Fuoye Journal Of Management Innovation And Entrepreneurship -

Theoretically, this paper extends Dynamic Capabilities Theory by showing that sensing (digital tools) requires seizing (BMI) to achieve transforming (resilience). Practically, the finding challenges the "technology-first" narrative common in Nigerian policy circles. Conclusion: Digital transformation is a necessary but insufficient condition for entrepreneurial resilience among Nigerian SMEs. Business model innovation is the engine that converts digital investments into adaptive capacity.

Table 1: Descriptive Statistics and Correlations | Variable | Mean | SD | 1 | 2 | 3 | | :--- | :--- | :--- | :--- | :--- | :--- | | 1. Digital Transformation | 3.12 | 0.94 | 1 | | | | 2. Business Model Innovation | 2.87 | 0.88 | .621** | 1 | | | 3. Entrepreneurial Resilience | 3.34 | 0.91 | .584** | .703** | 1 | **. Correlation is significant at the 0.01 level (2-tailed). fuoye journal of management innovation and entrepreneurship

The missing link appears to be . Many Nigerian SMEs adopt digital tools (e.g., POS machines, social media ads) without changing how they create, deliver, and capture value. This study, therefore, asks: Does business model innovation mediate the relationship between digital transformation and entrepreneurial resilience in Nigerian SMEs? By answering this, the paper contributes to the nascent entrepreneurship literature specific to Ekiti State and the FUOYE academic community. 3. Literature Review and Hypotheses 2.1 Entrepreneurial Resilience Resilience is not merely a personality trait but a dynamic capability. For entrepreneurs, it includes proactive adaptation, resource reconfiguration, and opportunity creation during crises (Duchek, 2020). Business model innovation is the engine that converts

BMI refers to a novel change in at least two of the following components: value proposition, value creation, and value capture (Teece, 2010). A digitally resilient SME is one that uses cloud accounting to shift from cash-based to credit-based revenue (BMI) rather than simply buying an accounting software (DT alone). Business Model Innovation | 2

Recent disruptions, from the COVID-19 pandemic to the current foreign exchange volatility, have underscored the need for entrepreneurial resilience : the capacity to anticipate, adapt to, and recover from adversity (Burnard & Bhamra, 2011). While digital transformation (DT)—the integration of digital technologies into all areas of a business—has been proposed as a solution, evidence suggests that mere technology acquisition does not guarantee survival (Verhoef et al., 2021).