Digitalization: the key to the economic recovery of small enterprises

Small enterprises are possibly the ones to have had the greatest losses as a result of the COVID-19 crisis. Thus, the recovery of the economy will largely depend on these companies. To foster the process of recovery, it is essential that small enterprises and self-employed workers undergo the digitalization and adaptation process.

If the digitalization process in Spain continues steadily, the relevance of small companies in the GDP could increase by up to 1.8% in 2025, according to Telefónica's Digital Society Report. This demonstrates that the integration of technologies throughout the business sector is the key to economic recovery in the coming years.

Spain is the 11th country in the European Union in terms of the degree of digialization. However, the highest degree of digitalization is found among large enterprises, leaving small businesses far behind. In fact, the use of big data, cloud computing and blockchain has led to an 11% increase in profits for large companies. Meanwhile, these technologies are virtually non-existent in small businesses, with cloud computing being the most widely used, although it barely accounts for 9%.

At IoT Digital Innovation Hub, we strive to offer all companies the opportunity to integrate new technologies, improving their production processes and services.