Effects of strategic orientations, access to finance and export knowledge on export performance of SMEs in Nigeria

Despite the growing research on the effects of strategic orientation on small and medium enterprises (SMEs) export performance, understanding the role of entrepreneurial orientation, market orientation, learning orientation, and export orientation in a single framework as determinants of SME export performance remains scarce. Relatedly, the mediation role of access to finance has a strong appeal, which requires empirical backing. Similarly, the moderating effect of export knowledge on the link between the relationships mentioned above is not clear yet. Furthermore, recent literature has identified limited studies on the impact of strategic orientations on SME export performance in developing countries like Nigeria. Nigeria has many small businesses; approximately 96.9 percent are micro-enterprises, while small and medium enterprises account for 3.1 percent. However, their underwhelming performance is reflected in their 6.21 percent contribution to gross domestic product (GDP), which is relatively low compared to other developing countries where the contribution is significant. Consequently, the study draws on the dynamic capability view and pecking order theory and develops a framework to analyze the strategic orientations influence, the mediating effect of access to finance, and the moderating role of export knowledge on the export performance of small and medium enterprises in Nigeria. The study employed a sample of 278 exporting SMEs in Nigeria gathered using questionnaires, and Smart PLS software version 3.2.9 was applied during data estimation. The study found a positive and significant relationship between entrepreneurial, market, learning, and export orientations and ’SMEs’ export performance. Additionally, it was established that access to finance mediates the paths between entrepreneurial, market, and export orientations and the export performance of SMEs. In contrast, no mediation effect was found between learning orientation and ’SMEs’ export performance. Moreover, export knowledge moderates the link between entrepreneurial and learning orientations. Nevertheless, no moderation effect was discovered between market orientation, export orientation, and ’SMEs’ export performance. The findings provide crucial insights for owners/managers, policymakers, and scholars. Therefore, the study contributes empirically and theoretically by broadening the literature on the internationalization of SMEs and strategic orientations that have yet to be explored. Further research was suggested in light of the outcomes and limitations revealed in this study.

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