Prospects of Introducing Modern Technology into SME Businesses in Ghana

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DOI: 10.21522/TIJMG.2015.05.02.Art009

Authors : Philip Spitta Ansah

Abstract:

The prospects of introducing modern technology into the operations of Cottage and Small industries has been the focus of most governments in emerging markets due to the enormous benefits it accrues to the economy of nations. The study is aimed at determining the strengths and opportunities linked with introducing modern technology into these local industries. The findings and recommendations of the study will go a long way in identifying the vast prospects of economic benefit to the government and also to the other stakeholders involved. The problem of youth unemployment can be reduced by the introduction of modern technology in the cottage industry as discovered during the study. It is also envisaged that the study will also have some impact when it comes to enriching the body of knowledge on the subject of technology management introduction into cottage and small-scale enterprise businesses in Ghana. The study found out that, prospects for introducing modern technology in the cottage industries are very bright considering that a lot more output could be achieved to bring in more income to cottage groups like weavers, palm oil producers, Shea butter producers, soap and other beauty products producers etc. than the existing traditional methods. It also came out during the study that it is unlikely that the existing small cottage owners/workers would be able to fund the equipments needed for a smooth integration of technology into their businesses. The study concluded that the introduction of modern technology into the cottage industry business is likely to enhance the fortune of the industry as well as create more jobs and therefore stakeholders should liaise with the appropriate authorities including the Trade & Industry ministry and Employment & Social welfare ministry to ensure that the necessary structures have been put in place to enhance the smooth integration of modern technology into SME industry in Ghana.

Keywords: Cottage industry, Technology management, Prospects, Small industries, innovation.

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