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ABSTRACT
This project titled “The Impact of Technology in Small and Medium Scale Enterprises in Nigeria” observed a problem that many small and medium scale enterprises (SMEs) in Nigeria are occasionally faced with challenges that makes them to adjust or change. Small and medium scale enterprises (SMEs) have to go through change processes when having to respond to new development as a result of the constant change in the dynamic business environment. It therefore fulfilled the objective of identifying the impact of technology on small and medium scale enterprises (SMEs), determining ways of increasing the utilisation of technology in small and medium scale enterprises (SMEs), and recommending solutions to technological problems with SMEs. It adopted the survey design and the research instrument used was the questionnaire. Regression analysis was used to test for hypothesis and draw conclusions. The study found out that technology helps achieve competitive advantage in the industry; the use of technology helps to deliver quality satisfaction to customers; and the use of technology helps to attain differentiation of product and services between rivalry firms. It also found out that technology in an enterprise can be measured with its level of profitability; the growth rate of the enterprise can be used to measure the impact of technology; the efficient and effective productivity can be used to measure the impact of technology. Results from the regression test revealed that there is an impact of technology on small and medium scale enterprises; there are ways to measure the impact of technology and there are ways of increasing the utilization of technology in small and medium scale enterprises. Hence, the null hypotheses were rejected given the significance value was lesser than the P value of 0.005. This study concluded there is a positive impact of technology on the activities of small and medium scale enterprises in Nigeria which includes competitive advantage, product/service differentiation, increase in profitability and productivity. Hence, the factors affecting small and medium scale enterprises in regards the utlisation of technology should be controlled to the bearest minimum to increase the utilization of technology in small and medium scale enterprises in Nigeria.
It therefore recommended that subsidized price of modern facilities and technology should be made available to owners of smes; business owners should be educated periodically on the necessary skills required to manage the enterprise; the activities of various schemes and institutions established to promote small and medium scale enterprises should be monitored from time to time.
