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 Slovak SMEs ready to compete on the Digital Single Market?
Our analysis shows that Slovak enterprises have access to a moderately well developed digital infrastructure and recognize the need to invest in training for their employees and ICT specialists. However, in terms of adoption of main digital technologies Slovak SMEs present a mixed performance: they take the regional lead in the usage of cloud computing services, but their uptake of social media and CRM is below the regional average. To reap the benefits of the Digital Single Market, the Slovak SMEs need to strengthen their engagement in cross-border e-commerce.