Leveraging Disruptive Technology on Profitability of Small Businesses in Industry 5.0

Abstract

Despite the contributions of the manufacturing small businesses, the performance in industry 5.0 in developing and emerging economies is slow and, in some cases, is likely to decline due to challenges such as technology adoption. Therefore, this chapter investigates the effect of disruptive technology (DT) on the profitability of manufacturing small businesses in Industry 5.0 focusing specifically on Nigeria, the largest consumer industry in Africa. This study adopted a survey research design. A simple random sampling technique with proportionate allocation was used to select the respondents. Findings revealed that disruptive technology had significant effect on profitability in Nigeria. The chapter concludes that disruptive technology can enhance the profitability of manufacturing small businesses in Industry 5.0 particularly in emerging economies. It is recommended that to improve profitability in small businesses, adoption of disruptive technology and artificial intelligence should be considered to enhance daily operations, product efficiency, and business profitability.