نوآوری محصولات جدید در بخش شرکت های کوچک و متوسط
Abstract
Introduction
Literature review
Methodology
The variables
The empirical model
Conclusions
References
Abstract
The paper analyzes the determinants of new products innovation in the SMEs sector. The study focused on types of innovation funding and sources of innovation funding. Five-hundred and fifty (550) SME owners were randomly selected for the study. Information was sourced through the use of questionnaires. Tobit model was used for the analysis. Sales value of new products was used a proxy for new products innovation. The determinants were grouped into two types thus innovation expenditure and sources of innovation expenditure. Sources of innovation expenditure have significant influence on new products innovation. From the finding foreign capital, government tax credit, and subsidies had significantly influence on new products innovation. SMEs specific attributes such as patent and having overseas partners influence new product innovation. Policies and programs geared towards government tax credit, subsidies, patent rights and inflow of foreign capital into SME sector should be encouraged since they have the potential of promoting product innovation in the sector.
Introduction
SMEs play a focal role in the economic development of countries especially in the emerging economies. As a result, governments have formulated policies and programs that are geared towards small and medium-scale enterprises (SME). However, this agenda is not without its own challenges. Studies on the difficulties small and medium-scale (SME) enterprise owners face are pointing to a general decry by SMEs on the lack of access to finance and the cost involved in obtaining such funds when they are available (Abor and Quartey, 2010). There have been calls from various stakeholders on the government to direct more funds to the SMEs sector to make it more attractive and competitive in the global market. The growth in the SMEs sector will help in transforming lives at the households and macroeconomic levels. The very nature of SMEs makes their operation so challenging since they are unable to access finance for their activities. Most SMEs owners are not able to provide collaterals required in granting of formal banking sector loans (Agbola and Ankrah, 2013). To help SMEs survive, governments often offer subsidies and tax credit to promote the growth of SMEs (Zhu et al., 2012).