Driving SMEs growth with technology - Punch Newspapers

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you know that small and medium-scale enterprises represent about 90 per cent of businesses and more than 50 per cent of employment worldwide? According to the World Bank, formal SMEs contribute up to 40 per cent of national income in developing countries.

If you look around, chances are high that you can mention 10 SME owners without thinking too much about it. This comes as no shock since unemployment is a hard nut to crack in many African countries. Even so, the SME sector continues to accommodate many youths who struggle to turn their side hustles into actual businesses.

Amid ongoing digital transformation, small and medium scale businesses cannot risk being left behind at any time. Like major companies that are taking advantage of modern technology to remain competitive and drive growth, SME owners would do well to leverage digital tools beyond their use in the day-to-day running of their business. No doubt, when utilised effectively, technology can help accelerate business growth and success.

If you have studied the market strategy of popular brands, you will notice that some of the advertisements they put out link people to their websites where their products or services are displayed. Having an attractive website with relevant and concise information, not to mention good speed, can attract visitors and prospective customers in droves. What people see tends to have a strong impression on their perspective on things.

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