IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 7 2024
DOI: 10.56201/wjeds.v9.no7.2024.pg21.29

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The Role of Digital Technology in Improving Small and Medium Enterprises (SMES) Growth (A Theoretical Approach)

Nwabuatu, Emmanuel Nnajiubah. Ph.D.

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Abstract

This study explored the role of digital technology in enhancing the growth of Small and Medium Enterprises (SMEs). SMEs are essential for economic development, job creation, and innovation, yet their growth is often hindered by limited access to resources, infrastructure, and technology. With a focus on how digital tools such as e-commerce, social media, and cloud computing can address these challenges, the study employed a descriptive survey research design to collect data from 212 SMEs. Findings revealed that while digital technology adoption was widespread, the extent varied, and several challenges persisted, including financial constraints and inadequate infrastructure. The study found that adoption of digital technologies positively enhancesthe growth of SMEs by improving operational efficiency, market reach, and customer engagement. The recommendations of this study include investing in digital skills training, exploring cost-effective solutions, and leveraging government and NGO support programs to enhance the growth of Small and Medium Enterprises (SMEs)

keywords:

Digital Technology, Small and Medium Enterprises (SMEs), Economic Growth,

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