Expert urges SMEs to adopt digital technologies to boost business

The Managing Director, INTERMARC Consulting, Mr Adeyinka Adeyemi, a digital financial services firm, has urged Small and Medium Enterprises (SMEs) to adopt digital technologies to scale up businesses.

Adeyemi made this known on Thursday during a webinar organised by INTERMARC Consulting in partnership with Nigerian-Canadian Business Association with the theme “Digital Marketing for SMEs.”

He said that adopting digital technologies would help SMEs integrate into global markets, through reductions in costs associated with transport and border operations.

Adeyemi noted that digital transformation is important because it would enable SMEs and organisations to adapt to the ever changing dynamics in the world.

“For an enterprise, it means using technology to continually seek out ways to improve the end users experience.

“Technology is important because enterprises must evolve to remain competitive in their market space, if an SME is not evolving, then it is ready to fall behind, “ he said.

The Managing Director said that SMEs play a key role in national economies around the world, generating employment and contributing to innovation.

According to him, SMEs are central to the efforts to achieve environmental sustainability and more inclusive growth.

He, however, noted that better access to global markets and knowledge networks through the use of digital technologies would strengthen SMEs’ contributions.

Adeyemi said that digitalisation offered new opportunities for SMEs to participate in the global economy.

He, however, lamented that SMEs were lagging behind in the area of digital transition.

Adeyemi said that during the pandemic, lots of SMEs began to understand the importance of leveraging on digital platforms to promote and sell their brands.

He added that one of the strategies that sets leaders in the enterprise space apart is the fact that they spend more on transforming their businesses than running them.