Concept Note

The world is currently undergoing a wave of Digital Transformation, and Micro, Small, and Medium Enterprises (MSMEs) need to adapt to this advancement in the field of technology and embark on their digital journey as it is often said that nothing is more expensive than a lost opportunity. Technological usage has risen to 60%-70% just after the outbreak. The pandemic has sparked the need for the digitalization of small and medium businesses. Therefore, it has become even more important for MSMEs to focus on their specific and unique digital needs and adapt to the digital changes in the industry.

Institute of Directors (IOD), Hyderabad is focusing to address the needs of MSMEs on Digital Transformation in observance of World MSME Day. MSMEs needs differ from those of larger enterprises. Digital skills and financial support through enhanced partnerships take centre stage in the digital transformation of MSMEs. Digital transformation does not have to occur all at once; it can be achieved through incremental changes and gradual adoption of digital solutions.