The Concept and Application of ICT on SMEs performance in Nigeria: Limitation and Challenges
DOI:
https://doi.org/10.24191/eaj.v10i1.12368Keywords:
Small and Medium Enterprises, Information Communication Technology, Limitation, ChallengesAbstract
Small and Medium Enterprises (SMEs) play a vital role in growing and building developing nations' national economy. This study investigates a deep understanding of the influence of Information Communication Technology (ICT) on SMEs' performance in Nigeria. The study found out that most SME owners engage in local business practices in nature of the operation, and marketing strategies are limited within the country. Hence, this is a growing concern, the need to broaden the field of doing business through global integration with ICT aid, which would improve the country's economic growth at large. Based on the literature reviewed, this research work helps to identify the underlying causes, limited ICT readiness, its effectiveness and the need for ICT implementation into business processes, and the knowledge of its potential benefit. Therefore, this paper examines the role of ICT in small businesses' performance; this is estimated to enhance firm productivity and increase profitability, improving overall SMEs’ performance. The study recommends that provision be made for more ICT training facilities, and SMEs need to embrace information and communication technology in terms of resources, networks, and consumer skills. Entrepreneurs are to be enlightened and educated on how ICT can be used to boost operating efficiency. The government should create an enabling environment by offering ICT infrastructure that will promote its growth and implementation in SMEs. This study's data relied on secondary data and current research on SMEs worldwide, focusing on Nigeria.
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