Application of Digital Technologies by Small and Medium Enterprises in Bangladesh

Abstract

Bangladesh, a country known for its rich cultural heritage and a population marked by entrepreneurial spirit, has witnessed a notable surge in the growth of small and medium-sized businesses (SMEs). Even though digital technologies are becoming more and more important for improving business processes, there is a noticeable lack of qualitative research that focuses on the opportunities and subtle difficulties SMEs in Bangladesh face when implementing and adopting digital technologies. This study aims to provide a comprehensive examination of the current state of digital technology adoption among SMEs in Bangladesh, exploring the diverse applications, challenges faced, and opportunities created. The study applied a qualitative research method. Data has been collected from ten participants to attain the research objectives. The study finds that digital technologies were used during the pandemic, as SMEs all over the world turned to online marketing, digital banking, e-commerce, and remote work to get by. SMEs in Bangladesh demonstrated their adaptability and resilience by utilizing digital marketing, mobile payments, and online platforms. The rise in online shopping is increasing during the COVID-19 pandemic. Although there are certain obstacles to overcome, like restricted internet access and cybersecurity worries, most people agree that SMEs can benefit greatly from the application of digital transformation.