Misconceptions of digital space hindering SMEs’ success online

By Deborah Asantewaah SARFO

A digital expert and Director of Sales and Strategy at Pulse Ghana, Eli Daniel-Wilson has indicated that misconceptions about digital space among SMEs constitute one of the factors impeding their ability to leverage the online ecosystem for business growth.

He explained that most SMEs perceive that a mere presence on the digital ecosystem is a guarantee to business growth while neglecting the fact that it requires a thoughtful plan and deliberate, consistent digital strategies.

“Usually, it is the misconception that it is a magic button – ‘when I get on digital and press this big red button, my business will explode’. That is not the reality. It takes a lot of strategy, consistency and intentionality to do it”, he explained.

He made this observation known while speaking on the 2024 Africa Business Innovation (ABI) Forum sidelines – an initiative of Keynote Africa with support from MTN Ghana.

Mr. Daniel-Wilson further asserted that as established companies invest resources and other essentials in their quest to leverage the digital space for their business, so is it is expected SMEs will do the same – though perhaps not at the same level of big businesses.

He has therefore encouraged SMEs to embrace and implement an intentional and strategic approach to achieve greater success in the digital marketplace.

Additionally, he underscored the need for small enterprises to apply already existing marketing principles and leverage the digital space to execute them.

“Do not reinvent the wheel when it comes to digital,” he cautioned entrepreneurs, adding that “all the marketing principles still make sense on digital platforms”; hence, SMEs should first understand how these platforms work, apply the marketing principles and afterward leverage the digital space to execute them.

Speaking on the event’s theme, ‘Guiding through uncertainties: fostering SME success in a dynamic economy’, Country Senior Partner-PwC in Ghana, Vish Ashiagbor, presented a strategy SMEs can implement in difficult times to remain afloat in business.

Head-Commercial Operations, Mobile Money Limited, Abdul Razak-Ali also emphasised the need for SMEs to anticipate AI innovative payments platforms, then embrace and utilise them for their advantage.

He also noted that momo fraud remains a top priority for the telecommunications company, adding that they are addressing it by leveraging AI tools, road shows and educating the public.

“We keep investing in a lot of AI tools, so we use AI tools and sophisticated software in order to catch these frauds and all their fraud mechanisms before they actually happen. The other thing is a lot of fraud that happens in the country is a result of social engineering. So, we also do a lot of road shows,” he said.

Angela Mensah-Poku, Chief Enterprise Business Officer-MTN Ghana, reiterated their motive for sponsoring the ABI forum – highlighting its benefits to SMEs, businesses, consumers, communities and the country at large.

Commenting on the impacts of such events to the company, she said: “Sponsoring and coming to forums like this enables us to network with SME and understand their needs, because they will ask us difficult questions that we can’t get away from”.

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