New technologies are changing the way in which firms operate. Therefore a strong business ecosystem is necessary to support companies in managing this change. The SME Competitiveness Outlook recently released by the International Trade Center (INSME Member) focuses on technological changes related to digitalisation and the rise of the platform economy. The report specifically highlights how SMEs can take the most from technological change and potential pitfalls to avoid. On the one hand traditional actors involved in promoting trade and investment, can play a fundamental role in helping companies in managing these changes, by embracing new technologies, forging fresh partnerships, building trust, and taking calculated risks. On the other, in order to take the most from the digital transformation, it is vital for SMEs to be connected to physical and digital infrastructure. SMEs that do not have internet connection or adequate access to infrastructures cannot take advantage of services provided through the platform economy and find it impossible to trade.
The Outlook particularly look at how big data can be tailored to the needs of SMEs, the skills needed to adapt to technological change, how to instill trust in new technologies to facilitate their use by SMEs and last but not least how last mile gaps in transport and ICT infrastructure can be overcome.
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