Nigeria. Creative innovation and information communication technology were adopted to measure number of employee and profitability of technological enterprises. Quantitative research approaches were used, while cross-sectional and longitudinal survey research method was adopted to examine the effect of technovation on performance of small scale enterprises. The population for this study was six- thousand, eight hundred and fifty (6850) registered computer engineers in Benin City Nigeria. 5-Likert Scale close-ended Questionnaire was designed to collect data, the method of data analysis is multiple regression under the SPSS (Statistical Package for Social Science, version 21) application. Findings showed that creative innovation had a strong significant relationship with number of employee and profitability, while information communication technology had a strong significant relationship with number of employee and profitability of technological enterprises. This is shown through their probability value (0.000, 0.000, 0.000 and 0.000) which are less than the chosen 10% significance level. The study recommended that Nigerian computer engineers need to introduce creative ideas to improve business services which enhanced technological devices through business processes. They need to seek new marketing methods through creativity, by perceiving innovation as an opportunity. There should be team building through information technology and Nigerian technological platform needs strategic business plan for expansion. The study concluded that there are technological devices that can enhance business processes but engineers need to seek new marketing methods through creativity. Just few technological firms introduced creative ideas to improve their business services, which had affected their business growth. The use of Information and communication technology needs to be increased to facilitate increased use of internet services in Nigerian small scale enterprises.
Keywords - Technovation, Performance and Small Scale Enterprises