EFFECT OF STRATEGIC PLANNING ON PERFORMANCE OF SELECTED SMALL AND MEDIUM ENTERPRISES IN NASARAWA STATE, NIGERIA

The persistent performance challenges confronting SMEs in Nasarawa State, despite ongoing government enterprise development initiatives, are compounded by the absence of rigorous, construct-level SMEs in the state. On the above problem study examines the effect of strategic planning on the performance of selected Small and Medium Enterprises (SMEs) in Nasarawa State, Nigeria. The study specifically investigates the effects of technological trends and strategy formulation on SME performance. A quantitative, cross-sectional survey research design was adopted, and primary data were collected from 241 valid respondents comprising owners/managers of registered SMEs in Nasarawa State. Partial Least Squares Structural Equation Modelling (PLS-SEM) version 3.5 was employed for data analysis, following a two-stage assessment of the measurement and structural models. The structural model findings revealed technological trends has a positive and significant effect on SME performance. While, strategy formulation exerts a negative and insignificant effect on SME performance. These findings establish technology-responsive strategic planning as the dominant driver of SME performance in Nasarawa State, while revealing that conventional, analytically intensive strategy formulation processes do not generate measurable performance improvements in this context. The study recommends technology-embedded strategic planning, adaptive and lean strategy approaches, and deliberate policy support for SME digital transformation in Nasarawa State