Digitalization of small and medium-sized enterprises in the developing and developed countries of the world

Abstract

This research deals with the opportunities and challenges related to the adoption and use of digitalization in different countries in different geographical locations around the world, the results achieved so far, as well as ways in which micro, small and medium enterprises can be helped to start «go digital» business. The analysis in the first part includes the internationalization of business as the main trend of the modern economy. Digitization is then considered globally on examples from different continents. The analysis considered some of the results of digitization in the United States, Brazil, China, India, South Korea, Singapore, European Union countries, Serbia, and Russia. Australia and Africa were analyzed as separate entities. Based on the analysis, the paper concludes that the digitalization of micro, small and medium enterprises (SMEs) is necessary for the growth of enterprises, and in today’s conditions, even for the survival of enterprises in the market. A strong stimulus to the digitalization of SMEs caused by the COVID-19 pandemic is also cited.