Technology Adoption In Small Business Management
DOI:
https://doi.org/10.69968/ijisem.2024v3i472-79Keywords:
Technology Adoption, Small Business ManagementAbstract
Small enterprises (business) play a significant role in driving economic growth and development. However, their growth is often hindered by slow technology adoption, despite its strong association with improved economic performance. The adoption process is frequently challenged by market failures, financial constraints, and other barriers, making external interventions necessary to facilitate the integration of emerging technologies. A review of existing literature highlights that the primary obstacles for Small enterprises (business) include limited access to financing and a lack of digital literacy among business owners. To address these challenges, a collaborative effort is essential. Policymakers need to create supportive frameworks and funding opportunities, technology providers must offer affordable and accessible solutions, and community leaders should foster awareness and education. Small enterprises (business) owners themselves should actively seek opportunities to enhance their digital skills. Together, these efforts can empower small enterprises (business) to harness technology effectively, driving innovation and ensuring their long-term sustainability.
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