SMEs constitute a significant portion of GDP and employment in developing countries. Research on this topic could provide valuable insights into how to support SMEs to successfully enter the era of Industry 4.0. Developing countries face unique challenges in adopting Industry 4.0, including a lack of infrastructure, financial resources, and expertise. However, there are also significant opportunities for SMEs in these countries, such as access to new markets and increased efficiency.
The aim is to conduct a review of the advantages, challenges, opportunities, and drawbacks of the impact of Industry 4.0 on the challenges and opportunities for small and medium enterprises in developing countries.
The paper should provide guidelines and recommendations to the governments of developing countries on how to support SMEs to successfully enter the era of Industry 4.0. I will focus on the specificities of developing countries and their role in facilitating the transition to Industry 4.0.
Hypotheses are:
- 1. Insufficient financial resources represent a key challenge for SMEs to successfully enter Industry 4.0.
- 2- Lack of expertise poses a limiting factor for SMEs to swiftly transition into Industry 4.0.
- The research can unveil deficiencies in existing policies and identify new options for Industry 4.0 for SMEs. It can provide practical information to SMEs in developing countries on how to adapt to challenges and capitalize on the opportunities presented by Industry 4.0.