ASSESSMENT ON THE INFLUENCE OF TECHNOLOGY

ABSTRACT

The study examines the impact of technology on the growth of micro, small and medium scale businesses (MSMEs) in Edo state. Self-structured questionnaire were used to collect data from the respondents. 104 questionnaire were randomly administered to business owners, co-partner and employees in Benin City, Edo State. The study adopted a descriptive and inferential statistics to analyse the the research question and hypothesis using linear regression. The findings show that technology investment have positive and significant effects on growth of MSMEs and should be encouraged for use in business operation. The following recommendation were put in place: MSMEs in Benin City, should make technology investment as part of their yearly plan and government should also rally behind SMEs seeing as they contribute to half of the country’s GDP so as to reduce the financial burden by creating an environment that promotes innovation and creativity for SMEs. Also, countermeasures should be put in place to tackle the issues of information and communications technology security challenge as failure to effectively tackle this challenge will results in declined organizational performance.