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Impact of Digitalisation on Small and Medium
Enterprises in Nigeria
ABSTRACT
This study discussed the impact of digitalisation on Small and Medium enterprises in Nigeria. There is a general consensus that the Small and Medium Enterprises is the key to the economic development of every nation and Nigeria is not an exception. In point of fact the digitalisation wave is said not to be transitory but the beginning of a whole new era in general life and business. This paper examined the challenges, need and opportunities of digitalisation of the Small and Medium Enterprises as some of its objectives. The study utilised both the primary and secondary source of data collection and made use of the chi square to test its hypothesis. Findings in the study however showed that digitalisation has a great impact on Small and Medium Enterprises of Nigeria as it automates the product and process as a result of which both quality and production increases. Despite having a high potential for future growth, the Small and Medium Enterprises in Nigeria are said to experience some challenges such as lack of digital strategy trainings, lack of usage of digital technology for business purposes and lack of safe cybersecurity intelligence among others. The basic idea of digitalisation is to make complete use of Information and communication technology facilities for accessing worldwide resources and beneficial for society simultaneously. The Small and Medium Enterprises plays a very significant role in employment of citizens in the economy and this enables the startups take advantage of growth opportunities in the digitalisation process.
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