ICT can assist businesses in many ways such as improving communication, making document processing and handling more efficient, enhancing accounting and financial functions, enabling e-commerce transactions, aiding sales and marketing efforts, allowing remote work and teleconferencing, expediting research, and supporting general office management tasks. When implemented effectively, ICT makes businesses more efficient, productive, and able to better serve customers.

1. HELE
Information and Communication Technology
in
Entrepreneurship

2. INFORMATION AND COMMUNICATION TECHNOLOGY
VS.
ENTREPRENEURSHIP
Entrepreneurship- the process
of setting up a business.
It can boost economic growth by
introducing innovative technologies,
products, and services.
Entrepreneurs are important to market
economies because they can act as the
wheels of the economic growth of the
country. By creating new products and
services, they stimulate new
employment, which ultimately results in
the acceleration of economic
development.
Information and
Communication
Technology
ICT can assist business
activities, it makes a
business more efficient,
effective and promptly
respond to customers'
needs.

3. THE ROLE OF ICT IN BUSINESS AND
COMMERCE
The field of Information and Communication Technology, or ICT,
has improved tremendously the past years. At the heart of this
development are computer hardware and software. The flow of
information and communication between people in distant places is
now done almost instantaneously with the use of computers and its
peripherals such as scanners and printers. Experts say we are now
living in what is called the “Computer or Digital Age.” Today’s
technology has enabled persons to get connected with just a “click.”

4. HOW ICT SERVES BUSINESS
Â. Communication
B. Document Processing and Handling
C. Accounting and Finance
D. Financial Transactions through E-Commerce
E. Sales and Marketing
F. Telecommunicating and Remote Business
Handling
G. Research
H. General Office Management

5. ICT for Communication
A most positive impact of ICT on business is in the
field of communication. With the development in
the field of ICT, communication between persons,
irrespective of their location, has become
instantaneous. Handheld devices such as mobile
app help participants on conferences and meeting
to manage their schedules and have networking
opportunities. Sales transactions, stock
inventories, cash positions, and electronic mail (or

6. ICT for Document Processing and Handling
A few years back, there were many devices in offices
used for document processing and filing. The most
common among them were the typewriter, fax machine,
and filing cabinet. These devices not only occupied big,
precious office spaces, but also made the flow of
information slow and time-consuming.
Now, information is stored in small ICT devices such as
mini computers, CD’s, flash drives, and external hard
drives. The space occupied by old storage facilities for
records has shrunk tremendously, and retrieval of the

7. ICT for Accounting and Finance
Accounting is a very important and critical part of
any business undertaking. Many business decisions
are made based on accounting figures. The use of
computers in accounting and finance has
revolutionized the accounting profession. The
computer itself has become a reliable, accurate, and
a fast accounting workhorse. There are many new
computer software in the market at present that
make accounting work a breeze. Spreadsheets can

8. ICT for Financial Transactions through E-Commerce
E-commerce is commercial transaction carried out
electronically through computers. Products and
services can be advertised and sold online. An
example is the purchase of goods done through
credit cards without the actual exchange of cash for
the item bought. One can book flights online in
order to travel. The ticket seller and buyer complete
their transactions without meeting face-to-face. The
database keeps a mailing list of customers/clients.

9. Banking transactions also rely heavily on ICT,
such as Internet banking, mobile banking, credit
cards, and the automated teller machine (ATM).
Have you withdrawn or deposited money from an
ATM lately? Be sure to be accompanied or
supervised by an elder member of your family
when doing digital banking transactions. ICT has
definitely expanded the different possibilities of
doing financial transactions called electronic
commerce, or e-commerce. This is cost- and
time-efficient. It increases the coverage of the

10. Sales and Marketing
ICT, especially the Internet, has become a very
potent marketing tool. Social media networks,
websites, electronic newsletters or e-newsletter,
and online advertisements through the
computer have all become effective and quick
means of reaching the target market for
business entities. A company can advertise its
products and services on its own websites or
send messages to their clients through e-mails

11. Telecommunicating and Remote Business Handling
Business nowadays can be conducted from almost
anywhere. Instructions from managers based in
faraway places can now be given instantaneously
to staff members in their work places with the use
of portable laptop computers with Internet
connection as well as smart mobile phones.
Business persons from different locations locally,
and globally, can also meet and talk as if they are
gathered in one room through teleconferencing

12. ICT for Research
Now research can be done in minutes, through search
engines. ICT offer tremendous amount of information on
practically any subject matter. A computer can be used as a
resource for getting product information and prices from
websites of business establishments. There are search
engines on the websites such as Google and Yahoo that
business persons can use to obtain the latest information
and news on many topics and products. Research websites
for students, educators, and professionals that end with
.com or .org usually lean toward the goals of a social

13. ICT for General Office Management
ICT gadgets are now vital to the success of almost
all business organizations. They are used to keep
company records, prepare documents, and get
connected with both employees and customers.
Business entities/or Existing business use
technology in the preparation of office documents
like billing, inventory management, and
preparation of company payrolls. With the use of