USE OF TECHNOLOGY AND FINANCIAL LITERACY ON SME PRACTICES AND PERFORMANCE – International Journal of Social Sciences and Management Review

USE OF TECHNOLOGY AND FINANCIAL LITERACY ON SME PRACTICES AND PERFORMANCE

Authors: Dr. Olurotimi Ogunwale, Dr. Isibor Areghan, Dr. Yimka S. A. Alalade & Dr. Tolulope Omosebi

ABSTRACT

SMEs tend to face uncommon barriers in achieving entrepreneurial success especially in emerging economies. This study, conducted a research on the impact of SME financial literacy and use of technology on practice of record keeping in relation to business performance, the ordinary least Regression analysis is used to analyse the influence of these variables on each other. The research conducted shows a significant relationship between the firm’s use of technology to its record keeping practices and performance, and also a positive significant relationship with financial literacy. The study also found a significant relationship between financial literacy and firm book keeping practice; it suggests the dual role of financial literacy and use of technology for improving SMEs financial practices in Nigeria.

Keywords: Technology; Financial Literacy; SME; Financial technology

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