The Influence of Innovativeness on the Growth of SMEs In Kenya
DOI:
https://doi.org/10.18533/ijbsr.v3i1.84Abstract
Innovation is the process of creating a commercial product from an invention. Innovation can deliver four types of benefits besides cash: knowledge, brand, ecosystem and culture. The main objective of the study was to establish the influence of innovativeness on the growth of SMEs in Kenya. The study adopted descriptive survey and exploratory design. The study targeted 4560 SMEs in Nairobi County who are registered by Ministry of Industrialization and Ministry of Trade. Regression models were used to examine the influence of innovativeness skills on growth of SMEs in Kenya. Questionnaires were used as the main data collection. Descriptive statistics and inferential data analysis method was to analyze the gathered data.
The findings indicated that innovativeness influences the growth of SMEs in Kenya. The tendency of owner/manager to engage in and support new ideas, novelty, experimentation and creative processes results in new products, services or technological processes which has a great influence on the performance of SMEs.
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