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How To Maximize Technology Support For Your SME Business In Nigeria in 2021.

Hillary Marcel 0

Introduction

SMEs are the lifeblood of the Nigerian economy, accounting for more than 90 percent of businesses and employing more than 60 percent of the workforce. Technology is an important tool that can help these businesses grow, but often they do not have the same access to technology or technical support as larger businesses. This can be a challenge when it comes to areas like website design and development, online marketing, and e-commerce, Inventory management, bookkeeping and accounting solutions. In this blog post, we will explore some of the ways technology can support SME business owners in Nigeria

 

Small and medium enterprises (SMEs) are the lifeblood of the Nigerian economy, accounting for more than 90 percent of businesses and employing more than 60 percent of the workforce. Technology is an important tool that can help these businesses grow, but often they do not have the same access to technology or technical support as larger businesses. This can be a challenge when it comes to areas like website design and development, online marketing, and e-commerce, Inventory management, bookkeeping and accounting solutions. In this blog post, we will explore some of the ways technology can support SME business owners in Nigeria:

Technology as a tool for growth for SMEs in Nigeria:

The rise of technology has made it possible for SMEs to grow at an unprecedented level. In fact, many companies have been able to leverage technology as a tool for growth. However, this does not mean that all companies will be able to benefit from the use of technology. If you want your business to grow using technology, here are some things you should consider:

1. Ensure that your staff are trained on how to use the software or equipment provided by your company

2. Find out if there is any software available in the market that can help improve your business processes and make them more efficient

3. Make sure that you have a clear understanding of what you want from this software or equipment before purchasing anything

Technology is the most important tool for growth for SMEs in Nigeria. It has been used in many ways to improve productivity, reduce cost and increase efficiency.

The problem with technology is that it is not available to all. It requires investment which is not always possible for SMEs who have limited funds.

This has led to the development of technology platforms where SMEs can use these platforms to access various tools that will help them grow their businesses.

Here are some ways technology can help SMEs in Nigeria:

  1. Collateral Management Platforms – These platforms allow SMEs to create collateral documents like invoices, receipts, cheques, quotations and proposals online without having to go through the hassle of printing them out and physically sending them to clients or partners as they have done before.
  2. Payment Gateway Integration – This allows payments made by clients online through their banks accounts or credit cards to be automatically reflected in your bank account after a certain period of time depending on how you set up your payment gateway integration settings on your website. This makes it easier for you as an entrepreneur since you don’t need to manually transfer money from one account into another whenever someone pays for any product or service on your website.
  3. Website Design & Development Technology: A website is one of the most important tools you need to run a successful business today. It’s where potential customers go to learn about your products or services before making a purchase. A good website design will make it easy for people to find what they need when they search for your brand on Google or social media platforms like Facebook or Instagram.
  4. If you don’t have an existing website yet and want to get started building one yourself, there are many free options available online including WordPress Live! which is offered by GoDaddy
  5. Cloud Based Services: Cloud computing is one of the most significant breakthroughs in technology today. It allows businesses to access their data from anywhere at any time on any device – whether it’s a laptop or a smartphone. Cloud services are also much cheaper than on-premises systems because they are hosted off-site and maintained by third parties instead of being installed on premises. This means that businesses do not need to worry about upgrading hardware or software; it’s all taken care of by their cloud service provider (CSP).
  6. Mobile Apps: Mobile apps allow SMEs to connect with customers directly through their smartphones or tablets without having to invest in expensive software or hardware upgrades. A mobile app provides a way for customers to access information about your business while on the go
  7. Social Media Marketing: You can use social media as a tool to market your products or services. When done well, this will translate into increased sales for your business
  8. Email Marketing: Email marketing is one of the most effective ways of reaching out to customers and keeping them engaged with your brand
  9. ideo Marketing: Videos are very popular on social media platforms like Facebook and Instagram so you should definitely incorporate them into your marketing strategy

How SMEs in Nigeria can embrace technology

It’s no secret that the world is moving towards technology and innovation. The rate at which we are adopting these new technologies is amazing.

In Nigeria, we are embracing technology like never before. There are so many companies that want to help SMEs in Nigeria embrace, financial management, digital marketing and make use of the latest tech trends.

Tracepos is Technology Start-up providing business management software for SMEs in Africa. The company provides a powerful SaaS (Software-as-a-Service) business management tool that makes it easy for business owners to manage their finances from anywhere with an internet connection. Tracepos offers high-quality accounting, reporting, and analytics tools to help businesses grow faster than ever before.  With office in Nigeria, the company has already helped over 800 small businesses across Africa grow their revenue by more than $100 million in just 18 months

One such company is Tracepos Technologies Limited, a Technology Start-up providing business management software for SMEs in Africa. The company provides a powerful SaaS (Software-as-a-Service) business management tool that makes it easy for business owners to manage their finances from anywhere with an internet connection. Tracepos offers high-quality accounting, reporting, and analytics tools to help businesses grow faster than ever before.  With office in Nigeria, the company has already helped over 800 small businesses across Africa grow their revenue by more than $100 million in just 18 months

Our solution is Tracepos.

Tracepos is a cloud based Retail Management Software delivered as Service. It is designed to assist business owners

  • to efficiently take inventory of their stock,
  • Process sales easily
  • keep track of customers’ records
  • Maintain suppliers’ information
  • Keep Track of Expenses
  • Perform accounting bookings
  • Generate Accounting Report
  • Eliminate fraud
  • And Many more

As a SaaS, Tracepos is offered as a monthly subscription. There are no upfront license fee, upgrade and maintenance are included as part of the subscription.

Learn more about Tracepos Retail Management and Accounting software by clicking on the button below 

Conclusion

Time after time, we see SME businesses suffer because they don’t adapt to fast-evolving technological trends. Sure, depending on the industry, and depending on a company’s needs, sometimes it makes more sense to go with tried-and-true technology. But as a general rule, SME businesses should consider investing in new, emerging technologies because they just might be their savior in the long term.

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