Entering the electronic age, the word “go digital” is well accepted by Small and Medium Enterprises (SMEs) for the purpose of sales and visibility, fellow vendors showcasing the latest sale they just made online – that has a way of waking anyone up.
But to go digital means more – HR management software, Accounting software, Inventory management apps, just to name a few, have never been used by the average small business owner!
With the lack of sensitization and validation of business management software, this is no surprise.
The Effect of Not Going Digital
Over 50% of SMEs fail within the first 5 years, and almost 60% of SMEs end when the owner dies, that is just two of the effects of small businesses neglecting the not-so-shinny part of going digital.
This begs the question, how do we wake up SMEs, are they ready to play the business game in the electronic age and follow the rules?
Like all changes, for it to be accepted it will take some major initiative and evangelisms from the top, governments, and leaders need to see that investing in SMEs goes beyond loans, grants, and insurance, going digital for SMEs is also a big investment!
The communication has to change now if SMEs are going to be ready to go digital in the next 5 years.