Abstract
Small and
medium-sized businesses (SMEs) are crucial for the growth of economies and the
creation of jobs in most emerging nations. This study’s goal is to investigate and
evaluate how innovations affect the development and competitiveness of SMEs in
South Africa. Purposive sampling was used to identify the study participants.
The study uses a quantitative research approach that enables the collection and
analysis of numerical data from a sample size of 400 SME owners and managers.
According to the study’s findings, SMEs that are innovative in their operations
have a higher chance of surviving, expanding, and remaining competitive in the
market than those that are not. It has been found that a variety of
innovation-related factors, such as product innovation, process innovation,
marketing innovation, and organisational innovation, have a considerable
positive impact on the development and competitiveness of SMEs. The study
suggests that governments, trade groups, and business support organisations
should play a significant part in fostering an atmosphere that encourages
innovation among SMEs.
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IJBMS by IPRPD is licensed under a Creative Commons Attribution 4.0 International License.