Disruptive technology and Business turnover of selected manufacturing SMEs in Nigeria

This study investigates the impact of disruptive technology on the business turnover of selected manufacturing SMEs in Nigeria, particularly in the context of the Fourth Industrial Revolution (4IR). Utilizing a survey research design, data were collected from 436 owner-managers across Lagos and Ogun States. The findings reveal that dimensions of disruptive technology specifically technology investment, awareness, adaptation, transfer, and accessibility positively influence business turnover, while technology response showed no significant effect. The regression analysis indicated a strong relationship (R = 0.916) between disruptive technology components and business turnover, explaining 83.7% of the variance in turnover. This suggests that SMEs that prioritize technology adoption can enhance their operational efficiency and revenue generation. The study highlights the systemic challenges faced by manufacturing SMEs in Nigeria, including inadequate infrastructure and low technology adoption rates, which hinder competitiveness. Recommendations for policy and practice emphasize the need for improved support systems and investment in technology to foster innovation and growth within the sector. Overall, the research underscores the critical role of disruptive technology in driving economic sustainability and competitiveness among manufacturing SMEs in Nigeria, advocating for strategic initiatives to facilitate technology integration in a rapidly evolving global landscape.