Enikő Korcsmáros

Department of Economics and Management, J. Selye University,

Slovakia

korcsmarose@ujs.sk 

ORCID 0000-0002-2026-8712

Technological development as a key in various sectors of SMEs

Erika Seres Huszárik

Department of Economics and Management, J. Selye University,

Slovakia

huszarike@ujs.sk

ORCID 0000-0002-6842-1579

Silvia Tóbiás Kosár

Department of Economics and Management, J. Selye University,

Slovakia

kosars@ujs.sk

ORCID 0009-0005-8772-6836

Zsuzsanna Gódány

Department of Economics and Management, J. Selye University,

Slovakia

godanyz@ujs.sk 

ORCID 0000-0002-2391-1638

Bence Csinger

IREKS-STAMAG Kft,

Hungary

csinger.bence@gmail.com

ORCID 0000-0002-1348-4660

Abstract. Background: Small and medium-sized enterprises (SMEs) are an indispensable part of the global business sector and play a vital role in economic development. However, technological advancements often pose significant challenges for SMEs, as they frequently struggle to keep pace with technological changes due to limited resources and expertise. The intensity of technological development in SMEs is influenced by numerous factors, irrespective of changing market and environmental conditions. Methods: The purpose of this study is to highlight the importance of technological developments across various sectors of SMEs, with particular attention to the effects of multiple parameters - such as company size, sales revenue, operational area, and location - on technological advancement. The study examines the corporate characteristics present in the activities of SMEs that determine technological development, as well as their relationship with operational and development practices. Results: The findings from international studies and our own research analysis support the conclusion that, within the investigated sample, company size significantly influences the technological developments implemented. Furthermore, our results demonstrate that, due to the simplicity, flexibility, and lower cost of various technological devices, solutions that were once exclusive to large companies are now accessible to SMEs. Conclusions: With regard to the development of introduced technologies, the study finds that as company size increases, it is more common for firms to implement entirely new technological solutions rather than merely innovating or expanding existing technologies to a lesser extent.

Received: May, 2024

1st Revision: February, 2025

Accepted: June, 2025

DOI: 10.14254/2071-8330.2025/18-2/7

JEL Classification: O32, M19, M29

Keywords: technological development, digital technologies, SMEs