Impact of Cryptocurrency on SMEs in Nigeria; A Case Study of SMEs in Lagos State

B.Sc. Bartholomew Akintola, BSc

Master's thesis

Abstract:

This research study investigates the impact of cryptocurrency on small and medium-sized enterprises (SMEs) in Lagos, Nigeria. The study uses a quantitative approach and collected data through a structured survey questionnaire from 300 SMEs. The results indicate that facilitating conditions, effort expectancy, and perceived risk are significant factors affecting the adoption of cryptocurrency by SMEs in Lagos, Nigeria. Facilitating conditions, such as availability of technology, infrastructure, and supportive regulations, have a positive impact on the adoption of cryptocurrency by SMEs. Effort expectancy, which refers to the perceived ease of use of cryptocurrency, also has a positive impact on adoption. However, perceived risk associated with cryptocurrency has a negative impact on its adoption by SMEs in Lagos, Nigeria. The study concludes that policymakers and regulators should focus on creating a supportive environment for the Adoption of Cryptocurrency by SMEs. This includes improving technology infrastructure, promoting regulations that safeguard against risks, and increasing awareness of the benefits of cryptocurrency adoption. SMEs should also be encouraged to explore and adopt cryptocurrency as it has the potential to increase their financial inclusion, reduce transaction costs.

Keywords

Cryptocurrency, Volatility, SME

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 3. 4. 2023

Obhajoba závěrečné práce

• Obhajoba proběhla 29. 5. 2023
• Vedúci: PhDr. Ing. Tomáš Maier, Ph.D.
• Oponent: Lukáš Novotný, externi

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme:
Economics and Management