SMEs Going Digital
Policy challenges and recommendations
Despite potential benefits, small and medium-sized enterprises (SMEs) lag behind larger
firms in their adoption of digital technologies. Moreover, digital adoption by SMEs
is to a large extent still confined to basic services, and adoption gaps increase
as technologies become more sophisticated. The COVID-19 crisis has accelerated SME
digitalisation, but barriers to adoption persist. The stakes are high, not only because
SMEs make up most of the business and industrial fabric in most countries and regions,
but also because they are strategic actors in large firms’ supply chains and play
a key role in building inclusive and resilient societies. This Going Digital Toolkit
note identifies the challenges that governments face in enabling SMEs to benefit from
digital transformation and outlines key policy recommendations, including: 1) encouraging
digital uptake by SMEs, 2) supporting SME training and upskilling, 3) strengthening
management skills in SMEs, and 4) leveraging financial technology (Fintech) and alternative
sources of finance for SMEs.
Published on August 04, 2021
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