Journal of Business and Economic Development

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Innovative Performance of Small and Medium Scale Enterprises

Received: 16 October 2018    Accepted: 22 November 2018    Published: 26 December 2018
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Abstract

A driving force for competition in the present business environment is innovation. In a rapidly changing world, the need for innovation has increased. In many ways, innovation has become an important tool in the management of organisations, ensuring they have real opportunities to advance. Whiles only few innovative performance studies of Small and Medium Scale Enterprises (SMEs) in Ghana have been conducted, they evince low levels of innovation among surveyed SMEs. Thus, a study that focuses on innovative characteristics of SMEs in the Ghanaian context is key. The aim of the study is to examine factors constraining innovative performance of small and medium enterprises in Adentan Municipality of Ghana. The survey method of data collection was used to sample 400 respondents selected to obtain primary data for the study. Descriptive statistics were applied to the quantitative data. The study revealed that uncertainty, and financial and technological related constraints are the major factors constraining the innovative performance of SMEs in the Adentan Municipality. The study also pointed to financial and technical support as possible ways to curb the constraining factors of innovative performance among SMEs. At the same time, SMEs need to promote workers’ access to technology to improve innovation processes and support growth by increasing investment in Information Communication Technology (ICT). Deliberate mechanisms to facilitate access to technical and financial support for SMEs by government is recommended.

DOI 10.11648/j.jbed.20180304.11
Published in Journal of Business and Economic Development (Volume 3, Issue 4, December 2018)
Page(s) 106-112
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Innovative Performance, Small and Medium Scale Enterprises, Adentan Municipality

References
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Author Information
  • Research and Consultancy Centre, University of Professional Studies, Accra, Ghana

  • Department of Banking and Finance, University of Professional Studies, Accra, Ghana

  • Department of Banking and Finance, University of Professional Studies, Accra, Ghana

  • Department of Banking and Finance, University of Professional Studies, Accra, Ghana

  • Department of Banking and Finance, University of Professional Studies, Accra, Ghana

Cite This Article
  • APA Style

    Joseph Kwadwo Tuffour, Martina Awonate Agbaam, Felicia Lynda Edzeame, Ellen Efua Ntiamoah Aye-Darko, Kingsley Darko. (2018). Innovative Performance of Small and Medium Scale Enterprises. Journal of Business and Economic Development, 3(4), 106-112. https://doi.org/10.11648/j.jbed.20180304.11

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    ACS Style

    Joseph Kwadwo Tuffour; Martina Awonate Agbaam; Felicia Lynda Edzeame; Ellen Efua Ntiamoah Aye-Darko; Kingsley Darko. Innovative Performance of Small and Medium Scale Enterprises. J. Bus. Econ. Dev. 2018, 3(4), 106-112. doi: 10.11648/j.jbed.20180304.11

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    AMA Style

    Joseph Kwadwo Tuffour, Martina Awonate Agbaam, Felicia Lynda Edzeame, Ellen Efua Ntiamoah Aye-Darko, Kingsley Darko. Innovative Performance of Small and Medium Scale Enterprises. J Bus Econ Dev. 2018;3(4):106-112. doi: 10.11648/j.jbed.20180304.11

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  • @article{10.11648/j.jbed.20180304.11,
      author = {Joseph Kwadwo Tuffour and Martina Awonate Agbaam and Felicia Lynda Edzeame and Ellen Efua Ntiamoah Aye-Darko and Kingsley Darko},
      title = {Innovative Performance of Small and Medium Scale Enterprises},
      journal = {Journal of Business and Economic Development},
      volume = {3},
      number = {4},
      pages = {106-112},
      doi = {10.11648/j.jbed.20180304.11},
      url = {https://doi.org/10.11648/j.jbed.20180304.11},
      eprint = {https://download.sciencepg.com/pdf/10.11648.j.jbed.20180304.11},
      abstract = {A driving force for competition in the present business environment is innovation. In a rapidly changing world, the need for innovation has increased. In many ways, innovation has become an important tool in the management of organisations, ensuring they have real opportunities to advance. Whiles only few innovative performance studies of Small and Medium Scale Enterprises (SMEs) in Ghana have been conducted, they evince low levels of innovation among surveyed SMEs. Thus, a study that focuses on innovative characteristics of SMEs in the Ghanaian context is key. The aim of the study is to examine factors constraining innovative performance of small and medium enterprises in Adentan Municipality of Ghana. The survey method of data collection was used to sample 400 respondents selected to obtain primary data for the study. Descriptive statistics were applied to the quantitative data. The study revealed that uncertainty, and financial and technological related constraints are the major factors constraining the innovative performance of SMEs in the Adentan Municipality. The study also pointed to financial and technical support as possible ways to curb the constraining factors of innovative performance among SMEs. At the same time, SMEs need to promote workers’ access to technology to improve innovation processes and support growth by increasing investment in Information Communication Technology (ICT). Deliberate mechanisms to facilitate access to technical and financial support for SMEs by government is recommended.},
     year = {2018}
    }
    

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    T1  - Innovative Performance of Small and Medium Scale Enterprises
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    AU  - Martina Awonate Agbaam
    AU  - Felicia Lynda Edzeame
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    AB  - A driving force for competition in the present business environment is innovation. In a rapidly changing world, the need for innovation has increased. In many ways, innovation has become an important tool in the management of organisations, ensuring they have real opportunities to advance. Whiles only few innovative performance studies of Small and Medium Scale Enterprises (SMEs) in Ghana have been conducted, they evince low levels of innovation among surveyed SMEs. Thus, a study that focuses on innovative characteristics of SMEs in the Ghanaian context is key. The aim of the study is to examine factors constraining innovative performance of small and medium enterprises in Adentan Municipality of Ghana. The survey method of data collection was used to sample 400 respondents selected to obtain primary data for the study. Descriptive statistics were applied to the quantitative data. The study revealed that uncertainty, and financial and technological related constraints are the major factors constraining the innovative performance of SMEs in the Adentan Municipality. The study also pointed to financial and technical support as possible ways to curb the constraining factors of innovative performance among SMEs. At the same time, SMEs need to promote workers’ access to technology to improve innovation processes and support growth by increasing investment in Information Communication Technology (ICT). Deliberate mechanisms to facilitate access to technical and financial support for SMEs by government is recommended.
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