News from 2016-08-18 / KfW Research
SMEs and digitalisation: The current position, recent developments and challenges
German SMEs have a great deal of catching up to do when it comes to digitalisation. Although over 80 % of SMEs have carried out digitalisation projects during the past three years, small companies in particular spend only moderate amounts on them. Only one in five companies is a digital pioneer. A third are still in the early stages of digitalisation. A shortage of IT skills within the workforce (67 %), data security and data protection (62 %) and inadequate internet connection speeds (58 %) represent key obstacles. Many companies do not currently recognise the benefit to their business of further digitalisation and baulk at the high costs (59 %). Thirty-two per cent of SMEs are hampered by the difficulties of financing digitalisation.
SMEs and digitalisation: The current position, recent developments and challenges
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