Abstract
The popularity of social media has exploded in decade ago, and during this pandemic situation, the need and the role of social media plays a massive role. The current study intended to produce empirical evidence on the relationship and the effect between social media usage and business performance in the context of Small and Medium Enterprises in Batticaloa. Mainly the research aims to reveal the influence of customer relationship management, market access, and information on the advancement of SMEs. The study utilized a descriptive survey methodology, with 250 respondents. The data were analyzed using descriptive, univariate, and bivariate analysis. The study revealed that social media has a strong positive impact on the business performance of SMEs. This study postulated an awareness of the significance of social media and its benefits. The results would motivate and guide SMEs in the espousal of social media as a tool for business activities.
Highlights
Small and medium-sized businesses (SMEs) are considered the backbone of the economy
The results show that 2.8 percent of SME owners were under the age of 20, 21.1 percent of SME owners were between the ages of 21 and 30, 20.4 percent of SME owners were between the ages of 31 and 40 years, and 4.8 percent of SME owners were between the ages of 51 and 60 years and 2 percent of SME owners were above 60 years
This study found that the existing level of social media usage in Small and Medium Scale Marketers in Batticaloa and its dimensions, using social media for marketing, using social media for customer relations, and using social media for information accessibility
Summary
According to a study performed by Sri Lanka's Ministry of Industry and Commerce (2017), SMEs account for 45 percent of employment and 75 percent of all enterprises in the country's economy. According to the Ministry of Industry and Commerce, Sri Lanka has about 500,000 SMEs, each employing three to five people on average. This sector accounts for about 52 percent of GDP when combined with other unregistered microenterprises and SMEs. SMEs make a significant contribution to the economic health of a country. SME's play a significant role in many nations across the world This is due to their role in producing jobs and promoting regional growth and innovation, all of which benefit the country's economy (Shemi, Alice & Chris Procter, 2018).
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