TECHNOLOGY ADOPTION AND COMPETITIVENESS OF SMALL AND MEDIUM SCALE ENTERPRISES IN OBIO AKPOR LOCAL GOVERNMENT AREA OF RIVERS STATE, NIGERIA

Abstract

This study examines the impact of technology adoption on competitiveness of small and medium scale enterprises in Obio Akpor Local Government Area of Rivers State. The indicators of technology adoption adopted include: financial technologies (FinTech), e-commerce platforms and social media platforms. The population of this study consisted of 585 registered small and medium scale enterprises (SMEs) in Obio Akpor Local Government Area of Rivers State. The study sample size consisted of managers of 283 small and medium scale enterprises (SMEs) in Obio Akpor Local Government Area of Rivers State. The sample size was determined by Taro Yamane formula. The study made use of simple random sampling technique to selected the respondents (managers). The study made use of primary data and structured questionnaire as the data collection instrument. Frequencies and simple percentages were used to analyse the demographic data of the respondents and the research questions while simple regression technique was used to test the hypotheses at 5% significant level. The findings of the study showed that financial technologies (FinTech), e-commerce platforms, social media platforms and accounting and bookkeeping software contribute positively and significantly to competitiveness of small and medium scale enterprises in Obio Akpor Local Government Area of Rivers State. Based on the findings, the study concluded that technology adoption has contribute positively and significantly to competitiveness of small and medium scale enterprises in Obio Akpor Local Government Area of Rivers State. The study recommended online stores should partner with FinTech service providers to introduce affordable, user-friendly, and secure digital payment solutions tailored to of small and medium scale enterprises.