SOCIAL MEDIA USAGE AND SMEs GROWTH IN BENIN CITY

ABSTRACT

Small and medium-sized enterprises (SMEs) are recognized as vital contributors to the growth and sustainability of economies worldwide. SMEs has played a significant role in the country's economy, accounting for over 80% of the country's industrial employment and contributing to about 50% of Nigeria's Gross Domestic Product (GDP). However, SMEs in Nigeria face several challenges, including limited access to finance, inadequate infrastructure, and limited technological know-how. Hence, these challenges have made it difficult for SMEs to compete effectively in the global market. As a result of this, this study examined social media usage and SMES growth in Benin City. In order to achieve this, a descriptive survey research design was used in eliciting response gotten from respondents. A structured questionnaire was administered to collect data from all working staffs in all SMEs within Benin City, Edo State. While the sample size was restricted to 360 employed workers. The collected data was analyzed using the simple percentage table. In the findings, it was revealed that there is a significant relationship between social media use and business growth in small and medium-sized enterprises (SMEs) in Benin City, Nigeria. It was also revealed that there is a significant or positive relationship between social media and profitability of SMEs in Benin City. Based on the findings, the study recommends that the government should provide support for SMEs to adopt and integrate modern technologies and digital tools into their operations such as digital infrastructure, support for e-commerce adoption and training in digital skills.