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Innovative Technology and Performance of Family-Owned Small Businesses in Africa

In: Vulnerability and the Future of Small Business in Industry 5.0

Author

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  • Timilehin Olasoji Olubiyi

    (West Midlands Open University, Faculty of Management and Social Sciences)

Abstract

The post-pandemic business landscape in Africa is characterized by a lack of performance and innovative technology, which continues to generate public discussion, concerns, and scientific interest. This chapter aims to determine the association between innovative technology and the long-term profitability of family businesses with a representative sample of selected family-owned small businesses in Nigeria. Due to its economic significance in Africa, this study employed a survey method with the target population from Nigeria. Four hundred sixty-nine owner-managers from family-owned small businesses in Lagos State, Nigeria's economic capital, were considered the sample size. Copies of adapted and validated questionnaires were used to collect study data. The chapter concludes that adopting innovative technology is a competitive behavior that can increase performance and ensure the long-term survival, and sustainability, of the family-owned small businesses in Africa. These findings have theoretical and practical consequences within the family-owned small business landscape. It is recommended that management, operators, and owner-managers should increasingly consider incorporating innovative technologies into strategic vision and plans to increase their performance and competitive advantage, as it may be advantageous as a competitive differentiator.

Suggested Citation

  • Timilehin Olasoji Olubiyi, 2026. "Innovative Technology and Performance of Family-Owned Small Businesses in Africa," Springer Books, in: Timilehin Olasoji Olubiyi (ed.), Vulnerability and the Future of Small Business in Industry 5.0, chapter 0, pages 107-130, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-98431-0_5
    DOI: 10.1007/978-3-031-98431-0_5
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