State support for the digitalization of SMEs in European countries

Author:

Strilets Viktoriia1ORCID,Frolov Serhiy2ORCID,Datsenko Viktoriia3ORCID,Tymoshenko Oksana4ORCID,Yatsko Maksym5ORCID

Affiliation:

1. Doctor of Economics, Associate Professor, Department of International Economics and International Economic Relations, Poltava University of Economics and Trade

2. Doctor of Economics, Professor, Department of Finance, Banking and Insurance, Sumy National Agrarian University

3. Ph.D. in Economics, Associate Professor, Dean of the Faculty of Economics, Business and International Relations, University of Customs and Finance

4. Ph.D. in Economics, Associate Professor, Department of Economics, Poltava University of Economics and Trade

5. Ph.D. in Economics, Associate Professor, Department of Accounting and Auditing, State Higher Educational Institution “Uzhgorod National University”

Abstract

COVID-19 and Russia’s war against Ukraine have created many challenges for the business models of SMEs, stimulating them to develop alternative forms of business. Among the key alternatives, one should single out digitization. However, imperfections of Ukraine’s state support system for digital transformation necessitate adapting the positive practice of leading countries with excellent business digitalization. Therefore, this paper structures the practical experience of state support of European countries in the digitalization of SMEs. The study conducts a cluster analysis to identify countries whose experience in state support for business digitalization is the best for adoption. Clustering employed the criterion of using key digitization instruments: internet of things, integration of business processes into electronic processes, digital integration with customers/suppliers, cloud services, big data analysis, and artificial intelligence. Thus, 4 clusters were identified (the first cluster comprises 16 countries, the second – 2, the third – 5, and the fourth – 7). These findings contributed to the selection of some key measures. They included: expanding the financial capabilities of SMEs to adopt digital technologies in their processes; formation of digital hard skills among entrepreneurs and increasing the personnel potential of SME digitization; creation of a favorable business environment to stimulate the digital activity of SMEs; and popularization of business digitalization strategy as a component of digital transformation strategy in society.

Publisher

LLC CPC Business Perspectives

Subject

Business and International Management,General Business, Management and Accounting,Information Systems and Management,Law,Sociology and Political Science,Social Sciences (miscellaneous)

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