ONLINE BANKING AND GROWTH OF SMALL AND MEDIUM SCALE FIRMS IN DELTA STATE, NIGERIA
The foundation of Nigeria’s economy is made up of small and medium-sized businesses (SMEs), which have contributed more than 50% of all jobs and more than 80% of job growth in recent decades. Determining the substantial impact of financial technology on the expansion of small and medium-sized firms in Delta State is the study’s main goal. This study’s overarching goals were to ascertain how online banking affected the expansion of small and medium-sized firms. A descriptive research design method was employed in the investigation. A sample size of 105 small and medium-sized firms was determined by using stratified random sampling. Primary data for the study came from a self-administered questionnaire. The Social Science Statistical Package was used to analyse the data. The results revealed that online banking has significant effect on small and medium-sized firms growth. The implication of the result is that online banking is responsible for significant growth of small and medium-sized firms. In order to establish relationships with mobile phone service providers and provide operators flexible financial services, the report advises financial institutions to capitalise on the growing usage of internet and mobile services.
Keywords: Small and medium firms; SMEs growth; Online banking; Financial technology.
