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It Solutions For Small And Medium Business

It Solutions For Small And Medium Business – This article is part of a series in which OECD experts and thought leaders – from around the world and all sectors of society – address the COVID-19 crisis, discuss and develop solutions now and for the future.

It aims to promote the exchange of expertise and ideas in the fields to help us develop this important challenge. The views expressed do not necessarily represent the views of the OECD.

It Solutions For Small And Medium Business

It Solutions For Small And Medium Business

To keep up to date with all OECD activities supporting the fight against COVID-19, visit the Digital Content Hub.

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COVID-19 has highlighted the need for SMEs to embrace digital transformation to become resilient and grow.

The COVID-19 pandemic is a once-in-a-century global public health crisis. Governments around the world have imposed strict restrictions on the human right to migrate both domestically and internationally.

Businesses are unable to produce goods or services because they do not have enough workers and cannot enter the workplace. Preventive measures, such as border controls and “social distancing”, further reduce production and limit consumer access to physical markets.

The outbreak of COVID-19 has highlighted the major economic, health and social risks associated with traditional ways of doing business in almost all sectors.

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The impact of COVID-19 on small and medium enterprises (SMEs) has shown them to be particularly vulnerable. Many people face serious loss of income and do not have enough cash to meet their ongoing obligations.

This has economic implications. Across OECD countries in 2019, SMEs account for 99% of all businesses and between 50% and 60% of value added (the amount by which the value of a good or service increases at each stage of production, excluding initial costs). About one third of the population work in small businesses with fewer than ten employees and two thirds in SMEs (OECD, 2019). SMEs are incubators for innovation and can grow into large enterprises that generate GDP and increase productivity.

Many governments have recognized these risks and acted. In New Zealand, several support measures have been introduced to ease the pressure on businesses, including SMEs. These include wage and other support, small business finance guarantees and cash flow loans, tax changes and flexibility in payment periods, insolvency relief and advisory/counseling services.

It Solutions For Small And Medium Business

SMEs have responded to the current crisis by adopting new things and new developments, including sharing ideas and platforms among themselves and supporting each other digitally.

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Looking beyond COVID-19, we are in the midst of a global transition to a digital economy and society. It has the potential to increase creativity, improve productivity and improve well-being. The outbreak has increased the urgency and speed of change, as traditional businesses in many countries are disintegrating and with consumers now having to interact with companies through digital platforms.

More on Modern Networks: The Value of Connectivity: How COVID-19 Changed Us in Digital Societies by Enrique Medina Malo, Chief Policy Officer, Telefónica, S.A.

Traditionally, many SMEs have not embraced the potential benefits in productivity and competitiveness arising from the adoption of digital technologies for a number of reasons. For example, they cannot articulate their needs or desires clearly, or they may not have the knowledge, experience or resources to implement change.

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SMEs that can quickly adapt their processes to changing conditions have a great advantage by acquiring and using digital technologies that adapt to changing customer expectations.

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Governments that support SMEs through the early stages of the COVID-19 crisis have the potential to help them not only become more resilient to major shocks, but also build the environment for capacity-building, sustainable businesses that enable them set to continue growing. The adoption of digital technology by the SME sector will lead to a historic change in total productivity and well-being in countries, regions and societies (OECD, 2019).

Digital empowerment doesn’t just mean using a cloud-based accounting provider, or developing a website, or even engaging in digital marketing, although all three of these activities are essential to operating in the “new world.” Digitization is about using the information generated from business activities to improve the entire business process.

Established in 2018, the OECD Digital for SMEs Global Initiative (D4SME) aims to promote knowledge sharing and learning on how to enable all SMEs to make the most of digital transformation. D4SME aims to improve how governments, regulators, business sectors and other institutions can promote digital growth and technology adoption by SMEs by:

It Solutions For Small And Medium Business

The D4SME action plan in 2020 has three strategic pillars: analytical research; case studies and bank data digitization of SME activities; and communication and policy discussions. Countries can learn from each other about what works and profile the best examples of how different types of SMEs can take advantage of digital benefits (OECD, 2019).

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We need to do this in partnership with SMEs, including small businesses. We need to better understand the motivations and capabilities of business owners, so that policies can be tailored to meet their needs. In New Zealand there is a Small Business Strategy, written by SMEs. The government is also driving greater digital initiatives through e-invoicing, Business Integration and Better for Business, facilitating business-to-government interactions through digital channels.

Many SMEs are at the forefront of digital development with new ideas, technologies, services and products. The main issue is to increase the creative capacity of many other non-frontier businesses by understanding how they identify, adopt, implement and adapt new ideas.

The use of mobile phones, laptops, computers, websites and cloud services is common now, but we need to understand what services they use and how they integrate them into their business activities.

How SMEs use new technology is also important. The use of mobile phones, laptops, computers, websites and cloud services is common now, but we need to understand what services they use and how they integrate them into their business activities.

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For SMEs to play a key role in the post-COVID-19 recovery, it will require significant investment in skills, business development and change management. However, the most surprising thing is that in order to achieve change, it does not require a huge investment in technology at the company level, since the necessary tools are free or surprisingly cheap considering the factors that give it.

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However, I believe what is needed more than anything at this time is real leadership: from within government and from the private sector.

Whether you agree, disagree or have an opinion, join the Network Forum for free using your email or social media account and tell us what’s happening where you are. Your comments are what make the network a unique space, bringing together citizens, experts and policy makers in a respectful debate.

It Solutions For Small And Medium Business

Stuart Nash is the minister for small business, finance, fisheries and policing in the cabinet of New Zealand Jacinda Ardern. Mr Nash represents the city of Napier in the North Island, as an MP. He has a BA from Victoria University of Wellington; Masters in Forest Science from the University of Canterbury; and a Master of Business Administration and a Bachelor of Laws from the University of Auckland.

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These trackers help us provide a personalized user experience by improving the quality of your choice management and allowing interaction with external networks and platforms. These days, regardless of the type of business you run or even the industry you’re in. ‘If you work indoors, your advantage depends on the intelligent use of the right kind of technology – now more than ever. But when your technology doesn’t work—or worse, it works inefficiently for you—getting to that point becomes a daily, frustrating, uphill battle in the worst possible way.

It Solutions For Small And Medium Business

IT’S OFFICIAL: Managed IT Services is ready for the big time. These aren’t just for industry, and in fact they will benefit almost any type of business you can think of in amazing ways that are worth exploring.

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The biggest benefit that IT management brings to the table for most industries is one of almost immediate cost savings. Instead of paying to buy hardware, install it, configure it, and pay again to have someone else take care of it through your internal infrastructure, you can trade all those wild and unpredictable costs for one.

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