2.1.5.4 Information communication technology (ICT) and small
business.
Over the years, information communication technology has metamorphosed from a luxury to a necessity. The need to survive and thrive in global business has forced businesses even in remote areas of Nigeria to embrace ICT. It is no longer new to see computers in shops and small business holdings in the country. The common organization of small business settings in Nigerian cities is to have business centres* which are set up to render services such as typing, photocopy, lamination, faxing as well as phone call centres. Cyber cafes commonly dot the streets of Lagos, catering for the ever increasing need to meet new clients and advertise merchandise. The contributions of ICTs to business development according to Frempong (2007) have been pervasive to the extent that it is becoming increasingly difficult for companies to compete effectively in the world market without adequate ICT infrastructures. The reason according to him is that ICTs are revolutionising every activity in the global market, as the various components of ICTs have their significant roles in facilitating business promotion, efficiency and growth. Also according to UNCTAD report in 2005, business processes such as ordering, transaction, delivery, inventory control and accounting can be streamlined and connected regardless of location through the use of network of computers. The internet has opened the way for electronic transactions (e-commerce) which allows for low cost and open ended business (Humphrey et al., 2003). Computers and the internet also open opportunities for learning and obtaining knowledge about happenings world over as well valuable business information. Mobile telephony technology has also greatly affected small businesses positively. Africa’s mobile market has been the fastest growing in the world in the last five years and has grown twice as fast as the Global market (Kelly and Biggs, 2007). Since the introduction of mobile phones in Nigeria earlier in the millennium, small business which operate as call centres have been on the increase and continue to grow with dynamism. The advent of mobile telecommunications has created opportunities for operators in informal business who hitherto could not afford fixed line Telephones, fax and internet. Frimpong (2007) who assessed the level of usage of internet by SMEs in Ghana recorded low level of internet usage (about 33.3%) in companies classified as formal business and only one company was found to have internet service at home. This could be linked to level of education since about 50% of formal business owners had only secondary education.