Photo by Conny Schneider on Unsplash

Only 1 in 3 SMEs is thoroughly digitalised: survey

Larger firms are beating SMEs in terms of digitalisation.

Small and medium enterprises (SMEs) are far behind digitalisation compared to larger firms, a survey by Prudential showed.

According to the survey, only 30% of SMEs are mostly or thoroughly digitalised whilst 86% of large firms are.

SMEs are likewise lagging in AI (60% vs 82%) and analytics (30% vs 70%)  investments compared with large firms.

The lack of budget has also led SMEs not to adopt or offer online payments, making them far behind in this aspect vis-a-vis large firms. 

Whilst fewer SMEs are investing in advanced technologies, many of them are planning to develop advanced capabilities such as data analytics, blockchain and product/service personalisation in the next two years.

The gap between SMEs and large firms, however, has narrowed over the past five or six years, said  Kurt Wee, president of the Association of Small and Medium Enterprises (ASME).

Wee said strong government support has ensured that SMEs have access to resources and advice that help them to upgrade their digital capabilities. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Event News

Event News