Financial technology: an alternative for financing small and medium-sized enterprises in Nigeria

Adam Konto Kyari, Musa Garba Gulani and Bukar Zanna Waziri

International Journal of Technological Learning, Innovation and Development, 2024, vol. 15, issue 3, 307-328

Abstract: This study examines the factors influencing small and medium size enterprises' (SMEs) decision to adopt Fintech as alternative source of finance. Data was gathered through a five-point Likert questionnaire and analysed via descriptive statistics, factor analysis, and multiple regression analysis. Except for changes in organisational characteristics which revealed a negative effect, changes in all the other three components of external system, innovation characteristics, and staff/individual characteristics revealed positive relationship with SMEs decision to adopt Fintech as alternative financing. Accordingly, this study concludes that Fintech is readily available, accessible, observable, and cost effective for SMEs in Nigeria. It is concluded that SMEs operators are satisfied that the Fintech industry in Nigeria is adequately regulated. Furthermore, the study concludes that Fintech adoption as alternative finance is consistent with SMEs beliefs, attitudes, and values. The study recommends further research on using longitudinal research design to cover SMEs long-term decision-making process.

Keywords: financial technology; alternative; financing; small and medium enterprises; SMEs; developing economy; Nigeria. (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=137484 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijtlid:v:15:y:2024:i:3:p:307-328

Access Statistics for this article

More articles in International Journal of Technological Learning, Innovation and Development from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().