Abstract
Small and Medium Enterprises (SMEs) play a crucial role in Nigeria's economic growth, yet they often face significant challenges, including limited access to capital, inadequate infrastructure, and stiff market competition. Strategic partnerships have emerged as a vital mechanism for overcoming these challenges and fostering entrepreneurial growth. This study examines the impact of strategic partnerships on SMEs in Anambra State, Nigeria, focusing on how collaborations enhance business performance, innovation, and market expansion. Drawing from recent empirical studies, findings indicate that SMEs engaging in strategic alliances experience increased access to financial resources, improved technological adoption, and greater competitive advantages. However, challenges such as trust issues, misaligned goals, and cultural differences hinder effective partnerships. The study recommends that SMEs adopt best practices in partner selection, agreement formulation, and communication to maximize partnership benefits. Government interventions supporting strategic alliances can further strengthen SME growth and sustainability in Anambra State.
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