Surreal illustration of SME growth with tech and market symbols

Level Up Your Business: How Tech and Market Savvy Can Boost SME Performance

Elliot Brynn in Business & Economy August 2025 • 4 min read.

"Unlock the secrets to small and medium-sized enterprise (SME) success by harnessing technology, understanding market trends, and leveraging support services."

Small and medium-sized enterprises (SMEs) are the backbone of economies worldwide, acting as key drivers of innovation, employment, and economic growth. In today's rapidly evolving business landscape, staying competitive is more challenging than ever. SMEs face constant pressure to adapt to technological advancements, shifting market dynamics, and increasing global competition.

In South Korea, SMEs make up 99.9% of all firms but contribute only 53.9% of total revenue, highlighting a significant opportunity for growth and improvement. Recognizing this potential, governments and support organizations are implementing various policies and programs to bolster SME performance. However, these efforts often face obstacles such as global financial crises and unpredictable external environments.

This article explores how technology and market dynamism impact SME business performance, focusing on the crucial role of SME supporting services. It provides actionable insights and strategies to help SMEs make informed decisions, leverage available resources, and achieve sustainable growth.

Decoding the Impact of Technology and Market Dynamism on SMEs

Surreal illustration of SME growth with tech and market symbols

Technology and market dynamism encompass the rapid changes and innovations within an industry, market, or technology. This includes the uncertainty driven by customer actions and competitive pressures. For SMEs, these factors can significantly influence their ability to conduct business, increase revenue, and expand employment opportunities. Understanding and adapting to these dynamics is essential for sustained success.

One of the biggest challenges SMEs face is information overload. The sheer volume of data and insights available can overwhelm decision-makers, making it difficult to identify and act on critical information. As Bertram Gross noted in The Managing of Organization, this information overload can hinder effective decision-making.

Stay Informed: Regularly monitor industry trends, technological advancements, and competitor activities.
Seek Expert Advice: Engage with industry experts, consultants, and mentors who can provide valuable insights and guidance.
Invest in Training: Provide employees with training to enhance their skills and knowledge in relevant areas.

SMEs can overcome these challenges by strategically leveraging information provided by SME support services. These services offer valuable resources, expertise, and networks to help SMEs navigate complex environments and make informed decisions.

The Path Forward: Embracing Change and Leveraging Support

In conclusion, technology and market dynamism are critical factors shaping the success of SMEs. By embracing change, leveraging SME support services, and making informed decisions, SMEs can unlock their full potential and thrive in today's competitive landscape. Supporting services are more effective in creating business performance when the technology and market dynamism is high.

About this Article -

This article was crafted using a human-AI hybrid and collaborative approach. AI assisted our team with initial drafting, research insights, identifying key questions, and image generation. Our human editors guided topic selection, defined the angle, structured the content, ensured factual accuracy and relevance, refined the tone, and conducted thorough editing to deliver helpful, high-quality information.See our About page for more information.

This article is based on research published under:

DOI-LINK: 10.1177/0971721818806113, Alternate LINK

Title: Effect Of Technology And Market Dynamism On The Business Performances Of Smes By Supporting Services

Subject: Multidisciplinary

Journal: Science, Technology and Society

Publisher: SAGE Publications

Authors: Hun Park, Jae-Young Yoo, Seong-Hee Moon, Hyoung-Sun Yoo, Ho-Shin Lee, Tae-Hoon Kwon, Hyuk Hahn

Published: 2018-12-20

Everything You Need To Know

Why are small and medium-sized enterprises (SMEs) so important to global economies?

Small and medium-sized enterprises, known as SMEs, are vital to economies worldwide because they foster innovation, create jobs, and contribute to economic growth. However, these SMEs often struggle to maintain competitiveness due to rapid technological advancements, changing market dynamics, and increasing global competition. Overcoming these challenges requires SMEs to adapt and utilize available resources effectively.

What does the term 'technology and market dynamism' really mean for SMEs?

Technology and market dynamism include the rapid changes and innovations within an industry, market, or specific technology. This dynamism also encompasses the uncertainty driven by customer behavior and competitive actions. For SMEs, understanding and adapting to these dynamics are essential as they directly influence their ability to operate effectively, increase revenue, and expand employment opportunities. Ignoring these factors can lead to missed opportunities and decreased competitiveness.

How does 'information overload' impact the decision-making process in SMEs, and what steps can be taken to mitigate this?

Information overload poses a significant challenge for SMEs, making it difficult for decision-makers to identify and act on critical information. Drawing from Bertram Gross's work in *The Managing of Organization*, this overload can hinder effective decision-making processes. To overcome this, SMEs should prioritize staying informed, seeking expert advice, and investing in employee training to enhance relevant skills and knowledge. Effectively managing information is crucial for making informed decisions and driving business growth.

What role do SME support services play in helping SMEs navigate the complexities of today's business environment?

SME support services play a crucial role in helping small and medium-sized enterprises navigate complex environments and make informed decisions. These services offer access to valuable resources, expertise, and networks that SMEs might not otherwise have. By leveraging these support services, SMEs can better understand market trends, adopt new technologies, and develop effective strategies for sustainable growth. These supporting services are even more impactful when technology and market dynamism are high.

What is the ultimate path forward for SMEs looking to enhance their business performance in a rapidly changing landscape?

To boost business performance, SMEs must embrace change and actively leverage SME support services. This involves making informed decisions based on available resources and expert advice. By staying adaptable and informed, SMEs can unlock their full potential and thrive in competitive markets. Ignoring technology and market dynamism can lead to stagnation, while proactively addressing these factors allows SMEs to achieve sustainable growth and maintain a competitive edge.