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Articles

Vol. 8 No. 1 (2024): CJOE: VOL. 8 NO. 1, JUNE 2024

Demystifying the Role of Technological Entrepreneurship on the Performance of Medium-Scale Enterprises (MSEs)

Submitted
May 7, 2024
Published
2024-05-07

Abstract

This study delves into the impact of technological entrepreneurship on Micro and Small Enterprises
(MSEs) in Lagos, Nigeria, shedding light on how integrating technological entrepreneurship into
business operations can unlock opportunities for improved product or service quality, sales growth,
and profitability. Conversely, it reveals that non-technological entrepreneurial activities may hinder
MSEs' entrepreneurship and productivity. Employing a mixed research approach, combining primary
and secondary data, the study employs descriptive and inferential statistics, including panel regression
analysis and correlation coefficients, to assess the implementation of technological entrepreneurship
and its effect on business performance. Notable findings pinpoint factors influencing technological
entrepreneurship implementation, such as Business Size, Perceived Ease of Use, Cost of Technology
Deployment, Perceived Benefit, Market Dynamism, and Business Environment, all significantly
impacting business performance. Identified obstacles to technological entrepreneurship
implementation include Inconsistency in Government Policy, Lack of Proper IT Proficiency, Fear of
Data Insecurity, High Cost of Technology Deployment, and Legacy Culture Thinking. The study
concludes that technological entrepreneurship significantly propels MSEs' performance in Lagos and
urges entrepreneurs to bolster their technological capacity for heightened productivity. Moreover, it
underscores the social implications, such as the potential for job creation, economic growth, and
heightened competitiveness within the MSE sector, emphasizing the pivotal role of entrepreneurs in
advancing both business performance and broader societal development.