Shifts in both the sense and direction of IT development coupled with shifts in global economy have caused small to medium enterprises (SMEs) to enjoy an increasing prominence in national economic development. In order to succeed within a competitive milieu, these companies must boost the quality of their products and management processes while reducing costs. Therefore it becomes imperative to deploy IT. Studies show that while SMEs could profit from IT and E-Commerce, but to reap its benefits and succeed in deploying this technology they need to secure special conditions. In other words, the success rate in SMEs is contingent-based. Such realities have led to numerous studies and research to identify the factors impacting on IT deployment in SMEs. The present paper initially explains the role of SMEs in economic development and would follow it up with the application of IT in these enterprises. The cogent impact factors are categorized and presented within the framework of Pettigrew and Whipp change model.