The government has been urged to put in place the right infrastructure to enable the use of technology in the growth and innovation of small businesses and enterprises.
This was made known at the Junior Chamber International’s (JCI) Innovative Enterprise Exhibition and Seminar in Lagos, titled ‘The Impact of Technology on Small and Medium-Sized Enterprises in Nigeria.’
Kola Osinowo, a Fintech and Digital Economy researcher spoke at the event and stressed the importance for small businesses to leverage technology to scale their business and create new ones.
Osinowo also said that technology, being an enabler, should be used to solve problems, adding that since technology can be used to facilitate innovation, it is important that all stakeholders, including government, business owners and individuals should embrace and support its growth.
He said: “There is a need to ensure that we have a broad Internet. For instance, there is a need to improve the power supply. Electricity is what facilitates the ability to use technology. Also, there is a need that government regulation doesn’t cripple somebody that is trying to use technology to solve a problem. One government regulation can kill a thousand businesses.
” Technology removes boundaries, inabilities, impossibilities and creates a level playing field for everybody. It’s time for Nigerian students to take advantage of it, so they can thrive in their academics.
“There is a need for the government to improve on infrastructure that fosters learning and increases access to education by providing the right level of technology. Currently, I am doing my PhD in the UK and my supervisor is in the UK and I am in Nigeria. We do communicate as we ought to, my research is focused on Africa, he is learning from me and vice versa and that is what the power of technology is able to do.”
Ayoola David, President, JCI, Ikeja, stated that it is important for young enterprising individuals from across boards and business ventures to learn, enhance and understand the influence that technological advancement and growth have on small and medium-sized businesses.
“Innovative Enterprise Exhibition and Seminar is a JCI Ikeja flagship event that brings together successful industry leaders in the society to share stories, insights and knowledge with young business owners and entrepreneurs.”