Navigating Digital Transformation: A Systematic Review of SMEs’ Transitions and Growth in the Digital Age

摘要

Digitalization plays a crucial role in fostering and amplifying the impact of small & medium enterprises (SMEs) worldwide. Experts recognize digitalization within SMEs as a pivotal driver for economic growth and employment both in the developed and developing nations across the globe. However, the accessibility of digitalization remains a significant challenge in certain developing countries. This study delves into the pivotal role of digitalization in enhancing SME contribution to the economy. Specifically, digital banking, e-commerce, digital marketing, robotics, digital skills, Instagram, e-trade, paperless operations, customer services, and financial services stand out as key contributors to economic growth and employment opportunities in countries at various stages of development. By thoroughly reviewing the existing literature and secondary data, the study reveals that digitalization profoundly impacted and empowered the SMEs, making a significant contribution to economic growth and employment rate in both developed and developing nations.