Challenges, Requirements and Strategies in Digital Business for MSMEs: A Systematic Literature Review

Abstract

The current digital age is ushering in significant changes in how Micro, Small and Medium Enterprises (MSMEs) operate, particularly in competition and collaboration. This systematic literature review aims to examine the significance of Digital Business Entrepreneurs (DBEs) as drivers of collaborative value networks within Micro, Small and Medium Enterprises (MSMEs). This paper synthesizes a comprehensive understanding of the challenges, requirements, and strategies associated with DBEs in the context of MSMEs by analyzing 150 research journal articles. The research demonstrates that DBEs have emerged as a subject of considerable academic interest, eliciting various viewpoints regarding their consequences on MSMEs. The investigation encompasses various settings within MSMEs, introducing prospects and obstacles resulting from the incorporation of digital business entrepreneurs. The paper makes a valuable contribution to the literature by addressing this research gap regarding the transformative capacity of DBEs in the MSMEs sector. The literature review identifies eight strategies, nine challenges, and eight requirements for digital business entrepreneurs. These findings provide entrepreneurs and managers with actionable insights as they navigate the digital landscape. Furthermore, delineating five prospective research trends provides scholars with a strategic guide, ensuring sustained relevance in this ever-evolving domain. Practical challenges faced by administrators of MSMEs involved in digital business entrepreneurship are also emphasized, offering practical advice for making sound decisions. This extensive evaluation functions as a valuable asset for individuals involved in digital business entrepreneurship, scholars, and practitioners in the field. It promotes a nuanced understanding of digital business entrepreneurs' obstacles and prospects when operating within micro, small, and medium enterprises.