COVID-19 and Technology Adoption in Small and Medium-Sized Enterprises: The Impact and the Way Forward
Small and medium-sized enterprises (SMEs) represent more than 90% of all companies globally and are an important driver of social mobility, creating seven out of 10 jobs. Unfortunately, these companies are struggling to embrace the Fourth Industrial Revolution (or Industry 4.0). The COVID-19 pandemic has posed unprecedented challenges for SMEs, further hampering their ability to invest in Industry 4.0 technologies, while at the same time highlighting their importance. This report uncovers the impact the pandemic has had on SMEs’ attitude to Industry 4.0 technologies. It highlights the barriers and the corresponding policies to promote wider adoption of these technologies where it can help to improve productivity for SMEs.
Small and medium-sized enterprises (SMEs) represent more than 90% of all companies globally and are an important driver of social mobility, creating seven out of 10 jobs. Unfortunately, these companies are struggling to embrace the Fourth Industrial Revolution (or Industry 4.0). The COVID-19 pandemic has posed unprecedented challenges for SMEs, further hampering their ability to invest in Industry 4.0 technologies, while at the same time highlighting their importance. This report uncovers the impact the pandemic has had on SMEs’ attitude to Industry 4.0 technologies. It highlights the barriers and the corresponding policies to promote wider adoption of these technologies where it can help to improve productivity for SMEs.