Social Network: A Catalyst for Small and Medium Enterprises For Self-Reliance.

• Author(s): Agwadu, Damian Kunza PhD ; Akwayi Ishaku ; Adekunle, Elizabeth Oluwadamilola
• Paper ID: 1709538
• Page: 439-448
• Published Date: 11-07-2025
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 9 Issue 1 July-2025

Abstract

Small and medium enterprises contribute significantly to the growth and development of the economy of various countries. It is therefore, an important segment of every country’s economy. For a country to grow and be self -reliant, the small and medium enterprises must not suffer neglect. This study examines social network as a catalyst for small and medium enterprises for self-reliance. The specific objectives of this research include to; find out ways in which Small and Medium Enterprises use Social Networks to boost awareness, assess the benefits of Social Networks to Small and Medium Enterprises, explore the challenges confronting Small and Medium Enterprises in the use of social networks. The Technology Acceptance Model of Fred Davis and Richard Bagozzi was adopted for theoretical framework. Survey research design was used. Cochran formula for sample size determination was adopted to arrive at a representative sample size. 385 copies of questionnaire were distributed. However, only 375 were retrieved for analysis. Data was collected from both primary and secondary sources. Data was analyzed through the use of percentages, mean and standard deviation. Findings indicates that SMEs makes use of social networks to introduce their brand to wider audience. It also shows that they share content and participate in relevant conversations and increase brand visibility. Findings also shows that social networks help increase awareness and recognition of brands and products. Findings equally shows that the rate to which technical expertise is effectively utilised by SMEs is insufficient. It was recommended that Government should create a board that will constantly train individuals involved in Small and Medium Enterprises on the technical and effective utilization of social networks. It was further recommended that Small and Medium Enterprises should foster social media culture.

Keywords

Small and medium enterprises, self-reliance, social network, and Technology Acceptance Model.

Citations

IRE Journals:
Agwadu, Damian Kunza PhD , Akwayi Ishaku , Adekunle, Elizabeth Oluwadamilola "Social Network: A Catalyst for Small and Medium Enterprises For Self-Reliance." Iconic Research And Engineering Journals Volume 9 Issue 1 2025 Page 439-448

IEEE:
Agwadu, Damian Kunza PhD , Akwayi Ishaku , Adekunle, Elizabeth Oluwadamilola "Social Network: A Catalyst for Small and Medium Enterprises For Self-Reliance." Iconic Research And Engineering Journals, 9(1)