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Effect of Payment Technology on Entrepreneurial Development: Perspective of Micro-Business Owners in Nigeria

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  • O.O. Akande

Abstract

The speed of transformation in Payment Technology has speeded up with micro businesses realizing the potential of payments Technology in their operational activities. This study aim to explore the effectiveness of Payment Technology on Entrepreneurial Development in Nigeria. The study was carried out with Three hundred (300) Questionnaires administered to Micro Small businesses owners in Mopo Market Ibadan, Oyo State of Nigeria. Two hundred and Sixty (260) Questionnaires were found useful for the purpose of the study. The data collected were analyzed using descriptive and inferential statistical tools. The descriptive statistics used included percentages and tables while ANOVA was used to analyse the study hypothesis. Finding reveal that Payment Technology (PT) has a positive effect on Entrepreneurial Development in Nigeria and the result of tested hypothesis (prob>F =0.0000 ;F-value=367.51)buttress the significance of Payment Technology (PT) on Entrepreneurial business Development. To this end, it is recommended that Entrepreneurs should be educated and informed about the important of Payment Technology and how it could be used to increase operational efficiency, Also Government should provide adequate power supply to reduce operating cost of Payment Technology (PT) in Nigeria.

Suggested Citation

  • O.O. Akande, 2015. "Effect of Payment Technology on Entrepreneurial Development: Perspective of Micro-Business Owners in Nigeria," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 5(4), pages 298-304.
    • Handle: RePEc:rss:jnljms:v5i4p6
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    References listed on IDEAS

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    1. Erik Brynjolfsson & Lorin M. Hitt, 2000. "Beyond Computation: Information Technology, Organizational Transformation and Business Performance," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 23-48, Fall.
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