Impact of Innovative Technologies on the Development of Small and Medium-sized Businesses in the Digital Economy
Year: 2025
Type: article
Abstract: The digital economy creates significant opportunities for the development of small and medium-sized enterprises (SMEs) by facilitating process automation, cost optimization, expanding markets, and improving customer experience. At the same time, digitalization requires significant financial resources, a high level of digital competencies of staff, and the ability to quickly adapt to technological changes, which are serious challenges for business. The article conducts a SWOT analysis to identify the key advantages, disadvantages, threats and opportunities of digitalization for SMEs. The main ways of adapting enterprises to digital changes, including the development of digital skills of employees, the introduction of modern platforms and technologies, as well as cooperation with other participants in the digital ecosystem, are investigated. Considerable attention is paid to optimizing management, improving the efficiency of business processes, and developing the innovative potential of enterprises. The results of the study show that digital transformation is a key factor in increasing the competitiveness and long-term sustainability of businesses in the digital economy.
Source: Economic scope
Authors: Borys Samorodov, Volodymyr Kotkovskyi
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4407409702