Exploring the Role of Business Model Innovation in Driving Entrepreneurial Success: Evidence from Sub-Saharan Africa

Abstract

This study examined the role of business model innovation in driving entrepreneurial success in Sub-Saharan Africa. The specific objective was to assess the effect of value proposition innovation and process innovation on entrepreneurial success. A survey research design was employed, involving 200 small business operators drawn from Nigeria, Ghana, Kenya, and South Africa. Data were collected through structured questionnaires administered via Google Forms, using a five-point Likert scale to measure key variables. The research questions were analyzed using frequency distribution, while hypotheses were tested through multiple regression analysis to determine the nexus between business model innovation and entrepreneurial success. Findings revealed that: value proposition innovation positively affects entrepreneurial success (β = 0.364; p = 0.000); process innovation positively affects entrepreneurial success (β = 0.471; p = 0.000). In conclusion, innovative business models play a crucial role in improving the performance and sustainability of small ventures in Sub-Saharan Africa. It was recommended that small business owners in Sub-Saharan Africa should focus on continuously improving the value they offer to customers by understanding changing consumer needs and trends. By investing in unique products and services that set them apart from competitors, entrepreneurs can build stronger customer loyalty and increase long-term profitability.