Purpose: Business innovation is the improvement made on the array of products and services of a firm. Thus, this study investigates the influence of knowledge exchange on business innovations among SMEs in Ogun State, Nigeria.
Design / Methodology: The study adopted survey research design. The population of the study comprised 415 staff employed by 55 SMEs in the state. A sample size of 204 was determined with the aid of Taro Yamane determinator. A proportionate sampling technique was used to select respondents through the structured and validated questionnaire that was designed for data collection. Cronbach’s alpha reliability coefficients for the variables ranged from 0.70 to 0.88, while a return rate of 100% was achieved. Data were analysed with descriptive and inferential (simple linear and multiple regression) statistics.
Findings: Findings revealed that knowledge exchange had a positive significant influence on business innovation of SMEs in Ogun State. Nigeria The result further indicated that all the measures of knowledge exchange were significant. Based on the findings, this study recommends that SMEs should make more provision for collaboration, improved communication, training and encouragement of staff so as to improve their current achievements in business innovations.
Originality / Value: The study has been able to fill some gaps noticed in the literature and also provided empirical justification on the influence of knowledge exchange on business innovation. It has also help to generate new knowledge needed for policy and decision-making relating to accessing innovativeness in SMEs.