Determining factors for the digitization of micro, small, and medium-sized enterprises (MSMEs) in Ibero-America

Industry 4.0 and the rapid evolution of the technological landscape have significantly impacted company value creation of. This study analyzed the determining factors influencing the digitalization of micro-, small-, and medium-sized enterprises (MSMEs) in Ibero-America. Data were collected from 14,972 companies in Ibero-American region, and a structural equation model (SEM) was constructed using variance analysis techniques with partial least squares (PLS). The results showed the relevance of training in digitalization skills and digital leadership in achieving different levels of digitalization among the companies studied, with digital leadership further enhancing training efforts. While the adoption of analog technology governance centered on human factors does not impact digital skills training, it is crucial for attaining a basic level of digitalization. Barriers related to technology, finance, human resources, and business culture affect the achievement of a basic level of digitalization but are no longer relevant as companies advance to higher levels. These results provide guidance for the digitalization processes of MSMEs and inform public policies aimed at stimulating the digital transformation of companies.