Digital Financial Inclusion and Small and Medium Enterprises (SMEs) Growth in Akure Metropolis, Ondo State (Published)
Ondo State has witnessed growth in digital financial inclusivity especially among the Small and Medium scale Enterprises (SMEs), therefore the need to determine whether the introduction of digital financial inclusion in the State has affected the growth of SMEs. The central objective of this study is therefore to assess the impact of digital financial inclusion on the growth of SMEs in Ondo State. In order to achieve this objective, the impact of digital financial accessibility, digital financial usage and digital financial service quality on sales growth, profit margin and customers’ growth were explored. In this study, a total of four hundred questionnaires were administered to the respondents who were SMEs owners/managers in Ondo State, the analysis was therefore conducted using 385 responses representing a response rate of 96.25%. The data collected were processed and analyzed using multiple linear regression through Statistical Package for Social Sciences (SPSS v 26). The findings indicate that firstly: both digital financial usage and digital finance service quality have positive and significant impact on sales growth but digital financial accessibility showed otherwise. Secondly, that both digital financial accessibility and digital financial service quality have positive and significant impact on profit margin while digital financial usage indicate otherwise. Lastly, while digital financial usage showed negative and insignificant impact on customers’ growth both digital financial accessibility and digital financial service quality have positive and significant impact on customers’ growth. This study concludes that the digital financial inclusion of SMEs has led to the growth of the SMEs in Ondo State. This study therefore recommends business policymakers in Ondo State to adopt a comprehensive policy for digital financial inclusion in order to help the SMEs to develop and grow faster especially those in the rural areas.
Keywords: Digital, Financial Inclusion, Growth, SMEs
Relationship Between Digital Advertising and Consumer Purchasing Behaviour in Delta State, Nigeria (Published)
The purpose of this study is to investigate the correlation between digital advertising and consumers’ purchasing behaviour. Rationalized by the diffusion of innovation theory, a survey was conducted with 400 respondents to gather data on their exposure to digital advertising, their attitudes toward it, and their actual purchasing behaviour. To achieve the research objectives, two hypotheses were formulated and tested to examine the inter-relationships among the variables. The results showed that as consumer perception of digital advertising increases, so does the likelihood of them making a purchase. Also, the more positive their perception is, the more likely they are to be influenced by various factors that drive their purchasing decisions. However, the effectiveness of digital advertising varied depending on the relevanc, credibility of product or service being advertised, with some products benefiting more from digital advertising than others. Additionally, consumers’ attitudes towards digital advertising played a role in their purchasing behaviour, with those who had more positive attitudes being more likely to make a purchase. The study concludes that digital advertising can be an effective tool for marketers to influence consumers’ purchasing behaviour, but it is important to understand the nuances of how it affects different types of products, services and how consumers perceive them.
Keywords: Advertising, Behaviour, Consumer, Digital, Purchasing