Jurnal Aplikasi Manajemen.
Ekonomi dan Bisnis Vol.
No.
October 2024 ISSN 2541-1438.
E-ISSN 2550-0783
Published by STIM Lasharan Jaya Social Networking Sites and Performance of Small and Medium Enterprises: Evidence from OYO State.
Nigeria Kayode Muhammed Ibrahim1.
Akintunde A Akintayo2.
Emmanuel Ayeni3.
Abidemi Hassan4 Kwara State University kama93@gmail.
Osun State University akintayo@uniosun.
Bowen University emmanuelayeni05@gmail.
University of Southampton hh3n23@soton.
ARTICLE DETAILS
ABSTRACTS
History Received : August Revised Format : September Accepted : October Social networking sites play a significant role in the performance of small and medium enterprises (SME.
, particularly in terms of enhancing productivity and profitability.
Also, thereAos little evidence linking social media sites with performance of SMEs within emerging economies like Nigeria.
This study provides empirical evidence on how SMEs utilize social networking sites to enhance their performance and competitiveness.
The population of the study consisted of SME owners and managers within Ibadan metropolis in Oyo State.
The sample size is made up of 385 Data was obtained using a structured questionnaire while purposive sampling method was employed in the study.
Data analysis was done using descriptive statistics while multinomial regression was used to test the hypothesis formulated.
The findings revealed that social networking sites have a positive significant .
< 0.
influence on the performance of small and medium enterprises in Oyo state.
Nigeria.
These findings underscore the importance of leveraging social networking platforms as strategic tools for enhancing the performance and competitiveness of SMEs in the study area.
The study therefore recommends the need for business owners to incorporate social marketing sites into their business strategy for sustainable business growth and performance in this digital age.
Keywords :
social networking sites.
SMEs, social media, performance A2024 STIM Lasharan Jaya Makassar Introduction The importance of small and medium enterprises (SME.
cannot be overstated, as they play a pivotal role in driving economic growth.
SMEs are often regarded as the lifeblood of any The role of small enterprises in generating wealth, jobs, and sustainability has also been acknowledged (Gbandi & Iyamu, 2.
Many business owners are seeking different strategies to enhance their company's performance due to the lackluster results seen in numerous SMEs (Bahl & Kesharwani, 2.
One notable trend is the increasing number of small and medium-sized enterprises embracing social media platforms.
Small and mediumsized enterprises are finding social media to be an effective tool for connecting with their customers, promoting their products or services, and reaching their desired audience.
It's a userfriendly platform that offers convenience and accessibility.
It is important to note that small and medium-sized enterprises (SME.
utilise social media for various reasons beyond Social media has proven to be an invaluable tool for generating leads, building *Corresponding Author Email Address: ibrahim.
kama93@gmail.
A 2024 STIM Lasharan Jaya Makassar Ibrahim .
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28-40 brand awareness, and providing top-notch customer service (Akhtar et al.
, 2.
Many small and medium-sized enterprises find it valuable to use this communication tool to share information about offers, discounts, promotions, order processes, and essential steps in the sales process.
Social media communication channels such as Blogs.
Facebook.
Instagram.
TikTok.
Twitter.
LinkedIn.
WhatsApp.
Telegram.
Myspace.
YouTube, and Vimeo have gained widespread recognition and acceptance among SMEs as essential tools for gaining a competitive edge, particularly in well-developed economies (Mohammed & Hussaini, 2.
Networking sites are now a central driving force in the day-to-day activities of SMEs and are recognized as a crucial tool for fostering business expansion and enhancing the performance of small and medium enterprises (Talaue et al.
, 2.
Despite the significant contributions that small and medium-sized businesses make to economic development and expansion, they often encounter challenges from competition that hinder their progress.
This situation has compelled marketers, lawmakers, entrepreneurs, and SMEs themselves to explore alternative strategies to access their target markets and foster client loyalty.
Social networking sites have been considered a way to influence many aspects of consumer behaviour, especially in small and medium-sized enterprises, to effectively retain customers (Gbandi & Iyamu, 2.
Examining the impact of social networking sites on the performance of small and medium enterprises holds significance from various angles.
The results of this study will enhance comprehension of SME performance by offering insights gleaned from existing literature on the subject, particularly regarding the influence of social networking sites.
Furthermore, the study will provide an explicit explanation of how SMEs' performance is built through social networking sites.
It will also help professionals in the fields of marketing, entrepreneurship, and business administration to know how best to combine social networking sites and inform business owners and managers on the choice of social networking sites that help in the performance of SMEs.
