Competitiveness of SMEs in Terms of Industry 4.0

The study is devoted to the peculiarities of the competitiveness of small and medium-sized enterprises under Industry 4.0 conditions. The article generalizes the scientific approaches to the definition of factors of enterprises’ competitiveness. The paper summarizes the main trends and challenges for enhancing the competitiveness of an enterprise in terms of Industry 4.0. Authors clarify the key components and factors of competitiveness of small and medium-sized enterprises in Industry 4.0 environment, among which there are highlighted an ability to involve, use and develop informational resources, an ability to improve the available technology, to change or develop the main technology of production, to use new methods for automated quality control, implementing Internet of Things concept. The article summarizes that the key factor of the strong competitive position of small and medium-sized enterprises is their readiness to change or develop quickly the main production processes by using new methods of management and new information and production technologies.