Unraveling the Nexus of Collective Collaboration and Networking in SMEs: Analysing Collective Action for Wealth Creation in Nigeria

Small and Medium Enterprises (SMEs) are pivotal to economic development, particularly in developing countries like Nigeria. This study explores the relationship between collective collaboration, networking, and wealth creation within Nigerian SMEs. Using a quantitative research design, data were collected from 300 SMEs across various sectors in Nigeria. The study employed structured questionnaires to gather data on collective collaboration, networking activities, and wealth creation metrics. Data analysis was conducted using descriptive statistics, correlation analysis, and multiple regression analysis. The findings reveal a significant positive relationship between collective collaboration, networking, and wealth creation in SMEs. The study concludes that fostering collective action and robust networking can enhance wealth creation in Nigerian SMEs, thereby contributing to economic growth and development.