Based on the objective of this study, the null hypothesis to be tested in this study is formulated H01: There is no significant relationship between social networking sites and the performance of SMEs.
Literature Review Conceptual Review Social Media Social media is a term used to describe a group of web applications that facilitate the production and sharing of user-generated content.
The technological and intellectual foundations of Web 0 serve as the foundation for these programmes (Eze et al.
, 2.
According to Appel et al.
, .
, electronic messaging is a type of communication where individuals create online groups to share ideas, knowledge, messages from friends, and other Tajvidi and Karami .
, viewed social media as a platform where individuals and groups of businesses engage solely for the aim of addressing specific requirements.
Social media will be referred to for the sake of this study as an online platform where people and businesses engage with one another to influence others, disseminate information, or express one's feelings to fulfill a predetermined objective.
Ibrahim .
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28-40 Social Media's Functions Wide-ranging social media functions have become indispensable in the dayAetoAeday business Among the various roles that social media plays, the following are the most notable and significant ones (Palla & Sheikh, 2021.
Juliana et al.
, 2021.
Gbandi & Iyamu, 2.
Communication: Social media, albeit still a relatively new phenomenon, has emerged as one of the most powerful tools for communication ever.
Cooperation: There is an amazing level of teamwork.
Nearly all Internet users these days participate in social media conversations, blogging.
Google Talk hangouts, and other activities daily.
Responding to each other's posts, which may or may not incorporate multimedia, allows members of an open or closed community to converse with one another.
Education: The third major goal of social media is to inform the public.
Using social media, the entire community organization is transformed into an international classroom.
Social media has made it possible to hold virtual classes anywhere in the world.
The use of technology in social media enables the best resources in the world to be made accessible to all interested parties.
Engagement: By indulging them in some capacity, every employee of the company can be held equally accountable.
Such a process not only boosts their spirits but also opens the way for them to feel like a part of the team and generate more innovative ideas to improve the effectiveness of the company at any given time.
Monitoring: Another essential social media feature is monitoring.
It provides an accurate picture of the situation in real-time.
For example.
Google Analytics offers an accurate view of the total number of visitors at any one time.
Social Networking Sites Twitter.
Facebook, and other networking sites have virtually become a part of every aspect of modern culture.
Even, individuals who do not create an account or use the internet regularly still become aware, through others what information is available on these social media The social networking site's user list primarily distinguishes the two.
User lists are frequently based on weak linkages, poor relationships, and even weak family and work ties.
is still feasible to do this, but many social networking services forbid users from adding connections they are unaware of.
Social networks at first offered a fantastic opportunity to expand your network.
The majority of political action, according to research, is done to promote already held beliefs, yet social networking sites are still widely used, in part because users desire to interact with others who share their interests in these platforms as it allows people to express their political or social ideas in a public setting.
An increasing number of people are utilising networking websites to find spouses, but they are also using these sites to make friends and find activity partners (Palla & Sheikh, 2.
They are also using these websites to advertise their businesses by bringing them to the public's attention and encouraging sales success.
To advertise their success, some people use websites.
Social networking sites has become a popular tool among entrepreneurs to draw in and keep clients to grow and sustain small businesses.
The internet age has brought consumers and business professionals closer together, fostering a community of interest.
In light of the aforementioned, entrepreneurs are utilising social media platforms to advertise their brands.
Social media, according to Abubakar et al.
, .
, is content that is shared via social According to Adegboye and Aghodaro .
, social media is a group of web applications that support the tenets and philosophy of Web 2.
0 and encourage the creation and sharing of ideas.
According to Gbandi and Iyamu, .
, social media can also refer to the ideas, attitudes, and actions of people who communicate online and exchange information that supports their ideologies.
Bakri, .
found that social media use improves products and services, particularly customer service and client connections.
It also affects SMEs' competitive Ibrahim .
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28-40 Ihechu et al.
, .
found that social media platforms including YouTube.
Instagram.
Snapchat, and Twitter are helpful for public relations.
The researcher also found that these platforms have an impact on SMEs in Kuwait.
Small and Medium Enterprises SMEs are a true resource for the growth and development of the economy.
They are crucial to promoting prosperity since they provide new jobs and advance the economic development of an area (Tajvidi & Karami, 2021.
Maksimov et al.
, 2.
Because of their importance, governments in both developed and developing nations see small businesses as a means of creating wealth, fostering innovation, and creating jobs (Bahl & Kesharwani, 2.
