The adoption of new technologies can contribute to both efficiency and effectiveness and is a key source of long-term competitive advantage in entrepreneurial ventures. This is particularly relevant for poverty entrepreneurs. However, the literature on technology adoption and use in the poverty context is sparse, and is predominantly focused on developing economies. The current article seeks to address these shortcomings. We identify critical areas of typical ventures launched by the poor that are affected by technology.
Agriculture is a vital sector that will feed a projected global population of 9.5 billion by 2050. Smallholder farmers produce more than 70 percent of the world's food. Globally, there are approximately 570 million smallholder farmers, who own less than two hectares of land. However, smallholders in most developing countries face challenges such as access to finance and insurance, unfair wages, access to agricultural resources and lack of market access.