Advancing SME Competitiveness Through Digital Transformation in the Western Balkans

Vienna | Two-day workshop

Over the course of two days in Vienna, representatives of WB6 CIF and Western Balkans Chambers of Commerce, Professional Accountancy Organizations, technology experts, and SMEs from across the Western Balkans convened to discuss key priorities related to digital transformation, artificial intelligence, and the strengthening of SME competitiveness.

The workshop provided an important platform for dialogue on how innovation, digitalization, and modern financial management practices can support more resilient, competitive, and future-ready small and medium-sized enterprises across the region.

Strengthening SME Resilience and Growth

WB6 CIF Secretary General contributed to the discussions by emphasizing the role of innovation, digitalization, and improved financial management practices in enhancing the resilience and growth potential of SMEs in the Western Balkans.

As businesses across the region face increasing pressure to adapt to new technologies, changing market conditions, and evolving regulatory requirements, digital transformation remains a key factor for improving productivity, competitiveness, and access to new opportunities.

A Practical Approach to Digital Transformation

The workshop was particularly valuable due to its practical orientation. In addition to the exchange of knowledge and experience, participants focused on identifying concrete avenues for stronger cooperation between chambers of commerce, the accountancy profession, international financial institutions, and the private sector.

Discussions highlighted the importance of translating digital transformation priorities into practical support for SMEs, including improved advisory services, stronger business capacities, and better access to tools that can help companies modernize their operations and financial management.

Artificial Intelligence, Finance, and Business Competitiveness

Artificial intelligence and digital technologies were discussed as important drivers of business transformation. Participants exchanged views on how SMEs can better understand, adopt, and benefit from new technologies while addressing capacity gaps and ensuring that digital tools respond to real business needs.

The discussions also underlined the relevance of modern financial management and corporate governance for SME development. Stronger financial practices can help companies improve transparency, prepare for investment, access finance more effectively, and strengthen their long-term sustainability.

Cooperation With International Financial Institutions

The World Bank Group’s continued commitment to supporting SMEs through improved access to finance, investment promotion, enhanced corporate governance, and digital transformation represents a strong foundation for future progress in the Western Balkans.

Participants noted that cooperation between international financial institutions, chambers of commerce, professional organizations, and businesses can help create more targeted and impactful support mechanisms for SMEs across the region.

Promising Ideas for Future Regional Initiatives

Importantly, the discussions resulted in a number of promising ideas with the potential to be further developed into regional initiatives and partnerships in the period ahead. These ideas reflect the shared interest of regional stakeholders in supporting SMEs through practical, coordinated, and forward-looking actions.

Key areas for future cooperation include:

• strengthening SME capacities for digital transformation and innovation
• supporting the responsible and practical use of artificial intelligence in business
• improving financial management, corporate governance, and investment readiness
• enhancing cooperation between chambers of commerce, the accountancy profession, international financial institutions, and the private sector
• developing regional initiatives that support SME competitiveness and resilience

Building a More Competitive Regional Economy

The workshop in Vienna reaffirmed the importance of regional cooperation in helping SMEs navigate digital transformation and strengthen their competitiveness. By bringing together chambers of commerce, professional accountancy organizations, technology experts, international partners, and businesses, the discussions created a valuable basis for future collaboration.

WB6 CIF extends sincere appreciation to the World Bank and all participants for the excellent organization, constructive dialogue, and collaborative spirit throughout the workshop. The ideas generated during the two-day event provide a promising foundation for future regional initiatives that can support digital transformation, innovation, and SME growth across the Western Balkans.