The development of products and services depends heavily on small enterprises.
It creates jobs more cheaply, particularly in the rapidly growing service sector.
In developing countries.
SMEs account for almost 50% of all employment (Lorenz & Pommet, 2.
SMEs have demonstrated their ability to reduce poverty in addition to creating jobs, especially in emerging nations like Nigeria.
SMEs play a major role in the growth of any economy (Eze et al.
, 2.
Small and medium-sized enterprises remain a major driver of Nigeria's economic growth (Etuk et al.
, 2.
Except for Nigeria, they account for 60Ae70% of all employment opportunities worldwide each year (Appel et al.
, 2.
Mohammed and Hussaini, 2.
defined small enterprises as those that employ between ten and forty-nine people and have total assets .
ot including land and building.
of more than five million naira but not more than fifty million Conversely, medium-sized enterprises are those that employ between fifty and ninetynine people and have total assets .
ot including land and building.
of more than fifty million but not more than fifty hundred million naira.
The contributions provided by SMEs have had a significant positive impact on the social and economic development of emerging countries.
Small enterprises can efficiently reduce resource consumption and migration from rural to urban areas by processing local raw materials without the requirement for advanced technologies (Kakumbi & Phiri, 2.
In addition to providing the government with revenue in the form of various taxes.
SMEs mobilise and utilise domestic savings, which reduces production costs and increases industry efficiency (Ajakaiye et al.
, 2.
It is commonly believed that small businesses are accelerating the achievement of broad socioeconomic objectives, including poverty alleviation, job creation, and wealth development.
In addition to providing a platform for the training of indigenous entrepreneurs.
SMEs are essential in reducing poverty and inequality among the populace since they employ both skilled and unskilled workers, providing a means of subsistence for those who labour.
Gbandi & Iyamu, .
assert that the secret to any small- or medium-sized business's success is Small businesses are essential to both developed and developing economies because they increase competition and innovation, improve living standards for the general public, and make a substantial contribution to capital formation.
The government has implemented many stand-alone initiatives to support small business growth and development.
Roles of Small and Medium Enterprises in Economic Development The significance of SMEs has been acknowledged by Nigeria and other developing countries.
As per the findings of Abubakar et al.
, .
, and Bahl and Kesharwani, .
, small and medium-sized enterprises have contributed to the economic development of Nigeria using the Building Capacity: Native business owners who drive the process of wealth creation at all sizes can receive education from SMEs.
The origins of entrepreneurship can be traced back to small businesses, where aspiring business owners create, develop, and introduce new projects that would employ willing labourers.
Thus, ambitious business owners that are enthusiastic about their organisation are enabled by SMEs through capacity building.
Ibrahim .
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28-40 Creation of jobs: SMEs can create jobs because of their labor-intensive operations.
Laborintensive implies that they are far busier than large corporations with well-established organisational structures.
It has been shown that SMEs generate more jobs globally than huge enterprises for every unit of investment capital and energy.
Consequently, small businesses have aided numerous nations in resolving their unemployment problems.
Economic Growth: In a similar vein.
SMEs by definition support the production of goods from the procurement of raw materials to the finished product.
This is why tiny businesses can be found almost everywhere in most countries.
Unlike the large corporations prevalent in urban areas, small enterprises can be found where farmers deliver their produce directly to them.
Industrial Dispersal: Because of their adaptability and people-friendly nature, small and medium-sized firms (SME.
are well-suited for rural regions.
Because small businesses are locally owned and operated, their employees choose to stay in that area.
To assist in providing services to the clients, some even went so far as to recruit the support of their spouses or friends.
Links going both ways: Large organisations employ semi-processed commodities produced by small enterprises in their entirety.
They create industrial bridges in this way that help local raw material suppliers as well as large industries.
Industrial and technological development:
SMEs have a lot of potential for a quick payback on investment and a brief life.
They also provide hopeful alternatives for countries looking for fast cures for industrial development.
Most of the time, the technology in use makes this possible.
Technological Acquisition: Small enterprises have greater opportunities for the transfer of technology and the development of local expertise through adaptation.
Nigeria, for instance, has used the phrase "manufactured in Ababa goods" to bolster its efforts to acquire and incubate technology that adds value to locally produced goods rather than those that are imported.
Reducing poverty: SMEs play a critical role in lowering social inequality as well as poverty.
Furthermore, small enterprises provide more opportunities for the community to generate revenue by hiring both skilled and unskilled individuals.
