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Investment in digital skills

📣“SMEs already face excessive competition and higher costs to find and retain digital talent. Investing in their existing workforce to reskill and upskill in an affordable and effective manner is essential.” https://t.ly/ipyxc
Digital technologies are rapidly changing the way we learn, work and interact with each other. Knowing how to navigate the digital landscape is essential.
🔸Read why investment in digital skills will empower EU citizens and create a more competitive economy, in this article by Alison Mizzi, President of the Malta Business Bureau (MBB).http://fpei.mt/
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Meet the partner FPEI – Foundation for the Promotion of Entrepreneurial Initiatives (Malta)

FPEI – Foundation for the Promotion of Entrepreneurial Initiatives is a not-for-profit organisation that fosters and empowers entrepreneurship in Malta, by promoting and providing comprehensive support to a thriving ecosystem of startups, small and medium-sized enterprises (SMEs), and freelancers.

👉 At FPEI, we believe that entrepreneurship is the catalyst for innovation, economic growth, and societal development. We strive to create an environment that nurtures and encourages aspiring entrepreneurs, guiding them toward success.
FPEI was set up by the Malta Business Bureau (MBB) and the University of Malta (UM). The day-to-day operation is run by Giselle Borg Olivier, the Foundation’s Manager and Karolina Rostkowska, the Project Coordinator.

📌 For more information visit http://fpei.mt/
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Main Benefits of Digital Technologies for Micro-Entrepreneurs

✅ Reduced Costs – Digital tools offer cost-effective solutions for marketing, sales, operations, and content creation compared to traditional methods.
✅ Increased Reach – Digital platforms allow micro-entrepreneurs to reach a wider audience and compete on a global scale.
✅ Improved Efficiency – Streamlined operations, communication, and project management save time and resources.
✅ Enhanced Customer Engagement – Digital tools facilitate direct customer interaction, building stronger relationships and increasing customer satisfaction.
✅ Greater Flexibility – Digital solutions empower entrepreneurs to work remotely and manage their businesses with increased flexibility.
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Barriers and opportunities for MSME digital connectivity

In September 2023, the Broadband Commission Working Group on Connectivity for MSMEs, co-chaired by the GSMA and the International Trade Centre (ITC), with Mastercard as an expert contributor, released the Making Digital Connectivity Work for MSMEs report.

📌 The report outlines barriers and opportunities to MSME connectivity with a five-part framework:

Digital connectivity has significant benefits for MSMEs, fostering access to markets and resilience, and promoting new entrepreneurial ventures. 85% of enterprises using digital technologies said they increased sales as a result and 81% said the digital technologies helped them cut costs.

👉 These benefits also transcend to their economies. A recent ITU-sponsored study showed that for every 1% increase in mobile broadband penetration, GDP increased by 0.20% in developing countries.
Crucially, enterprises of all sizes also depend on a set of ‘digital enablers’ to turn their connectivity into further economic value.
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Digital Readiness in Emerging Technologies for MicroEntrepreneurs:

Our objectives:
🔹 Raise awareness and generate competitive advantage for microentrepreneurs
🔹 Bring permanent change in business culture and inspire ME decision-makers
🔹 Communicate with significant stakeholders and policymakers
🔹 Fine-tune ME digital management skills. MEs following the programme will improve the effectiveness of their digital investment leading to improved productivity and/or performance
🔹 Optimize personal skills (self-confidence, determination) in ME business plans
📍 Our results:
– Situation-based assessment report (tackling the skills gaps related to ME’s digital readiness and awareness of emerging technologies)
– Digital courses with modules and exercises for business sector topics, such as cybersecurity and data analysis.
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Exciting updates on DIGIT4LME’s objectives!

Our goals include:

📣 Raising awareness on digital knowledge and market demands, fostering innovation for micro entrepreneurs.
📣 Inspiring MEs to harness their digital knowledge for efficient growth
📣 Collaborating with policymakers to emphasize the role of digital knowledge in business
📣 Enhancing ME’s productivity and performance through digital skills
📣 Fine-tuning personal skills in ME business plans.
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Kick off Meeting

The Kick off meeting took place on December 29, 2023 and was hosted by IDEC S.A. in Piraeus, Greece.

All partners gathered to give an #overview of the project’s main points, as well as each activity and deadline for its implementation.

Next steps were discussed for future #plans💡, leaving the participants later to browse the city and the beautiful weather before Christmas break!
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