Impact of Financial Technology Integration in Small and Medium Enterprises (SMEs) Performance in Anambra State, Nigeria

Abstract

This paper determined the impact of financial technology integration in Small and Medium Enterprises (SMEs) Performance in Anambra state, Nigeria. Two reserch questions and two hypotheses guided the study. The study adopted a discriptive survey research design.The population of the study comprised 2688 registered SMEs managers in Anambra state while the sample size was 400 respondents obtained using simple random sampling technique. Structured questionnarie titled Impact of Financial Technology for Small and Medium Enterprises (IFTSME) was used for data collection. It was face validated by three experts, two from Business Education and one from measurement and evaluation all from University of Nigeria, Nsukka. Reliability coefficient of 0.78 was obtained usiing Cronbach Alpha method. Mean and standard deviation were used in answering the research questions while t-test statistic was employed in testing the hypotheses at 0.05 level of signficance. The result revealed that the integration of financial technology has signficant impact on the SMEs point of sale performance in the state. The result also indicated a significant impact of financial technology on digital lending integration on SMEs performance in the state. Based on the findings of the study, the study among others recommeded that SMEDAN should from time to time organize training for SME operators on how to maximize financial technology solutions for improvement in their business performance.