TECHNOLOGY INCUBATION CENTERS (TICS) AND SMES PERFORMANCE IN NIGERIA

Abstract

Technology Incubation Centers (TICs) have become critical tools in promoting entrepreneurship and Small and Medium Enterprises (SMEs) development, globally, especially in emerging economies. They are set of specialized centers offering programmes that augment and support the growth and development of business enterprises. This study explores the impact of Technology Incubation Centers (TICs) on the performance of Small and Medium Enterprises (SMEs) in Nigeria. A descriptive survey was used to select a total of 308 SMEs in Lagos, Abia, and Kano states, Nigeria that have used the TICs in these states within the years of 2017 and 2020 ensuring the selected enterprises have about five years of post-incubation existence. Research Advisor table was used to select a total 169 through a simple random sampling technique. A structured questionnaire was distributed electronically to elicit data from the respondents through their WhatsApp and E-mail addresses with the aid of the registries of the TICs in the selected states. The data collected from the respondents were all analyzed using multiple regression analysis, frequency, percentage, mean, and standard deviation while the hypothesis were tested at 0.05 level of significance using SPSS statistical tool. The study found that, incubators significantly and favorably affect SMEs' sales growth and that, TICs mentorship positively and significantly influenced the selected SMEs competitiveness in Nigeria. In view of this, Nigeria government through the TICs coordinating ministry, the Federal Ministry of Science and Technology should ensure more availability of latest and essential technological infrastructure at the TICs. TICs should engage in more robust mentoring activities that will aid the SMEs competitiveness and overall operation, thereby increasing their performance