Keywords
Digital Finance
Digital Payment System
Very Small Businesses
How to Cite
Abstract
The objective of this research is to find how very small business have benefitted from technological development that created the path for digital transformation across the globe. Demonetization and Covid 19 have affected very small businesses globally. The target population in this study are very small businesses owned by women or women-owned very small businesses (WOVSBs) and the field of research is the district of North 24 Parganas in West Bengal. The research employs mixed methods to track factors delaying digital adoption. The field visit took place between August 2024 and November 2024. This study finds that very small businesses are affected both by demonetization (2016) and Covid 19 because household income has fallen across the nation. However, the usage of digital payment system has increased due to government initiatives. Inspite of cash crunch, adopting digital payment system has helped very small business owners retain customers. The gap between education and digital competency has surfaced, underscoring the fact that digital literacy requires a different aptitude. This study suggests training of women with low education to maximize the advantages of digital payment systems which is a necessity at the moment.
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