McKinsey urges SMEs to turn to tech

Digital and new technologies create an opportunity for small and medium-sized enterprises (SMEs) to enhance their reach and efficiency at lower costs, overcoming the scale disadvantage they have relative to larger players.
This is according to a new report from consultancy firm McKinsey & Company.

In the European Union, SMEs represent as much as 99% of businesses, but only 3 out of 10 companies have some international involvement. EU policy makers perceive SMEs internationalization as a desired path for global growth; thus, they have put forward certain tools which aim to boost the pace and scope of internationalization, i.e., by creating and facilitating access to support activities, sharing information, promoting cluster and networking initiatives, making support schemes consistent throughout the EU, etc.