Survey Reveals 88% of SMEs Have a Digitalisation Strategy in Place

Jul 31, 2023 - 16:50
Survey Reveals 88% of SMEs Have a Digitalisation Strategy in Place

Survey Reveals 88% of SMEs Have a Digitalisation Strategy in Place

New Delhi: In a sign of the growing digital transformation trend among Small and Medium-sized Enterprises (SMEs), a recent survey has revealed that a significant majority of these businesses now have a digitalisation strategy in place. According to the survey findings, a staggering 88% of SMEs have adopted measures to digitize their operations and embrace technology-driven solutions.

The survey, conducted by a reputable research firm, assessed the digital readiness of SMEs across various sectors in the country. It indicates a positive shift in how these businesses are adapting to the evolving business landscape, marked by increased technological advancements and changing consumer behavior.

The rising adoption of digitalisation strategies by SMEs can be attributed to several factors, including the growing importance of online presence, the need for efficient business operations, and the rise in consumer expectations for seamless digital experiences.

Embracing digitalisation enables SMEs to enhance their efficiency, reduce manual processes, and improve overall productivity. Furthermore, it offers a means to reach a broader customer base, both domestically and internationally, thereby expanding market opportunities.

Key aspects of the digitalisation strategies adopted by SMEs include leveraging cloud-based solutions, integrating e-commerce platforms, adopting digital marketing techniques, and implementing data analytics to gain valuable business insights.

The survey also highlighted that while the majority of SMEs are implementing digital strategies, there is still scope for further progress and investments in this direction. Some smaller businesses might face challenges in terms of access to resources and expertise, but industry experts suggest that these barriers can be overcome through collaboration and government support initiatives.

The government of India has been actively encouraging digitalisation among businesses, including SMEs, through various programs and incentives. Such efforts are aimed at boosting economic growth, fostering innovation, and preparing businesses for a digitally-driven future.

As digitalisation becomes increasingly crucial for business success, industry experts emphasize the need for continuous learning and upskilling among SME owners and employees. Building digital capabilities and staying updated with technology trends will be essential for SMEs to remain competitive and resilient in a rapidly changing market environment.

The survey results have been welcomed by stakeholders and policymakers, as they indicate the positive direction in which SMEs are moving in terms of embracing digital technologies. It is hoped that this trend will continue to gather momentum, contributing to the overall growth and development of the SME sector in India.

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