Analytics, Estonia, Internet, Markets and Companies, Technology

The ratio of such SMEs in Estonia has been stable for the past several years. In Latvia, the ratio of SMEs with a capability for online sales is 20%, whereas in Lithuania the ratio has climbed by 10%age points in the past couple of years to 32%, SEB said on Monday.  

Of Estonian SMEs active in the field of information and communications 50% offer online sales, compared with 45% of those active in retail. In administration and support services such companies account for 12% and in agriculture for 10%.

"In order to maintain competitiveness, it is worthwhile for SMEs in every sector to think about how to modernize their business through digitalization," Ainar Leppanen, board member and head of retail banking at the Estonian operation of SEB, said in a press release.

In the survey conducted in July, 57% of businesses in Lithuania, 49% in Latvia and  46% in Estonia considered digitalization important. In a similar survey a year ago, the ratios were 55% for Estonia, 51% for Lithuania and 47% for Latvia.

The ratio of such responses has declined somewhat in Estonia and increased in Lithuania.

In Estonia, digitalization is seen as important by 81% of companies active in the information and communications sector, followed by financial services and insurance with 58% and professional, scientific and technical activities with 54%. 

In the real estate sector of Estonia, 32% of businesses consider digitalization as important, as well as 30% of businesses in agriculture, forestry and fishery.

The coronavirus crisis also clearly increased the share of online sales. Where before the crisis online sales accounted for 22% of the total sales of Estonian companies, that indicator had climbed to 32% in July.

The survey was conducted in July by interviewing 2,566 businesses, including 1,133 in Estonia, 1,001 in Lithuania and 432 in Latvia. In addition, one polling round was conducted in Estonia and Latvia at the turn of the year. 

Over 90% of the businesses taking part in the survey employed up to 50 people, most of them being companies with up to 10 employees.