EKSU Journal of the Management Scientists

Effects of Brand Trust on Micro, Small and Medium Scale Enterprises’ Performance in Akure Metropolis

Abstract

The study examined effects of brand trust on micro small and medium scale enterprises performance in Akure metropolis. Specifically, the study investigated the effect of brand feelings, brand reliance and brand security on micro small and medium scale enterprise performance in Akure metropolis. A descriptive survey research design was adopted for the study. The population of the study comprised owners of micro, small and medium scale enterprises in Akure metropolis. The sample size was 204. Primary data used for the study were gathered through administration of structured questionnaire. Data gathered were analysed using multiple regression. The study found that brand feelings have significant effect on micro, small and medium scale enterprise performance (t=21.878, p=0.000 >0.05); Furthermore, the study found that brand reliance has significant effect on micro, small and medium scale enterprise performance (t=23.247, p=0.000 >0.05); finally, the study found that brand security has significant effect on micro, small and medium scale enterprise performance (t=20.818, p=0.000 >0.05). The study concluded that brand trust constructs is significantly and positively related to micro, small and medium scale enterprise performance in Akure metropolis. The study recommended that micro, small and medium scale enterprises owners should focus on creating trust, reliance and security between their consumers and their brands to boost micro small and medium scale enterprises performance.