Author(s): Andreas Karaoulanis
This study explored a phenomenon that might have vast impact in our societies on a global scale; whether small and medium enterprises (SMEs) will be able to survive the technological boom that industries 4.0 and 5.0 are bringing with them. The importance of this research is huge as possible negative implications for SMEs in the years to come will devastate our societies, especially since SMEs can be considered their backbone. Research method: This study used the structured library/ literary analysis under a qualitative prism. I gathered a few dozens of relevant papers which the author analyzed in order to be able to find some answers to his research question. The study used many papers and books from different university libraries and a few trustworthy internet-based sources. The research question: The research question is: “Can small and medium enterprises survive the advent of industry 4.0 and 5.0?” Findings: The research found that SMEs can survive industries 4.0 and 5.0 only if they will be able to take certain steps which include training of employees and owners and change in their mentality, solving their financial problems, leveraging local conditions, increase their innovation and start collaborations e.g. Keiretsus or business ecosystems etc.