Digitalisation can help small businesses become resilient. For businesses, being resilient means having the flexibility to adapt to disruptions and continue their operations, and digital technologies can serve as a tool for businesses in building their resilient capacity. In general, the limited capacity of SMEs, such as financial and human resources, leave them with little room for manoeuvre in challenging circumstances. However, advancement of digital technologies and development of digital service models offer small businesses enhanced accessibility to business tools, which can allow SMEs to quickly adapt their activities during crisis without the need for a large upfront investment.
The report investigates the role of government programmes in strengthening SMEs’ resilience to external shocks, by focusing on SME digitalisation policies implemented in Korea during the COVID-19 outbreak. The report examines how digital tools and services have made SMEs more resilient during the pandemic, as well as the challenges that SMEs face in “going digital”. The analysis is complemented by additional evidence and insights coming from international policy experience.
This event is co-hosted with Permanent Delegation of the Republic of Korea to the Organisation for Economic Co-operation and Development (OECD)