The online channel becomes an SME priority
At least six in ten small and midsize businesses in the United States prioritized e-commerce and digital services, according to a 2022 survey. Another study that same year revealed that several online channels were among the areas where small U.S. business owners planned to invest the most in the future. That includes social and search engine marketing, online presence, and e-commerce websites. More than half of business-to-business SMEs in the U.S. had already implemented buying and selling via e-commerce as of late 2021, with retail trade and entertainment registering the highest adoption rates, at 56 percent.Around the world, Oceanian countries reach some of the highest SME e-commerce penetration rates. About 60 percent of Australia and New Zealand's small and medium-sized businesses receive online orders. European Union (EU) countries also rank high in SME digitalization. As of 2021, at least 75 percent of small EU enterprises had launched their own website. However, that does not mean that all small companies engage in e-commerce. At the EU level, only 15 percent of small enterprises (10 to 49 employees) and 16 percent of midsize firms (50 to 249 employees) made business-to-consumer (B2C) sales via websites. European countries such as Ireland, Malta, and Denmark enjoy B2C e-commerce adoption rates of over 20 percent among small businesses, the highest in the continent. However, this remains a significant gap to bridge when compared to the 75 percent of EU firms that have a website.