One in four SMEs lacks digital tools

Another barrier that SMEs face in the country is the “cultural shock”, since the youngest have new ideas and technologies to operate, but the founders question why they migrate to new technology? .

Also, the lack of knowledge of new technologies and the lack of expert personnel make it difficult for small businesses to digitalize.

How to overcome these obstacles?

In addition to the tasks that must be carried out to overcome the aforementioned obstacles, different actors must work as a team to achieve the digitalization of SMEs, said the MasterCard board.

For example, he noted “Strive México is an emblematic program of Mastercard’s Center for Inclusive Growth, executed by BFA Global and Fundación Capital. Launched in 2022, it seeks to digitize more than 400,000 micro and small businesses in the country by 2025”, approximately 10% of the SMEs in Mexico.

The first thing that has to be done, according to Jorge René García, has to be to bring the information closer to the country’s micro and small entrepreneurs so that they do not feel this process is unknown.

At MasterCard, Valassi pointed out, the digitalization strategy has to be focused on four areas: business management using digital technology, access to financial services, payment acceptance and online sales.

The time it takes for a company to digitize is around two yearsGarcía said. Although there are free tools, micro, small and medium-sized companies invest between 5% and 8% of their annual income to achieve this, he added.

This increase in sales is due to the fact that they leave the town and can offer their products in Mexico and abroad; In addition to increasing the competitiveness of companies, he added.

Regarding financing, Valassi explained, access to this tool must be democratized. Which can be done through lending platforms, crowdfunding; in addition to solutions such as artificial intelligence and open banking.

SMEs were the least digital companies when the coronavirus pandemic began, and 50% of them made the leap to digitalization as a result of the coronavirus; while 30% of SMEs aspired to go digital with a greater aspiration for digital payments, online sales and acquisition of digital tools, celebrated the VP Customer Solutions Center, of Mastercard Mexico.