Why is it so important for SMEs to go digital?
Internet and digital tools become a must in the context of the Digital Single Market strategy. The regulations proposed within the DSM greatly enhance the opportunities stemming from successful digital transformation, as well as pose risks connected with losing markets and customers due to digital business illiteracy. Although the digital revolution affects both ICT and traditional businesses, it puts significant pressure on Small and Medium Enterprises (SMEs) that are relatively more sensitive to global competition occurring within the Internet compared to their stronger, bigger counterparts.
Are Lithuanian SMEs ready to compete on the Digital Single Market?
Our analysis suggests that Lithuanian SMEs are the among the leaders of digital transformation in the EU. They operate in a supportive digital environment, benefiting from the developed digital infrastructure. Most of them make full use of various digital technologies such as websites, social media, management and e-commerce tools. Nevertheless, to keep pace with the digital revolution, they need to invest more in the further improvement of the digital skills of their employees