Identifying factors affecting digital transformation of SMEs

The paper is motivated by a need to encourage a more profound understanding of digital transformation issues in the context of small and medium enterprises (SMEs). This paper aims to identify the essential factors that determine the digital transformation of SMEs. We began by reflecting on the concept and usage of digital transformation in companies of different type and size. With this appreciation, we then elaborated upon the challenges of digital transformation for SMEs. In this context, we overviewed the scientific literature concerning the factors which influence the process of digital transformation and are significant for SMEs. Finally, in the light of our reflections, we suggested the set of factors which should be taken into account moving towards the digitalization of SMEs. By focusing on the key factors of the digital transformation of SMEs, we provided some contributions. First of all, we articulated a categorization regarding internal and external factors in relation to the digital transformation of SMEs. Future research should pay more attention to external factors, and verify empirically the significance of the factors identified.