Digitization in the small and medium-sized enterprise sector

Digitization in the small and medium-sized enterprise sector

Mobile communications and mobile Internet usage, Cloud Computing, enhanced social networking and Big Data are rapidly changing our society and economy. However, small and medium-sized enterprises need to be stimulated to benefit from digitization-related greater chances of development.

Web-based services, manufacturing processes and products are progressively changing our economic reality: virtual networks or temporary enterprises. The pursuit of greater efficiency and the need for networking are increasing steadily. Intelligent products and services are combined to create brand new value chains. It is here  that the small and medium-sized businesses can reveal their power , as they are traditionally flexible and innovative. However, market standards will be set now or in the near future. We must push forward the development of new platforms thus giving the opportunity to small and medium-sized enterprises to connect and scale up.

The powerful broadband networks will serve as the basis and driving force of digitization in the sector, and for this reason they are imminent all around the world, including the Balkan region. The broadband network is of particular importance for businesses located outside major cities. For them, connecting to large-scale networks is absolutely essential. To this end, both state and economy efforts are needed. It is necessary to create conditions for fast internet access and infrastructure building, and to mobilize the efforts of software companies to create products that facilitate networking and linking businesses.

However, such transformation and reorientation requires investment on behalf of the companies. Europe is already speaking not only about Industry 4.0 in digitization, but also the term SMEs 4.0 is being used more and more extensively and is also embedded in the economic development strategies of the leading European economies

It becomes clear that there is an urgent need for change in the qualification requirements for the people working in the industry of digitalization. A large proportion of those employed in enterprises lack the needed knowledge in the field of information technologies. This requires businesses to invest in training their employees to meet the demands of new technologies and innovative manufacturing processes.