Entrepreneurship Social Networks on Small and Medium Enterprises success in Delta state, Nigeria

Abstract

The aim of the study is to ascertain how using social networks in entrepreneurship relates with Small and Medium Enterprises (SMEs) success in Delta State, Nigeria. A cross-sectional research approach was adopted in this study. Four hundred and fifty (450) selected entrepreneurs made up the sample. The basic random sampling technique was used. With the help of "Survey Monkey," a total of 300 sets were used for analysis. The instrument was subjected to face and content validity checks before its reliability was evaluated using the Cronbach alpha test. Since the focus of the study involves measuring effects, the statistical tools employed in the data analysis included OLS multiple regression, correlation, the Jacque Bera normalcy test, and descriptive statistics. Stata version 13.0 was the statistical software utilized in the study to analyse the data. The findings indicate that the dimensions of entrepreneurship using social networks such as opportunity recognition, resource acquisition, market entry and growth affect significantly with SMEs success. It was concluded that entrepreneurship is inherently a social endeavour, with success often hinging on the quality and extent of an entrepreneur's social networks; this led to the recommendation that government and nongovernmental organizations should fund digital literacy and entrepreneurship programs focused on social media to affect the success of SMEs across the state and the nation at large.