Creation of wealth: SMEs strengthen the economies of the countries in which they do Because SMEs create jobs and wealth for their owners, they give individuals a sense of empowerment.
Workers at small and medium-sized enterprises (SME.
receive payment for the services they render to customers, which enables them to become independent and supports them in pursuing other demands that will improve their standard of life.
Promotion of local entrepreneurship and technological innovation: Supporting rural industry is one of the primary ways small and medium-sized businesses contribute to economic development.
SMEs are the backbone of any growing economy because they promote the social and economic development of rural communities.
Distribution of income: SMEs generate income for the people and the nation as a whole because of their many economic benefits.
This is achieved by assisting individuals in locating paid employment that will bring in money for the government.
Small enterprises not only assist the government raise money, but they also contribute to better income distribution and an increase in the standard of living for all workers.
Export Promotion: The backing of large corporations facilitates export promotion.
Because of this, contemporary SMEs rely on one another to survive.
They supply the raw resources required by large corporations, which they subsequently export to other entities.
However, increased demand for raw materials makes it possible for businesses to produce goods on a big scale, which in turn drives down prices to entice customers to make purchases.
Ibrahim .
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28-40 SMEsAo Benefits of Using Social Networking Sites Social networking sites helps SMEs achieve their objectives and boost sales, profitability, and productivity, among other benefits (Palla & Sheikh, 2.
Several studies (Kazungu et al.
Soelaiman & Ekawati, 2022.
Veseli-Kurtishi, 2.
have demonstrated the use of social networking sites in marketing strategies intended to support the achievement of organisational To operate a potent new information and sales channel with enhanced geographic reach to inform and promote their businesses and products.
SMEs can establish a company media group where they list their products and services, history, business philosophy, job opportunities, and other information of interest to current and potential customers (Tajvidi & Karami, 2.
More people from all over the world can place orders and learn more about the SMEs can use social networking sites to obtain more thorough and specific information about markets, customers, and possibilities.
It can also do fresh marketing research through social media.
These will facilitate the process of developing the best plans and making the appropriate decisions for the growth of the company (Bakri, 2.
By collecting feedback from customers via social media, including questions, concerns, and compliments.
SMEs can improve customer loyalty and learn more about their clients (Vinerean et al.
, 2.
SMEs can use social networking sites to communicate with their clientele.
Social media is a vital tool in this era of always-connected consumers for interacting with clients and building personal When a brand provides consistently good service, engaged clients frequently become strong social networking sites brand advocates and boost their purchasing (Abubakar et al.
, 2.
Theoretical Review The study employed the Technology Adoption Model (TAM) theory, which deals with the degree of acceptance and diffusion of new technologies at the individual level and aims to better understand computer-use behaviour.
Technology Adoption Model (TAM) The technologies adoption Model (TAM) was created to examine the degrees of adoption and dissemination of new technologies at the personal level as well as to better understand computer usage behaviour.
The term "TAM" describes how a user reacts to a novel technology.
TAM
indicates that various factors may have an impact on a user's adoption and use of technology (Davis et al.
, 1.
Kim and Chae, .
found that perceived utility (PU) had a positive link with the adoption of new technology during their examination of the relationship between perceived utility and technology utilization.
The use of smartphones was found to be positively associated with perceived utility PU (Kim & Chae, 2.
Perceived usefulness (PU) is a belief in the effectiveness, reliability, risk, and performance of a technology.
Security, privacy, and perceived usefulness are all factors that are taken into account by perceived usefulness.
This illustrates that if a technological breakthrough is more user-friendly, people will be motivated to employ it (Basri, 2.
It is believed that a person's perceptions of how practical and easy internet buying technology is can affect their thoughts about it.
As a result, there is a behavioural need to utilise the technology, which leads to the actual use of the online shopping platform to complete a transaction of some kind.
In other words, the user would think about how they could use online purchasing sites to save time and effort.
Consequently, the individual begins to consider that utilizing these online shopping platforms could improve performance, prompting the formation of a reason for using the system before actual use.
Ibrahim .
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28-40 Empirical Review Alenazi and Alanazi, 2.
study examined the influence of social media on the expansion of small and medium-sized businesses in the southeast region of Nigeria.
It was determined that small business owners are using social media sites like Instagram.
WhatsApp, and Facebook to run and expand their enterprises.
Two hundred and twenty small and medium-sized businesses that operate in the South Eastern region of Nigeria were polled as part of the crosectional survey used in the study.
