Factors Affecting SMEs Emerging Technologies Adoption in Developing Countries: A Literature Review

Abstract

Small and Medium Enterprises (SMEs) constitute the most dynamic firms in emerging economies, by driving economic growth and job creation in developing economies. Therefore, it is important to identify factors that hinder SMEs’ growth. The most common factors faced by SMEs are the lack of technical and managerial skills. Furthermore, it is stated that the rapidly changing environment makes innovation more challenging. Thus, SMEs need to remain competitive and drive economic growth. The study objective was therefore to explore factors affecting SMEs’ information technology (IT) adoption in developing countries. The systematic literature review (SLR) methodology was used for the study. The source data was published articles and journals. The Technological-Organizational-Environmental (TOE) framework was used as the lens to explore the factors that affect emerging technology adoption in developing countries. The study results suggest that the main factors affecting SMEs’ emerging technology adoption are lack of finance and digital literacy. The study contributes to the body of knowledge on factors affecting SMEs’ adoption of ICT in developing countries. Small and Medium Enterprises (SMEs) constitute the most dynamic firms in emerging economies, by driving economic growth and job creation in developing economies. Therefore, it is important to identify factors that hinder SMEs’ growth. The most common factors faced by SMEs are the lack of technical and managerial skills. Furthermore, it is stated that the rapidly changing environment makes innovation more challenging. Thus, SMEs need to remain competitive and drive economic growth. The study objective was therefore to explore factors affecting SMEs’ information technology (IT) adoption in developing countries. The systematic literature review (SLR) methodology was used for the study. The source data was published articles and journals. The Technological-Organizational-Environmental (TOE) framework was used as the lens to explore the factors that affect emerging technology adoption in developing countries. The study results suggest that the main factors affecting SMEs’ emerging technology adoption are lack of finance and digital literacy. The study contributes to the body of knowledge on factors affecting SMEs’ adoption of ICT in developing countries.

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