2. Introduction
Digital transformation impacts every sector of the economy including SME
business. Digital transformation benefits from modern technologies such as cloud
computing, big data, artificial intelligent (AI), machine learning, mobile
(smartphone), social media and many more.
To proceed, remember the 4 W’s & H
What – Digital transformation, and SMEs.
Who – Entrepreneur - SMEs.
Where – Digital - Online.
How – Transformation - Change.
Why – Importance (Modern).
Digitalisation is here with us, and rethinking our business process in this modern
age is called – Digital Transformation.
3. What – Digital transformation, and SMEs.
Digital transformation
Is the application of modern, fast, reliable and changing digital
technology to provide solutions. It transforms existing business,
cultural processes and experiences to current business changes and
market expectations. For example, cloud computing.
Types of digital transformation:
business process,
business model,
domain, and
cultural/organizational
What – Digital
transformation,
and SMEs.
4. What –SMEs.
Small and medium-sized enterprises (SME’s) or small and medium-
sized businesses are businesses whose number of employees are few
or limited. SME’s are formal businesses managed by an entrepreneur
with the purpose of creating employment and profit.
Globally, SME’s generate high number of employments and contribute
to Gross Domestic Product (GDP). For example in India, between 2016-
2017, 28.9%, and employment in Hong Kong – (over 23%).
Digitalisation can make SME’s competitive in working and tracking
suppliers and engaging with customers.
What?
5. Overview of SMEs Hong Kong.
Source: Support and Consultation Centre for Small and Medium Enterprises (SUCCESS)
Industry SME’s Employment
Manufacturing 8 287 47 604
Mining & Quarrying; Electricity & Gas Supply, and
Waste Management; and Construction
1661 15 737
Import/Export Trade and Wholesale 106 397 390 757
Retail 43 987 135 374
Transportation, Storage, Postal and Courier
Services
8 432 45 269
Accommodation and Food Services 14 005 118 947
Information and Communications 15 534 50 435
Financing and Insurance 30 322 67 262
Real Estate 16 683 36 048
Professional and Business Services 52 273 164 816
Social and Personal Services 44 518 173 479
Total 342 099 1 245 728
6. Who – Entrepreneur - SMEs.
SME’s are entrepreneurs who employ millions of people
across Asia.
Nevertheless, challenges exist:
Inadequate capital availability,
Low technology adoption,
Skills,
Infrastructure and many more.
7. Where – Digital - Online.
ERP and digital transformation for SME’s
Benefits (mobile and cloud-based solutions): accounting, inventory,
finance and resource management.
Social media and digital transformation for SME’s.
“These pillars should be present in each SME in every country: social media, digital marketing, cloud, and
mobility.” – Antonis Rouseliotakis, Social Handlers
Why SME’s on social media?
Social media is a powerful tool for growth.
Marketing strategy
Boost brand
Customer engagement
Online dialogue
Grow sales
8. How – Transformation - Change.
Digital transformation drives change from old to new. To drive the
change SME’s must rethink and change their perception of technology.
Every SME’s is already in the world of digital transformation, but your
attitude, decision-making skills and ability to change matters.
9. Why – Importance (Modern).
Industry 4.0 (Fourth Industrial Revolution 4IR) is here and
others.
Empowerment and competitive
Digital economy
Increased efficiency (operation)
Increase in profit.
11. How businesses (SME’s) can stay current?
Must have:
Website – customer can order, and buy product and
services.
Social media presence – Facebook, Twitter, YouTube and
others.
Third-party online sites – Alibaba, Amazon and others.
Others.