Exploring the Benefits of Technology Adoption on Business Performance among Unregistered SMEs: Insights from Nigeria

Abstract

This study in its capacity explore the significance of technology adoption among unregistered small or micro businesses in the informal economy. To achieve this objective, initial observations were carried out by researchers over a time period on unregistered business owners operating in an informal economy. The study adopts an interview data collection method. The findings reveal that initially, these business owners had no intention of adopting technology into their business model. However, they did. Given this, the adopted technology (simple mobile phones) gave them some unprecedented opportunities over others in terms of work flexibility and expanded customer networks via referral. Unintentionally, the interview findings also reveal that with the simple technology adopted by this informal and unregistered businesses, customers were able to make business transactions from their comfort zone and enhance their individual security consciousness.