The Relationship Between Innovative Skills and Market Dynamics of Micro, Small and Medium Enterprises (MSMEs) in Anambra State.

Abstract:

Many Micro, Small, and Medium Enterprises (MSMEs) in Anambra State face challenges in responding effectively to changing market conditions, largely due to inadequate innovative skills among their owners and managers, which hampers growth and competitiveness. The study investigates the relationship that exists between innovative skill and market dynamics of MSMEs in Anambra State. A quantitative research design was utilised, with primary data collected through structured questionnaires and interviews administered to 331 purposively selected MSME owners and managers. Descriptive statistics were employed to analyse respondents' demographic data, and hypotheses were evaluated using simple regression analysis in SPSS version 27. The findings revealed that innovative skills has a significant positive relation on market dynamics of micro, small and medium enterprises in Anambra State. It is recommended that government agencies, business development service providers, and stakeholders in the MSME sector organize regular innovation training programs and workshops to enhance the innovative capabilities of MSME owners and managers, thereby improving their adaptability to market changes and increasing overall business performance.