Product innovation and growth of small scale businesses in Warri South and Uvwie Local Government areas, Delta State

Abstract

This study examined the effect of product innovation on growth of Small Scale Businesses in Warri South and Uvwie Local Government Areas, Delta State. This study encompasses a population of 510 Small Scale Businesses and their owners in the randomly selected areas. The sample size was determined using the Taro Yamane formula which consists of305 Small Scale Business owners selected through simple random sampling. Data collection employed a J5 item questionnaire administered to 305 business owners in Warri South and Uvwie Local Government Areas, Delta State, for a test-retest reliability assessment. The reliability of the instrument was established using Pearson’s product-moment correlation coefficient method, validated through face validation by course lecturer. Data analysis involved the use of percentages and Analysis of Variance (ANOVA). The statistical analysis was carried out via Microsoft Statistical software version 28.0. The study findings unveiled that the new product development has a great effect on growth of Small Scale Business and that product improvement can affect the growth of Small scale business. There is a relationship between cost innovation and growth of small scale business in Warri South and Uvwie Local Government Areas, Delta State. Based on the findings, it was suggested that Small scale business owners should encourage new product ideas by adopting new product development strategies, regularly getting feedback from customers, using their feedbacks to develop and improve their products. This study contributed to knowledge through the provision of empirical proof showing that product innovation development improvement and cost innovation can affect the growth of Small Scale Business in Warri South and Uvwie Local Government Areas, Delta State.