Challenges of Accounting Information System Adoption in SME Financing in Keffi Local Government Area
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Background of the Study
Small and Medium Enterprises (SMEs) face several challenges in financing, including poor financial management and inadequate access to credit. The adoption of Accounting Information Systems (AIS) in SMEs can improve financial management by providing accurate financial data, facilitating decision-making, and enhancing the credibility of SMEs to financial institutions. However, many SMEs in Keffi Local Government Area (LGA) face challenges in adopting AIS, which may limit their potential to grow and secure financing.
Statement of the Problem
While AIS offers significant benefits for SMEs, many SMEs in Keffi LGA are still reluctant to adopt these systems due to a variety of challenges, including high implementation costs, lack of technical skills, and resistance to change. This study will explore the barriers to AIS adoption in SME financing in Keffi LGA and evaluate the impact of these barriers on SME growth and access to finance.
Aim and Objectives of the Study
Aim: To assess the challenges faced by SMEs in Keffi Local Government Area in adopting Accounting Information Systems for financing purposes.
Objectives:
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To identify the challenges faced by SMEs in adopting AIS for financial management.
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To evaluate the impact of these challenges on SMEs' ability to access financing.
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To propose strategies for overcoming the barriers to AIS adoption in SME financing.
Research Questions
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What are the major challenges faced by SMEs in Keffi LGA in adopting AIS for financial management?
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How do these challenges affect SMEs' access to financing?
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What strategies can be implemented to overcome the challenges of AIS adoption in SME financing?
Research Hypothesis
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H₀: Challenges in adopting AIS do not significantly affect SMEs' access to financing in Keffi LGA.
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H₀: There is no significant relationship between the adoption of AIS and the financial growth of SMEs in Keffi LGA.
Significance of the Study
The study will contribute to a better understanding of the barriers preventing AIS adoption in SMEs and the subsequent impact on SME financing. The findings can guide SMEs, policymakers, and financial institutions in fostering better financial management practices and facilitating access to credit for SMEs.
Scope and Limitation of the Study
The study will focus on SMEs in Keffi LGA and the challenges they face in adopting AIS for financial purposes. Limitations include potential difficulties in obtaining data from SMEs and their willingness to disclose sensitive financial information.
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