CHALLENGES AND PROSPECTS OF TECHNOLOGY ADOPTION BY SMALL AND MEDIUM ENTERPRISES IN RIVERS STATE, NIGERIA

Abstract

This study investigates the challenges and opportunities of technology adoption among small and medium enterprises (SMEs) in Rivers State, Nigeria. Given the crucial role SMEs play in economic development and job creation, understanding their capacity to integrate innovative technologies is essential for enhancing competitiveness and fostering growth. Through a qualitative methodology, including a conceptual review and analysis of relevant case studies, this research explores the current state of technology adoption, identifying key barriers such as financial constraints, inadequate infrastructure, and limited digital skills. The findings reveal that while some SMEs have begun to embrace basic digital tools, the overall integration of advanced technologies remains limited. Additionally, the study highlights the role of supportive government policies and the need for targeted interventions to facilitate technology adoption. Key recommendations include promoting low-cost technology solutions, investing in employee training, and fostering partnerships with technology providers to enhance accessibility and support. Furthermore, the research emphasizes the importance of government incentives, such as tax relief and infrastructure improvements, to create a conducive environment for SMEs. This study contributes to the existing body of knowledge by providing insights into the specific challenges faced by SMEs in Rivers State, along with actionable recommendations for overcoming these barriers. By leveraging technology, SMEs can improve operational efficiency, expand market access, and ultimately drive economic growth in the region. The findings underscore the need for a collaborative approach involving SMEs, government, and technology firms to effectively harness the potential of technological innovation in enhancing the entrepreneurial landscape of Rivers State