Role of ICT in Building Resilience of Medium-Sized Enterprises During Economic Crises.

ICT During Economic Crises.

Abstract

Economic crises pose significant challenges for medium-sized enterprises (MSEs), which often lack the financial resilience of large corporations or the flexibility of smaller businesses. This study examines the critical role of Information and Communication Technology (ICT) in enhancing the resilience of MSEs during periods of economic instability. Utilizing a mixed-methods approach, the research combines quantitative analysis of sector-specific ICT adoption rates with qualitative insights from case studies and expert interviews. This methodology enables a comprehensive understanding of how ICT adoption influences business continuity, innovation, and market adaptability. The findings highlight those technologies such as cloud computing, remote work solutions, and enterprise resource planning systems are instrumental in mitigating supply chain disruptions, maintaining workforce productivity, and identifying new market opportunities. Additionally, the study identifies key barriers to ICT adoption, including resource constraints and technological readiness, which affect its impact across diverse contexts. The data reveal a 30% higher recovery rate for ICT-enabled MSEs compared to non-ICT-enabled ones, emphasizing the transformative potential of digital tools in fostering resilience. The study offers actionable insights for policymakers, business leaders, and ICT developers to design tailored strategies that support MSEs in navigating crises. By situating ICT as a cornerstone of economic resilience, this research contributes to the broader discourse on digital transformation and sustainable business practices in the face of economic disruptions.