Technology Adoption: A Solution for SMEs to Overcome Problems during COVID-19

Abstract

This research study is aiming to provide a solution to the problems facing by SMEs during COVID-19. The main aim of this research to explore the problems faced by SMEs during COVID-19 and how technology adoption can help them in sorting out those problems. The research methodology will be based on previous literature review. Five significant problems of SMEs during COVID-19 are layoffs of employees, financial crunch, health issues of employees, fall in sales and turnover and fall in customer demands. The adoption of different components of technology, technology 4.0. social media and e-commerce can clarify customer demands, increasing automation, maintaining physical distance and increase in sales and turnover. The factors of technology adoption based on previous literature taken from the TAM model and UTAUT model. These factors are the owner's characteristic, perceived usefulness, perceived ease of use and facilitating conditions.

Keywords: SMEs, TAM, UTAUT, Performance, Social Media, E-commerce, Artificial Intelligence, Adoption

JEL Classification: M31, M30, M13