Going Digital – The Challenges facing European SMEs

Insufficient digital skills of their employees are one of some important problems from the point of view of European SMEs. Digital skills are also lacking on the external labor market, which makes recruiting IT specialists difficult for SMEs. A majority of SMEs therefore relies on training their staff…

The KfW survey indicates potential for improvement reading between the lines. Main strengths of small and medium-sized companies in Europe are quality and customer service. To keep this high standard relevant for competitiveness it is more than necessary to re-think business concepts. European SMEs show a great diversity in terms of digital activities reflecting all facets of the concept itself – what does digitalization exactly mean? Are we talking of digitalizing processes or using artificial intelligence for daily business?  What will be the innovative business model of the future considering human connect? Let’s make room for systematic and structured reflection!