A Study on the Impact of Digitalization on SME Growth

Abstract

Small and medium-sized enterprises are a critical component of the global economy, contributing significantly to job creation, innovation, and economic growth. The emergence of digitalization has significantly changed the business landscape leading to both challenges and opportunities for SMEs. The study provides new insights into how digital platform service providers may assist SMEs in their transformation and competitiveness. This chapter aims to provide a comprehensive review and analysis of the impact of digitalization on SMEs growth. The study explores the various aspects of digitalization, its effects on SMEs, and strategies that SMEs may use to take advantage of digital technologies to enhance growth and competitiveness. A total of fifteen papers are reviewed; their methodology and findings are summarized. It shows that digital transformation ensures easy accessibility of the business significantly affects customer relationships. The results further indicate online selling and digital marketing as the leading digital platforms successfully implemented by most SMEs.