Using the formulas used Sample size of 140.
To examine the hypotheses, multiple linear regression was employed.
The research indicates that the utilisation of social media significantly contributes to the expansion of small and medium-sized businesses in South East Nigeria.
The survey also found that, as indicated by the use of Facebook.
Instagram, and WhatsApp, social media usage in Nigeria fosters the expansion of small and medium-sized businesses.
Adejuwon, .
examined how social media marketing affected the retention of customers.
The sample size consisted of 489 individuals.
According to the study, social media marketing has a significant effect on small and medium-sized enterprises' ability to retain consumers in Southwest Nigeria.
Bahl and Kesharwani, .
study examined social media platforms and their impact on Nigerian small and medium-sized enterprises' financial performance.
566 respondents' replies were analysed using Chi-square and Analysis of variance (ANOVA) in this study.
Based on the results of the poll, social media has significantly helped small and medium-sized enterprises (SME.
in Nigeria grow in terms of customer engagement and retention while also making it simpler to advertise products and services.
Soelaiman and Ekawati, .
determined what factors motivate business owners to use social media in their operations.
The study also examined the potential advantages and disadvantages of adopting social media for business.
In terms of product promotion, marketing expense reduction, enhancing customer relations, growing market share, and gathering data for product development, social media was shown to be especially beneficial for business owners.
Alenazi and Alanazi, .
looked into the factors that influence consumer loyalty to ascertain how they affect social customer loyalty.
352 questionnaires given to Saudi bank social media users provided primary data for the study.
The results show that banks need to leverage social media applications to increase customer loyalty by focusing more on the factors that influence it, in addition to using them to promote their brands and raise brand awareness.
Kakumbi and Phiri, .
investigated the influence of social media use on the growth of the SMEs fashion industry in Kenya.
A structured questionnaire was utilized to collect data from 394 SME owners and operators in the fashion business.
Structural equation modeling was used for multivariate analysis.
Findings from the study revealed that the use of social networking sites had a substantial influence on the development of small businesses.
Methods The research design employed for the study was a descriptive survey.
To collect primary data, a structured questionnaire was used to elicit information from the respondents.
The participants in the study were SME owners and managers located in the city of Ibadan.
The study used a sample size of 385 individuals, who were selected based on the Cochran .
formula, and the purposive sampling approach was used to ensure that the appropriate individuals were included in the research.
Descriptive statistics like frequency tables and percentages were used to evaluate the demographic data, while multinomial regression was used to test the hypothesis.
A social science statistical tool called SPSS version 26 was used to analyse the data.
Ibrahim .
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28-40 Results Demographic characteristic of Respondents The study collected demographic information from respondents.
The response rate was 98.
which is a good rate to work with as regards the analysis.
The result is presented in Table 1 Table 1.
Socio- Demographic Profile of Respondents Characteristics Gender
Frequency Percentage (%) Male
Female Age
Below 30
31- 40
Others Education SSCE
OND/NCE
HND/B.
Sc.
sc/MBA Marital Status Single Married Divorced Others Most effective social Networking site to your Facebook WhatsApp Twitter Instagram Others Yes How does social networking sites majorly improve your business performance? Have Social Networking sites improve your business? Helps reduce operational cost Ibrahim .
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28-40 Increase the innovative way of the business.
Increase public awareness and Increase How long have you been in the 0-5 years 6-10years Above 10 years Total Source: Field Survey, 2023.
This result revealed that 48.
0% of respondents are male while 52.
0% of respondents are female which implies that there is no gender discrimination in the way of running small and medium The age distribution of respondents indicates that 53.
3% are below 30 years, 28.
are within the age of 31-40 and 18.
2% are above the age of 40 years.
This implies that the majority of the SME owners and managers are youth and are fully aware of and engage in the use of social networking sites to promote their business.
The educational status shows that 2% are SSCE holders, 45.
0% hold Diploma/NCE, 11.
1% are B.
Sc.
/HND holders, 11.
hold M.
Sc.
/MBA holders, while the remaining 7.
1% hold other certificates.
This suggests that the respondents are intelligent and capable of doing independent analysis and interpretation of the discussed subject with little or no assistance from the researcher.
Furthermore, the result shows that 29.
3% of respondents are single, 63.
6% are married, 5.
5% are divorced while 1.
fall into other categories such as widow which implies that usage of social networking sites is not restricted by marital status.
While analyzing the effectiveness of the social networking sites, 26.
