Firms of all sizes, across all sectors, are increasingly equipping their staff with digital tools. Today, over half of employees in the median firm, now use computers with Internet access.

 

Digital tools bring many significant benefits for firms. Digitalization reduces transaction costs by providing better and quicker access to information, and communication between staff, suppliers, and networks. It can help small and medium-sized businesses (SMBs) integrate into global markets, through reductions in costs associated with transport and border operations and it significantly enhances the scope to trade services. 

 

Despite the benefits and opportunities digital technologies bring, and the significant increase in uptake in recent years, many SMBs continue to lag in adoption, and for smaller SMBs, with 10- 49 employees, digital adoption gaps, compared to larger firms, have grown over the last decade due to lack of knowledge or finding the right consultant.