Honing Local Enterprises and Industrial Alliances with the Success of Entrepreneurs: Mediating the Role of Technology Adoption and Market Competition

Abstract

Micro, Small and Medium Enterprises (MSME) promote entrepreneurship and create a significant amount of employment possibilities, which contribute significantly to economic growth. The purpose of the study is to identify the role of local enterprises and industrial alliances toward entrepreneurial success and also to explore the mediating connection of technological adaptation and market competition among them to enhance the performance of Small and Medium Enterprises (SMEs). To determine the effect of the industrial alliance, SME performance, technology adoption, and market competitiveness on entrepreneurial success, the theoretical model would be put to the test. The postulated model would be validated using a variety of quantitative methods. The study has practical relevance for SMEs and business owners in understanding how local SMEs might profit from industrial alliances in addition to the issues of technology adoption and competition in the Indian MSME sector. The MSMEs would benefit from the findings, enabling them to form more effective industrial partnerships.