9% of respondents agreed that Facebook is the most effective, 31.
9% agreed that WhatsApp is the most effective, 15.
agreed that Twitter is the most effective, 23.
2% agreed that Instagram is the most effective while the remaining 2.
6% agreed that others such as telegram.
YouTube and blogging site are This implies that the most effective social networking sites that help SMEs performance are WhatsApp.
Facebook.
Twitter and Telegram.
100% of respondents agreed that social networking sites helps to improve their business.
In terms of reduction of operational cost, 20.
6% of respondents agreed that social networking site helps reduce operational expenses, 23.
5% of respondent agreed that social networking site enhance innovativeness in their business, 17.
9% agreed that social networking sites increase public awareness and support.
3% of respondents said social networking sites helps increase profitability and productivity.
This implies that social networking sites enhances the performance of SMEs.
Also, the result revealed that 25.
9% of respondents had been in the business between 0-5years, 46.
3tween 6-10 years while 27.
7% have been in the business for over 10years.
This implies that respondents are well experience in the area of business to decide whether social networking sites are more effective than traditional methods.
Test of Hypothesis H01: There is no significant relationship between social networking sites and performance of SMEs.
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28-40 Table 2: Model Fitting Information Model Fitting Criteria Likelihood Ratio Tests Log Model Likelihood Chi-Square Df Sig.
Intercept Only 758.
Final SPSS 26 output, .
The findings of the analysis revealed that the model is strongly fitted and statistically significant (P < 0.
at the 1 percent level.
Given the substantial influence of social networking marketing sites on the performance of small and medium enterprises (SME.
, the null hypothesis (H .
was rejected, and the alternative hypothesis was upheld.
Consequently, the study concludes that social networking sites .
uch as Facebook.
Instagram.
Twitter.
WhatsAp.
have a significant influence on SME performance.
Table 3: Pseudo R-Square Cox and Snell Nagelkerke McFadden Source: SPSS 26 output, .
The OLS regression uses pseudo R-square values as rough approximations.
The regression model's pseudo R-square is the proportion of variance explained by independent variables on dependent variables.
Taking the Cox and Snell.
Nagelkerke value into account, it shows that 2% of variance of SMEs performance is explained by the independent variable, social networking sites.
Table 4 Likelihood Ratio Tests Model Fitting Criteria Likelihood Ratio Tests Log Effect Likelihood of Reduced Model Chi-Square df Sig.
Intercept 68.
BL6
Source: SPSS 26 output .
We interpret a significance value less than 0.
05, or P < 0.
05, as suggesting that the assumption is satisfied.
on the other hand, a significant answer .
value more than 0.
suggests that the assumption is not satisfied.
From that result as presented in Table 4 above, we can conclude that social networking sites satisfy the likelihood ratio test assumption.
Discussion The research findings indicated that social networking sites have a positive significant influence on the performance of small and medium enterprises, which is consistent with (Adejuwon, 2.
findings that small-scale businesses' adoption of social media marketing has a significant influence on business performance.
It was also discovered that the use of social networking sites is changing the way small and medium-sized businesses are run.
According to the researchers' survey, increased use of social networking sites such as WhatsApp.
Twitter.
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28-40 Facebook, and Instagram, which are the most effective social networking technologies, is beneficial to the performance of SMEs.
Conclusion The research looked into the impact of social networking sites on the success of small and medium-sized businesses and found that social networking sites had a considerable impact on SMEs' performance in Oyo State.
The social networking sites considered include.
Twitter.
WhatsApp.
Facebook, and Instagram.
Based on these findings, it was concluded that social networking sites are one of the most important drivers of SMEs' performance in this digital era.
It affects both the attitudinal and behavioural components of consumer patronage of SMEs.
Therefore, when the social networking site is used effectively and efficiently, the satisfied small business experience increases the satisfaction of the customers who become loyal customers.
It becomes imperative therefore to pay close attention to social networking sites for sustainable business performance Limitations One limitation of the study is in terms of scope and geographical coverage as it was limited only to a major city (Ibada.
in Oyo state.
Nigeria.
Also, the analytical method used may not adequately capture the full complexity of the relationship between social networking site usage and SME performance.
Other variables and potential confounding factors, such as market conditions, industry-specific challenges, or external economic factors, could influence SME performance but may not be adequately addressed or controlled for in the analysis.
Therefore, while the study's findings may provide valuable insights, future research could expand the scope of coverage to enhance generalization and also employ other advanced statistical techniques to account for potential confounders and biases References