Digital and the G7 - what does it mean for SMEs?

In the run up to the G7 Sage has been working closely with @CBI and the broader global business community to support digitization and data sharing in a way that will bring real benefits to SMEs.  

 Sage welcomes the G7 Digital and Technology Ministerial Declaration. We strongly support the positive steps being taken by G7 countries and the European Union to support digital collaboration and enable businesses of all sizes to harness the opportunities of digital trade.  

SMEs are accelerating investment in digital technology, prioritising resilience and productivity. An estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platform business models. 

Now is the time to ask ourselves how the G7 should address challenges with tangible benefits, and how can we ensure these tangible benefits are extended to SMEs? 

Earlier today, I spoke at the B7 about four ways I believe we can make that happen: 

1. Helping businesses that trade in small quantities to automate answers to complex questions – such as rules of origin checks – could make it simpler for businesses to access new and lucrative markets.  
2. Establishing an internationally recognised technical standard and framework for a portable digital ID to help simplify the regulatory barriers and help people set up their own business.  
3. Enabling SMEs with real time data sights by establishing a trusted framework for data sharing  
4. Empowering SMEs to use green tech solutions to measure and mitigate their emissions via a common agreed framework for SME carbon reporting. 

SMEs will lead our recovery and it is vital that we provide the right support and frameworks to boost confidence to invest.