Title: Navigating Transnational Business Dynamics: Challenges and Opportunities for Small and Medium Enterprises (SMEs)
Authors: Sunday Paul Etuh, PhD
Volume: 9
Issue: 3
Pages: 41-48
Publication Date: 2025/03/28
Abstract:
This study examines the challenges and opportunities small and medium enterprises (SMEs) in North Central Nigeria face in navigating transnational business dynamics. As globalization and digital transformation reshape the global economy, SMEs are increasingly engaging in cross-border trade, leveraging digital tools, and participating in global supply chains. However, these opportunities come with significant challenges, including regulatory complexities, infrastructural deficiencies, cultural barriers, and resource constraints. Using a mixed-methods approach, this research combines survey data from 300 SMEs and interviews with 15 SME owners and industry experts. The findings reveal that SMEs in North Central Nigeria struggle with bureaucratic hurdles, poor infrastructure, and limited access to digital technologies, which hinder their global competitiveness. Despite these challenges, SMEs have successfully accessed international markets, particularly for agricultural products, and have leveraged e-commerce platforms and government support programs to enhance their competitiveness. The study identifies key strategies for SMEs to thrive, including adopting digital technologies, building strategic alliances, and cultivating a global mindset. The findings underscore the importance of targeted interventions, such as simplifying regulatory processes, investing in infrastructure, and expanding institutional support, to empower SMEs in the region. A major recommendation from the study is for SMEs to **leverage digital technologies**, such as e-commerce platforms and social media, to overcome traditional barriers to entry and enhance their global market reach. By adopting these tools, SMEs can streamline operations, improve customer engagement, and compete more effectively in international markets.