Impact of FinTech on the growth of small and medium scale enterprises in Nigeria
Ajayi, Olaniyi Stephen (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023052514291
https://urn.fi/URN:NBN:fi:amk-2023052514291
Tiivistelmä
The popularity of Fintech in recent years has helped SMEs in so many ways. SMEs use this Fintech to process payments and access loans. Some of this fintech give SMEs some tools to grow their business. SMEs are the source of employment generation in an economy especially in Nigeria. Nigeria’s government generate taxes from SMEs. SMEs have been facing different challenges, some of which are the inability to access loans from traditional banks.
The thesis checks the impact of Fintech on the growth of small and medium-scale enterprises. The objective of the thesis is to highlight the impact of FinTech on the financial accessibility of Small and Medium Scale Enterprises in Nigeria, to examine the role of FinTech on international trade and earning of foreign exchange by SMEs in Nigeria and to identify the challenges confronting Small and Medium Scale Enterprises in Nigeria in adopting FinTech solutions. This is to know if the impact is a positive or negative one. Both primary and secondary data are used in the thesis. The thesis analyses the data received from respondents.
The findings in the thesis show that Fintech has a positive impact on the growth of SMEs and most SMEs in Nigeria increases their sales and revenue by using Fintech solution. It also shows Nigerian government need to create a policy to encourage SMEs to adopt Fintech and gives SMEs the training needed to use this Fintech solution.
The thesis checks the impact of Fintech on the growth of small and medium-scale enterprises. The objective of the thesis is to highlight the impact of FinTech on the financial accessibility of Small and Medium Scale Enterprises in Nigeria, to examine the role of FinTech on international trade and earning of foreign exchange by SMEs in Nigeria and to identify the challenges confronting Small and Medium Scale Enterprises in Nigeria in adopting FinTech solutions. This is to know if the impact is a positive or negative one. Both primary and secondary data are used in the thesis. The thesis analyses the data received from respondents.
The findings in the thesis show that Fintech has a positive impact on the growth of SMEs and most SMEs in Nigeria increases their sales and revenue by using Fintech solution. It also shows Nigerian government need to create a policy to encourage SMEs to adopt Fintech and gives SMEs the training needed to use this Fintech solution.