Global Economic Integration and Entrepreneurial Success of Selected ICT Businesses in Ilorin Metropolis
DOI:
https://doi.org/10.56532/mjbem.v5i1.204Keywords:
Global Economic Integration, Digitalization, Trade Openness, Entrepreneurial SuccessAbstract
Research on global economic integration has garnered attention among scholars, particularly regarding its implications for competitiveness and survival of firms in emerging economies, such as Nigeria. This study investigated global economic integration and entrepreneurial success of selected ICT businesses in Ilorin, Kwara State. The specific objectives were to examine the effect of digitalization on the customer satisfaction of ICT businesses in Ilorin, Kwara State; and to evaluate the effect of trade openness on market share of ICT businesses in Ilorin, Kwara State. The population used for this study is made up of 165 ICT firms registered with the Information Technology Professionals Association (ITPA) in Ilorin, Kwara State. A total of 117 sample was estimated to be appropriate for this study using Raosoft Sample Size Calculator, and out of the 117 copies administered, 114 were properly completed and returned. and selected from the study population using a simple random sampling technique. Data were gathered using a structured questionnaire and analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM). Findings established a strongly positive effect of digitalization on customer satisfaction. It was also revealed that trade openness has a statistically significant positive effect on market share. It was therefore concluded based on the findings that digitalization and trade openness are key drivers of customer satisfaction and market share of ICT firms in the study area. Hence, global economic integration is essential for entrepreneurial success. This study recommended prioritization of investment in digital infrastructure, policy implementation for tariff reduction and streamlined import/export procedures, and adoption of customer-centric practices among ICT firms to improve their success and survival.
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