Nearly 70% of small and medium-sized enterprises (SMEs) in
There are numerous opportunities that unlock the full potential of digitalisation for these businesses and the continent, which means addressing barriers, such as infrastructure, connectivity, and the high cost of implementing technology, and developing best practice frameworks for better collaboration.
These are findings from a new report, titled ‘Levelling the SME Playing Field’, jointly launched by
"This report explores the specific challenges SMEs face in
The adoption of technology by Africa’s SMEs presents unique challenges. Going beyond inadequate infrastructure and access to connectivity, the findings reveal the greatest difficulty for SMEs is the high cost of technology upgrades and renewals (58,3%), which can prevent small businesses from keeping up with the latest technological advancements. Almost a third of SMEs (32%) are also concerned about a lack of digital skills and knowledge to take full advantage of technology solutions. In addition, the research points to regulatory and compliance issues as stumbling blocks in SMEs’ efforts to digitalise.
The research is based on conversations with 400 SMEs across eight African countries (
In
To help drive technology adoption among the continent’s SMEs, the report outlines the importance of sharing best practices, to enable better decision-making and cost-effectiveness. From a knowledge-sharing perspective, these standards foster a learning culture by helping to identify gaps in understanding and making it easier to implement innovative ideas, while also providing an internal knowledge base and reducing the loss of know-how. Furthermore, adopting proven practices and technologies is faster and safer than testing new ones.
"Digital solutions and tools open possibilities for entrepreneurs and small business owners to connect and discuss best practices so that they can learn from each other's experiences, mitigate common hurdles and maximise their potential. We at
Click here(https://apo-opa.co/4awySQY) to download the paper.
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