The Usage of Technology-Enabled Marketing Tools by SMEs and Their Bankruptcy Concerns

high value-added products for economies. However, since these
businesses lack financial assets compared with larger enterprises,
they are more likely to be in bankruptcy. Since technology-enabled
marketing channels might increase sales, revenues, and performance
of these businesses, they might provide SMEs with opportunities to
cope with bankruptcy problems. In this regard, this paper aims to
investigate and explore whether the usage of technology-enabled
marketing tools by SMEs reduce their probabilities to face
bankruptcies or not. Moreover, as age and size are determinant
factors for firms' survival, this paper also considers these variables
in the analyses. The researchers employed a questionnaire to collect
data from 1156 Czech, Slovak, and Hungarian SMEs operating in
various industries such as iron and mining to hit these targets. To
make the analyses, the researchers perform Binary Logistic
Regression analyses in SPSS statistical program. These analyses
prove the nonexistence of the association between the usage of
technology-enabled marketing tools and firm bankruptcies. This
statement is valid for companies of any age and size. On the other
hand, the research finds some significant results regarding the firm's
specific characteristics and bankruptcies. These results differ in a
country-based context. These results might be related to the volume
of financing for SMEs, the industry that SMEs operate, and the age
and managerial experiences of owners/managers. The
implementations of policymakers, such as having better bankruptcy
laws and policymakers' collaborations with other players such as
universities, might decrease the volume of bankruptcies and
stimulate the use of technology-enabled marketing channels by
SMEs.